The Chairman of the Portuguese Banking Association, Fernando Faria de Oliveira, said it is “extremely important” for Portugal to strengthen economic relations with China.

Speaking to Portuguese news agency Lusa, Mr Faria de Oliveira said that Chinese investments have had “a very positive impact” on Portugal, which has recently seen its economy recovering from a significant downturn.

“China is a great economic power and is seen as a strategic partner for Portugal,” he added.

The official also highlighted the fact Portugal has now made available in Chinese, information about the Portuguese economy. The ‘Portugal Economy Probe’ website, which provides such information, launched its Chinese language version this week in order to promote business between Portugal and China.

Mr Faria de Oliveira also said he is comfortable with Chinese companies bidding for Portuguese lender Novo Banco. Novo Banco emerged from the break-up of beleaguered bank Banco Espírito Santo, Portugal’s second-largest lender, after a state rescue last year.

Portugal’s central bank said this month it had chosen five bidders for the final stage of the process – final bids for Novo Banco must be submitted by June. The Bank of Portugal did not name the five bidders but local media reported that Chinese group Fosun International and Chinese insurer Anbang were among the five bidders.

Fosun made two acquisitions in the European nation last year, including buying Portuguese healthcare provider Espírito Santo Saúde, now know as Luz Saúde.