Officials from China's tourism office are looking at investing in hotels and resorts in Spain, which has been badly hit by the financial crisis.
A delegation from China, a country that spent a record £66bn on international tourism last year, is understood to have recently made a whistle-stop tour of Spanish destinations, including the island of Majorca.
Spain, where nearly 12 per cent of the economy relies on tourism, has a target of attracting one million Chinese visitors by 2020. This is a more than fivefold increase in Chinese tourists on 2012.
According to the United Nations World Tourism Organisation, China is the world's fastest-growing market for outbound tourism.