Wu said that China has been constructing city housing, and that individual housing purchases are encouraged by the government, thus, there is great potential in interior decorating and the furniture market.

Spain held the housing equipment exhibition in Shanghai to promote its furniture in the Chinese market, he added.

Wu noted that Sino-Spanish relations have developed smoothly, and cooperation between the two countries in all fields has expanded, adding that Sino-Spanish trade and economic cooperation is fruitful.

China is satisfied with the momentum of the development of Sino-Spanish relations, and believes that it will be further promoted through the Crown Prince's visit.

Wu also briefed the guests on China's reform and current economic situation.

Felipe said that his visit demonstrates friendly cooperation between Spain and China. The Spanish government has valued its economic and trade relations with China, and the housing equipment exhibition held in Shanghai contributes to this.

He noted that the Spanish government has encouraged entrepreneurs to invest in China, and he voiced his belief that in the near future Spain will focus on China for investment.

(People's Daily 11/06/2000)