Lyu made this statement at the Foro Espana Internacional organized by Nueva Economia Forum, Spain's leading debating organization.
"Although China and Spain have progressed satisfactorily in our cooperation and mutual benefit," he said, "we should recognize there is a great potential to exploit when we take into account the great volume and complementary character of the economy of both countries."
Lyu specified that both countries could intensively cooperate in the communication and connection of infrastructures, energy exports, environmental protection, telecommunications and financial sector.
He also encouraged both countries to reinforce cooperation on education, culture and academic studies.
He highlighted the role of the cargo train Yixinou, which connects Madrid and Yiwu, China, boost the economy of the two countries and all the countries the train passes by.
Lyu also announced that China intends to increase the number of direct flights between China and Spain in order to boost tourism in Spain, "China's best friend in the European Union," he said.