2016年CRI Czech Republic A Safe Haven for Chinese Investment: President

 

Czech President Milos Zeman says bilateral¹ relations are entering their best period ever, with many development opportunities.

"There is a very friendly environment. So Czech Republic might be such a safe haven² for China, for China's investment not only in Czech Republic, but also in the EU and other countries in Europe. And let us start with the hub. If there is hub in the Prague airport, it means the inflow of China's tourists, merchants, students, politicians, entrepreneurs and so on. That might be the same help for the Chinese banks, China's investment companies and so on." 

China has been the Czech Republic's largest trading partner outside the European Union and the Czech Republic is China's second-largest trading partner in Central and Eastern Europe.

Bilateral trade was 11 billion U.S. dollars last year.

The Czech Republic's export to China has tripled over the past 10 years.

China's investment in Czech Republic has reached 300 million U.S. dollars.

The president welcomes Chinese companies to invest in infrastructure³ construction in central Europe.

"In Europe, there is a very good communication from the west to the east, but there is no good communication from the north to the south. We need the water corridors, the railways, the highways from the south to the north. And I know that China's companies are very experienced in this area, and such a long-term investment might present one of the opportunities in the frame of the '16 plus 1'."

The Bank of China, one of the five largest state-owned commercial banks in China, opened a branch in the Czech Republic last year.

President Zeman says the bank has helped to boost business ties between the two countries.

"This is a very good chance to have the first fully⁴ Chinese bank in Czech territory and in territory of the EU, and this might be the banking⁵ center of China for all Europe. We have engaged in this project because they offer some participation⁶ for Czech building firms. Of course this is an excellent idea, which represents the historical experience, so I think this 'Silk Road' might again connect Europe and China."

Experts say the internationalization of the Renminbi has been facilitating the economic cooperation, trade and account settlement between China and the Czech Republic.

Charles Kucera is CEO of Czechinvest.

"Looking into the details (the internationalization) should be done because of the benefits, so I consider that's very important [to internationalize RMB]. So it's very important for the Bank of China opened a branch here," 

Bank of China Hungary branch chief Chen Huaiyu says it also helps to hedge the exchange-rate risk and to enlarge the sources of investment.

"The internationalization of the Renminbi is an organic component⁷ of the Belt and Road Initiative. It facilitates to a certain extent the connectedness of capital, trade and popular mentality⁸, these being among the five principles of the Initiative. Capital-wise, the internationalization of the Renminbi broadens the sources of capital and revenue for investors⁹ on both sides; trade-wise, it reduces exchange rate-incurred losses and increases the capability¹⁰ of account settlement for trade-centered enterprises on both sides."

The branch chief notes travelers can benefits from these moves.

"For example, when one travels abroad, he or she experiences considerable losses during currency exchanges. It's not convenient to exchange money and use exchanged currencies. It will be a great convenience that people can use Renminbi in foreign countries. Through internationalization of the Renminbi, it will be readily accepted as an international currency by various peoples."

The Czech Republic is an attractive destination for Chinese tourists, who made a record number of visits to the country in 2015 - more than 300-thousand.

Hainan Airlines opened direct flights between Beijing and Prague last September, the first non-stop service between the two countries.

1 bilateral   

adj.双方的，两边的，两侧的

参考例句：

• They have been negotiating a bilateral trade deal.他们一直在商谈一项双边贸易协定。
• There was a wide gap between the views of the two statesmen on the bilateral cooperation.对双方合作的问题，两位政治家各自所持的看法差距甚大。

2 haven   

n.安全的地方，避难所，庇护所

参考例句：

• It's a real haven at the end of a busy working day.忙碌了一整天后，这真是一个安乐窝。
• The school library is a little haven of peace and quiet.学校的图书馆是一个和平且安静的小避风港。

3 infrastructure   

n.下部构造，下部组织，基础结构，基础设施

参考例句：

• We should step up the development of infrastructure for research.加强科学基础设施建设。
• We should strengthen cultural infrastructure and boost various types of popular culture.加强文化基础设施建设，发展各类群众文化。

4 fully   

adv.完全地，全部地，彻底地；充分地

参考例句：

• The doctor asked me to breathe in,then to breathe out fully.医生让我先吸气，然后全部呼出。
• They soon became fully integrated into the local community.他们很快就完全融入了当地人的圈子。

5 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

6 participation   

n.参与，参加，分享

参考例句：

• Some of the magic tricks called for audience participation.有些魔术要求有观众的参与。
• The scheme aims to encourage increased participation in sporting activities.这个方案旨在鼓励大众更多地参与体育活动。

7 component   

n.组成部分，成分，元件；adj.组成的，合成的

参考例句：

• Each component is carefully checked before assembly.每个零件在装配前都经过仔细检查。
• Blade and handle are the component parts of a knife.刀身和刀柄是一把刀的组成部分。

8 mentality   

n.心理，思想，脑力

参考例句：

• He has many years'experience of the criminal mentality.他研究犯罪心理有多年经验。
• Running a business requires a very different mentality from being a salaried employee.经营企业所要求具备的心态和上班族的心态截然不同。

9 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

10 capability   

n.能力；才能；(pl)可发展的能力或特性等

参考例句：

• She has the capability to become a very fine actress.她有潜力成为杰出演员。
• Organizing a whole department is beyond his capability.组织整个部门是他能力以外的事。