There are widespread media reports on plans of the Chinese firm CITIC to build a machine plant, based on information from the chancellor of the office of the Czech president Vratislav Mynař. The announcement was made at the same time as news that a business forum between Czech and Chinese delegates is to take place in October under the auspices of Czech president Miloš Zeman, a long-time proponent of improving ties between the two countries. It was Zeman who took credit for the entry of the Chinese conglomerate CEFC Europe into the Czech market and who tried to broker a resolution to the complications arising from its collapse. CITIC eventually stepped in to take over the company, including numerous real estate assets such as the Millennium building in central Prague.
