Chinese billionaires looking to invest in Turkey

  Date posted: 11th of May 2012

Members of the Kingdom Club of China are currently in Turkey looking to invest in several different areas in Turkey.

Kingdom Club, a business club formed by the most prestigious and wealthy businesses in China who rank in the Top 500 Chinese enterprises landed in Istanbul on Wednesday with a view to looking for investment opportunities in Turkey.

A shareholder in China Minsheng Bank and Huaxia Bank, and the man ranked 616th in the world by Forbes in the list of the world’s billionaires, Shi Yuzhu, said: “The intention of the members of the club in visiting Istanbul is to observe business opportunities in Turkey.” Shi himself said that he is currently considering investing money in to the online gaming sector in Turkey.

Fu Jun, the vice president of All China Industry of Commerce said: “We are newly meeting with business opportunities in Turkey. I am considering hotel and tourism investments on the south and western coasts of Turkey.” Fu stated that he expects Turkey to attract more investments from China in the future due to the current economic strength of Turkey.

Turkey and China are the two nations who are growing at the fastest rate compared with other countries. The economies of Turkey and China are currently growing and developing faster than another other country in the world while the rest of the world faces troubles due to the current economic crisis.

The two nations have been planning mutual business together with future plans to launch banks in both countries and to increase bilateral trade. Should the Bank of China open up a branch in Turkey, Husnu Ozyegin, the chairperson for the Turkish-Chinese Business Council at the Foreign Economic Relations Board of Turkey, said: “It would be so important to have the sixth biggest bank in the world in Istanbul.”

In 2002 the trade volume between Turkey and China was measured at $2 billion while last year the trade volume had been measured at $17 billion for 2010.