In a recent business confidence survey conducted by the German Chamber of Commerce in China, it was found that there is a strong optimism regarding the future of economic and trade cooperation between China and Germany. The survey revealed that 91 percent of the 566 member companies expressed their commitment to continuing operations in China, with more than half planning to increase investments in the Chinese market.
This positive outlook is further supported by the continued investment of major German companies in China, such as Siemens, Mercedes-Benz, BASF, Volkswagen, and BMW. These companies have shown confidence in the Chinese market by increasing their presence and investments in the country.
During a meeting between Chinese President Xi Jinping and German Chancellor Olaf Scholz, both leaders emphasized the importance of strengthening the cooperation between China and Germany in the face of global instability. President Xi highlighted that the partnership between the two countries not only benefits them but also contributes to global prosperity.
Chancellor Scholz, during his visit to China, visited several joint ventures between German and Chinese companies, including Bosch Hydrogen Powertrain Systems and Covestro’s Asia-Pacific innovation center. He praised the collaboration between the two countries and expressed admiration for the innovative efforts in areas like new energy vehicles.
The establishment of new joint ventures, such as the one between Mercedes-Benz Group China Ltd. and BMW Brilliance Automotive Ltd., and Volkswagen Group China’s significant investment in expanding its innovation hub in Hefei, further demonstrates the commitment of German companies to enhance their presence in China.
President Xi reiterated that the cooperation between China and Germany is not a risk but an opportunity for both countries. He emphasized the importance of mutual respect, seeking common ground, and pursuing win-win cooperation to ensure the solid and sustained progress of bilateral relations.
The strong and enduring relationship between China and Germany, marked by the 10th anniversary of their all-round strategic partnership, has had a significant impact not only on the bilateral level but also on the Eurasian continent and the world. With a bilateral trade volume of 253.1 billion euros in 2023, China remains Germany’s top trading partner for the eighth consecutive year.
The two countries have held high-level consultations and dialogues to enhance cooperation in various fields, including climate change response, innovation, advanced manufacturing, and vocational education. The recent China-Germany Dialogue Forum on Financial Cooperation aimed to deepen financial ties and achieve more mutually beneficial outcomes.
As China and Germany continue to foster mutual understanding, exchange knowledge, and collaborate for shared success, their relations are expected to maintain a solid and sustained progress. This alliance serves as a model for international cooperation and economic partnership, benefiting both nations and the global community.
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