Chinese Ambassador to Portugal Cai Run has said the accumulated value of investment by Chinese companies in Portugal now exceeds €9 billion (US$11.18 billion) as Sino-Portuguese economic exchanges burgeon, the Macao Daily News reports.

The newspaper quotes Mr Cai as saying so in a meeting in Lisbon with Macao Chamber of Commerce President Ma Iao Lai, who was leading a party of Macao businesspeople.

Mr Cai said there was plenty of scope for further co-operation by China and Portugal in fields such as infrastructure, the maritime economy and finance.

Mr Ma’s party paid a call on the Lisbon branch of Bank of China and met staff of the bank.

Bank of China hopes to serve Macao enterprises intending to penetrate the Portuguese market, the Macao Daily News says.