China and Germany, its largest European trading partner since 1975, expressed their willingness of expanding the two-way trade and investment. China hopes German investors maintain their confidence on China’s economy and Germany says it welcomes China’s investment, including sovereign wealth fund.
According to the Ministry of Commerce, Chinese Commerce Minister Chen Deming encouraged German investors to seek more cooperation opportunities in China’s service sector which is growing faster than ever, exploit business potential in China’s less developed central, western areas, realize stronger ties with Chinese SMEs, and develop more new possibilities in the fields of environmental protection and sustainable development.
Mr. Chen was in Berlin for the 13th conference of the China-Germany Joint Economic Committee which he co-chaired with German Economy Minister Michael Glos on Nov. 10.
Chen told German investors that China is fully aware of the significance of intellectual property rights protection in its own development and has set it as a national strategy. He hopes that Germany hold an open attitude toward China’s overseas investment which is still at the beginning stage. He also said China attaches great importance on products quality and would like to strengthen cooperation with Germany on this regard.
Germany, on its side, recognized that China’s sustainable growth is in the interest of Germany’s economy. It encourages Chinese investment, either from the private sector, the state-run enterprises or sovereign wealth fund. .
The two sides agreed to facilitate the market access in the two-way trade. China promises more imports from Germany and hopes Germany to play a positive role in the pending issue of EU’s recognition of China’s market economy status.
China welcomes more investment from Germany, particularly by setting up regional head offices, R&D centers and conducting service outsourcing. It also welcomes Germany’s participation into the reconstruction process in the quake hit areas in Sichuan.
The two sides agreed to work together to secure the stability of the financial market and real economy and push the Doha Development Agenda forward.
Sino-Germany trade will reach 100 billion USD this year, achieving the goals two years earlier set by the leaders of the two countries who decided in 2004 to have the bilateral trade doubled in 2010. Germany is also China’s largest source of tech imports and second largest foreign direct investment. China is Germany’s second largest trading partner outside the EU.
China’s GDP will overtake Germany this year, according to a recent forecast by the National Bureau of Statistics.
By People’s Daily Online
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