"We encourage more Chinese companies to settle in Portugal, to benefit from the local innovation ecosystem and the opportunities offered by the European market," the minister said.

LISBON, Oct. 4 (Xinhua) -- "China is today at a remarkable level of technological development and is a major driver of global technological innovation," Portuguese Minister of Economy and Territorial Cohesion Manuel Castro Almeida said in an exclusive interview with Xinhua on Friday, noting that China's recent achievements in innovation are impressive.

Speaking about the progress made under China's 14th Five-Year Plan, Almeida said he was deeply impressed. "I visited China twenty years ago, ten years ago, and just fifteen days ago, and the difference in its level of development is enormous," he said.

Almeida recalled that he accompanied Portuguese Prime Minister Luis Montenegro on an official visit to China last month. "It was clear that President Xi holds a very positive appreciation of Portugal and knows the country well," he said, adding that the Chinese president spoke with real knowledge and even showed a kind of personal sentiment toward Portugal, "which touched us deeply and highlighted the closeness of our relations."

While attending the 115th anniversary celebration of Alcobre in Ovar, Portugal's oldest electrical cable manufacturer and now a subsidiary of China's Hengtong Group, Almeida repeatedly emphasized the word "innovation," which he believes aligns closely with the development priorities stressed in China's upcoming 15th Five-Year Plan.

He pointed out that Ovar benefits from the presence of several leading universities, including the University of Aveiro, the University of Porto and the University of Coimbra, which rank among the best in Europe and have great potential in technological innovation.

"Here in Ovar we have many universities, many scientists and researchers working nearby," Almeida said. By combining this academic and research strength with China's know-how and capacity for technological innovation, he added, the two sides can achieve strong complementarity and synergy, opening up broad prospects for cooperation.

On Chinese investment, Almeida stressed that Portugal attaches great importance to it, with AICEP -- the Portuguese Agency for Investment and Foreign Trade -- maintaining regular and positive contacts with potential Chinese investors.

"Portugal greatly values foreign direct investment, and any productive investment that helps grow our economy, improve employment and raise wage levels is most appreciated," he said, citing Hengtong's acquisition of Alcobre as an example.

"We encourage more Chinese companies to settle in Portugal, to benefit from the local innovation ecosystem and the opportunities offered by the European market," he said.

Almeida concluded that Portugal is willing to remain a stable and reliable partner of China in Europe, and to expand cooperation with China in scientific research, talent training and industrial investment.