China–Iceland relations
[8] In 2010, Enex, an Icelandic firm, signed an agreement on digging for geothermal energy in Inner Mongolia and Shaanxi, China.[1][12] The majority of trade between the two nations consisted of seafood products, as it accounted for 94.3% of Icelandic exports to China between 2009 and 2011.[16][17] Þórhallsdóttir and Ólafsson have theorised this rapid growth in tourism was due to recent events where Iceland received significant media attention.[16][18] The first of which occurred in 2008, as Iceland economic collapse devaluated its currency making it a less expensive place to travel.[18] In addition, in the wake of the eruption, the government launch a tourism campaign called Inspired by Iceland.[24][25] It is a joint project between Aurora Observatory (AO), an Icelandic non-profit foundation, and the Polar Research Institute of China (PRIC).[28] Huang was the chairman of the board that consisted of the Icelandic ambassador to China, Kristín A. Árnadóttir, and the director of Beijing University's Poetry Center, Professor Xie Mian.[12][35] On 20 April 2012, during his visit, prime minister, Jóhanna Sigurðardóttir, and Premier Jiabao presided over the signing of a Memorandum of Understanding between the two countries.[25] The Icelandic prime minister, Katrín Jakobsdóttir, corrected the statement made by Vice President Pence.[38] It was stated that the Icelandic government was still considering whether to join the Belt and Road Initiative, but had not yet “opened up for it.”[25][38] On the same day that the FTA with was signed with China, President Grímsson founded the Arctic Circle.[41] Significant discussion was directed towards Arctic involvement in the Belt and Road Initiative, as well as renewable energy projects.[45][32][15][47] They had planned to invest $USD 200 million into the area in order to build a luxury hotel, spa and golf resort.[32][49] The offer was rejected by the government because, under Icelandic law, entities from outside the European Economic Area are prohibited from purchasing land.[15][48] The Icelandic interior minister, Ögmundur Jónasson and the figure responsible for making the decision, was suspicious of the offer.[45][47][46] He stated that “China has been very active in buying up land around the world so we need to be aware of the international ramifications.”[32][45][46][49] In 2006, Iceland's largest geothermal company, Orka Energy, and Sinopec (China Petroleum & Chemical Corporation) partnered in a joint venture called Shaanxi Green Energy Geothermal Development (SGE).[25][52] In February 2019, the Beijing Research Institute of Uranium Geology (BRIUG) and Arctic Green Energy signed a MoU that formalised their cooperation in geothermal exploration and application.[53][54] The MoU had a specific focus on high-temperature geothermal fields in China with the aim of developing projects that allow for electric power generation.[1][56] In October 2013, China National Offshore Oil Corporation (CNOOC), Eykon Energy and Petoro Iceland agreed upon a joint venture.[57][58][59] In January 2018, CNOOC announced that it would not renew its exploration licence due to insufficient evidence of potential fossil fuels and the hazardous environmental conditions of the area.
IcelandBeijingFree Trade Agreementgeothermal powerCopenhagenDenmarkInner MongoliaShaanxiHuang NuboGrímsstaðirMinister for Foreign Affairs and External Trade of IcelandÖssur SkarphéðinssonGao HuchengMinister of Commerce of the People’s Republic of ChinaEuropean Economic AreaEyjafjallajökullLilja AlfreðsdóttirChen BaoshengUniversity of IcelandBeijing International Studies UniversityPolar Research Institute of ChinaKristín A. ÁrnadóttirembassyfireworksReykjavikgamlárskvöldÓlafur Ragnar GrímssonCentral Bank of IcelandPeople's Bank of ChinaPremier Wen JiabaoJóhanna SigurðardóttirMemorandum of UnderstandingGovernment of IcelandChina PetrochemicalSinopecChina Development BankBelt and Road InitiativeMike PenceKatrín JakobsdóttirMinistry of Natural Resources of the People's Republic of ChinaMinistry of Foreign Affairs of the People's Republic of ChinaArctic CouncilGrímsstaðir á FjöllumVatnajokullJokulsargljufurÖgmundur JónassonXianyangShandongGeysir Green EnergyAsian Development BankUnited Nations UniversityChina National Offshore Oil CorporationNorth Atlanticfossil fuelsForeign relations of ChinaAlgeriaAngolaBotswanaBurkina FasoBurundiCameroonCape VerdeCentral African RepublicComorosCongo, Democratic Republic of theCongo, Republic of theDjiboutiEquatorial GuineaEritreaEthiopiaGambiaGuineaGuinea-BissauIvory CoastLesothoLiberiaMadagascarMalawiMauritaniaMauritiusMoroccoMozambiqueNamibiaNigeriaRwandaSão Tomé and PríncipeSenegalSeychellesSierra LeoneSomaliaSouth AfricaSouth SudanTanzaniaTunisiaUgandaZambiaZimbabweAntigua and BarbudaArgentinaBahamasBarbadosBoliviaBrazilCanadaColombiaCosta RicaDominican RepublicEcuadorEl SalvadorGrenadaHondurasJamaicaMexicoNicaraguaPanamaSurinameTrinidad and TobagoUnited StatesUruguayVenezuelaAfghanistanArmeniaAzerbaijanBangladeshBhutanBrunei