CHINA TRADE IMBALANCE WITH EU “UNSUSTAINABLE”
On Monday, Sanchez also called China’s trade imbalance with the European Union “unsustainable” and called on Beijing to open its market to European imports.
“We need China … to open up so that Europe does not have to close itself off,” said Sanchez.
He called on Beijing to “help us correct the current trade deficit … A deficit that is unbalanced, which grew by a further 18 per cent last year alone. And which is unsustainable for our societies in the medium and long term”.
China accounted for 74 per cent of Spain’s total trade deficit, Sanchez said, adding that cooperation was important to build a “balanced, globalised economy that generates shared prosperity”.
Madrid hopes Sanchez’s visit will narrow Spain’s trade deficit, which more than doubled in four years to nearly US$50 billion in 2025. It is looking to boost agricultural and manufacturing exports to offset high volumes of China’s imports.
China’s official news agency Xinhua on Monday said Sanchez’s visit was set to further consolidate bilateral ties and pointed to a broader pathway for steady engagement between China and Europe at a time of growing global uncertainty.
The Spanish leader is also keen to boost trade with China after Trump, who is due to visit Beijing in May, threatened last month to cut trade with Spain.
Trump’s threats came after Spain denied the use of its military bases for US strikes against Iran, a key economic partner of Beijing.
Spanish government sources said a primary goal of the trip is to secure greater market access for agricultural and industrial goods, and to explore joint ventures in the technology sector.
Sanchez is also expected to use the visit to attract new investors for the eurozone’s fourth-largest economy and to gain access to China’s critical raw materials.
On Monday, he is scheduled to visit the headquarters of Chinese tech giant Xiaomi and tour a technology exhibit at the Chinese Academy of Sciences.
During his visit to China in April 2025, Beijing agreed to expand access for a range of Spanish products, including pork and cherries.
The Spanish government has said that Spain’s exports to China rose 6.8 per cent in 2025, crediting the growth to strong ties with Beijing.
Chinese foreign ministry spokeswoman Mao Ning on Wednesday called Spain “an important partner of China within the EU”, adding that Sanchez’s visit offers a chance to “promote bilateral relations to an even higher level”.
King Felipe VI and Queen Letizia paid a state visit to China last November, the first by a Spanish monarch in 18 years, highlighting the closeness of ties.