China, Central and Eastern Europe see closer economic ties

The container terminal in Haikou, Hainan province. [PHOTO by SU BIKUN/FOR CHINA DAILY]

BEIJING -- Trade and economic ties between China and Central and Eastern Europe have boomed over the past decade, a senior commerce official said on Friday.

So far, two-way investment between China and Central and Eastern European Countries (CEECs) has reached nearly $20 billion, Vice-Minister of Commerce Li Fei told a press conference.

China's direct investment in CEECs rose by 148 percent year-on-year in the first quarter of the year, Li said.

Chinese companies are keen to invest in these regions in areas such as auto parts, home appliances, medicine, logistics, energy and minerals, Li added.

The third China-CEEC Expo & International Consumer Goods Fair will be held in Ningbo, East China's Zhejiang province, from May 16 to 20.