Spanish Prime Minister Pedro Sanchez's visit to China is set to add an even greater boost to an already expanding bilateral trade relationship, reinforcing the strong potential for future growth, experts in Madrid say.

"The relationship is growing and growing," said Miguel Bufala Perez, head of the International Department of the Madrid Chamber of Commerce.

"China is one of Spain's largest trading partners overall, with trade volume exceeding 50 billion euros ($59 billion) in 2025, marking a double-digit growth compared to the previous year," Bufala said.

Spain's exports to China reached roughly $9.32 billion last year, maintaining steady annual growth, while imports from China surged even faster, underlining both the vitality of the relationship and a persistent trade imbalance, he said.

While products such as pork, olive oil and wine continue to enjoy strong demand among Chinese consumers, Bufala said pharmaceuticals are emerging as another key sector alongside Spain's traditional strengths.

"With China's average life expectancy approaching 80 years, demand for healthcare products is increasing, and Spain — especially Madrid — has a strong pharmaceutical industry," he said.

China's strengths in active pharmaceutical ingredients, large-scale manufacturing and rapidly growing biopharmaceutical innovation complement Spain's advantages in clinical trials, access to the European Union market, and high regulatory standards, Bufala said. This makes the two nations more aligned along a shared pharmaceutical value chain than in direct competition, he added.

"Given rising global political tensions, it is now more important than ever to expand economic and commercial relations. Spain should continue opening up to markets where its companies can operate and grow," Bufala said, noting that high-level visits play a key role in facilitating new business opportunities between Chinese and Spanish companies.

Strategic dimension

Xu Jingfu, the first Asian president of the Eurasia branch of the Madrid Bar Association, identified renewable energy as another strategic dimension of cooperation.

Spain is among Europe's leading players in solar and wind power, Xu said. "This creates natural synergies as Chinese companies that are highly competitive in new energy technologies can find technological partners in this nation."

Spain's broader appeal also lies in its unique market characteristics, he said.

"As one of Europe's larger consumer markets with strong links to Latin America, it offers Chinese companies a gateway not only to Europe but also to Spanish-speaking regions in Latin America," he said."Cross-border e-commerce firms, in particular, have increasingly chosen Spain as a base for expansion."

Sanchez's visit to China, which concluded on Wednesday, is therefore seen as an opportunity to address structural challenges while unlocking new opportunities, Xu added.

Bufala said that Spain hopes to rebalance trade by boosting exports of higher value-added goods and strengthening brand recognition in China, while both sides are expected to encourage two-way investment — an element that both experts view as key to sustaining long-term economic dynamism.

Both analysts emphasized the importance of maintaining openness amid geopolitical tensions.

"This is the moment to expand commercial relationships," Bufala said, stressing that mutual understanding of business culture will be essential.

Xu echoed the view, saying China and Spain share a common interest in stability and development, which provides a solid foundation for continued cooperation.

Miguel Otero-Iglesias, a professor of international political economy at Spain's IE University and a senior analyst at Elcano Royal Institute, also pointed to the current global geopolitical tensions and said Spain can play a positive role.

"Spain is less dependent on the US military protection than other countries," Iglesias said.

"Traditionally, Spain has a very strong relationship with the Global South. We have cultural empathy with the Global South. One could even argue that Spain is one of the most southern countries of the Global North," he said.

Spain has a long history of interaction with China, dating back to the 16th and 17th centuries, he said.

"So there's a very different understanding of China than in many other places," he said, adding this difference makes it more friendly.