China's Commerce Minister Wang Wentao met with visiting German Foreign Minister Johann Wadephul in Beijing on Monday, and called on German companies to seize opportunities and deepen cooperation with Chinese partners in traditional and emerging sectors.
Wang noted that economic and trade cooperation between China and Germany has helped both sides develop industrial integration, interconnected markets, and complementary technologies, stabilizing and deepening bilateral relations, while also promoting the healthy development of China's trade and economic relations with the European Union (EU).
"We welcome German companies to seize new opportunities, consolidate cooperation in traditional sectors including machinery, automobiles, and chemicals, and tap the potential for cooperation in emerging businesses such as clean energy, intelligent manufacturing and biopharmaceuticals," said Wang.
Wang also noted that the current trend of politicizing trade and economic issue is on the rise, and global industrial and supply chains are being severely disrupted as a result. China and Germany, as well as China and the EU, should uphold free trade and safeguard the multilateral trading system with the WTO at its core, Wang said.
Wadephul said Germany opposes protectionism and considers China its most important trading partner. He added that Germany wants to maintain and expand the positive momentum of cooperation.
"China is a driver of innovation and a major hub for high technology in many aspects. We are very keen to maintain exchanges with China both economically and scientifically," said Wadephul.
China and Germany are the world's second and third biggest economies. According to German data, China was once again Germany's largest trading partner in the first three quarters of this year.
China’s commerce minister meets with German FM, calling for deepening cooperation
China’s commerce minister meets with German FM, calling for deepening cooperation
