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The Chinese investments in the country are going to increase in the coming years because China's policy is to invest in industries in Central and Eastern Europe and also to stimulate product exports from this region to China said at a press conference in BTA Victor Azmanov, chairman of the Bulgarian-Chinese Chamber of Commerce and Industry. Victor Azmanov and Stefan Kinov, General Secretary of the Chamber, presented some details regarding the economic meeting in Warsaw last between government delegations of 16 countries from Central and Eastern Europe (CEE) countries, including Bulgaria, and the Chinese Premier Wen Jiabao, that we held last week. China granted a credit line of $ 10 billion to strengthen the practical cooperation between China and CEE to achieve increased trade, informed Azmanov. At the moment the stock exchange is around 52.9 billion US dollars with a 1:10 ration in favour of the Chinese exports to the CEE. The main idea is the trade turnover to reach 100 billion dollars and become balanced - to increase imports of products from CEE to China, added Mr. Azmanov.

The investments on this credit line will be managed by the Agency for Investment Promotion at China's Ministry of Commerce. The Agency already has two active operational programs - a program to open the Chinese market to imports from CEE and a program to encourage Chinese investments abroad.

On the other hand, Chinese Development Bank is planning to invest 500 billion US dollars over five years (2011-2016). This amount is to be divided into three zones - Central and Eastern Europe, South America and Africa in three key areas - energy, infrastructure and agriculture, announced Mr. Azmanov. In carrying out its investment policy, China will focus on cultural exchange, modern forms of education and alternative medicine, which will be heavily subsidised and developed in CEE, said the Chairman of BCCCI.

The Bulgarian-Chinese Chamber of Commerce and Industry, which had received an excellent evaluation of the work by Chinese government delegation at the forum in Warsaw, has signed an agreement with The Chinese Investment Agency as a key partner for Bulgaria. The Chambers Chairman - Victor Azmanov and the General Director of the Agency - Dianxun Liu discussed the future joint initiatives.

The largest up to date Chinese investment in Bulgaria in the field of energy, evaluated in the amount of $ 1.5 billion started last year, with the active assistance of the Bulgarian-Chinese Chamber of Commerce and Industry. The investment will cover not only the construction of power plants, but also the assembly plants of the equipment required for these facilities. Last year this project had received an amount of $ 50 million from the Chinese government holding company "XEMC Group," said Azmanov. He informed that the Chinese company is currently looking for a suitable place to build a factory that will provide 300 to 500 new jobs.

The Chinese business is interested in buying European factories and moving the production out of China to Eastern Europe, where the labour is cheaper and the product retains its status as produced in Europe, said the Chairman of Bulgarian-Chinese Chamber of Commerce and Industry. It is up to us to attract as much investment from China for the economic benefits of our country - low cost labour and energy resources and lower taxes with all the prerequisites to maintain the same levels, said BCCCI Chairman – Mr. Azmanov.