Valencia strengthens economic and innovation ties with China

The Valencian Community is significantly strengthening its economic and technological ties with China through various strategic initiatives. València Innovation Capital (VIC) has signed a Memorandum of Understanding with the city of Hangzhou to connect innovation ecosystems, facilitating opportunities for startups and scaleups in sectors such as artificial intelligence, clean technologies, health services, and transport.

This growing relationship is further evidenced by increased Chinese investment in the region's industrial sectors, particularly automotive manufacturing. Chinese interest in the Valencian automotive industry is driven by Spain's competitive advantages, including renewable energy costs and established production chains. Notable developments include the presence of Chinese capital in major automotive plants and the establishment of a Universitat Politècnica de València campus in Hangzhou.

To support the local entrepreneurial landscape, the Valencian Institute of Competitiveness and Innovation (Ivace+i) is investing 1.5 million euros to reinforce the network of European Business and Innovation Centres (CEEI). This funding aims to boost the regional startup ecosystem and identify emerging activities to maintain the region's status as a leading European innovation hub.