Home Sign in Research report Data Center Industry News Custom Research About us
Research report:                          Automotive  |  Electronics  |  Mechanical&Automation  |  New Energy  |  Medical  |  Advanced Materials  |  Building Products  |  Transportation  |  Communication  |  Chemical  |  Finance  |  IT Industry  |  Food  |  Home Appliances  |  Forestry  |  Agriculture  |  Textile  |  Culture Industry  |  Consumer goods  |  Others  |
 Home > Industry News > Finance > Text
China and Germany signed deals worth more than $15 billion
Author:Sino-report    Source:China Daily    Number of clicks :     Update time:2011-06-29 10:47
Sino-report News Center Jun 2011

Both countries set target of doubling annual trade by 2015
BERLIN - China and Germany signed deals worth more than $15 billion on Tuesday as the leaders of the world's top two exporters set a target of doubling their annual trade by 2015.
Premier Wen Jiabao and German Chancellor Angela Merkel attended the signing ceremony in Berlin.
One of the highlights of the ceremony was China's purchase of 62 A320 aircraft from Airbus SAS.
Other contracts, among the 14 deals signed, included an electric car project between German auto giant Volkswagen and its Chinese partner FAW and a factory in Foshan.
Volkswagen also signed a deal with Shanghai Automotive Industry Corporation, while Daimler and the Beijing Benz Automotive Company inked an agreement on investment in new products, engines and a research and development center.
A range of government-to-government cooperation projects covering energy, finance and the environment were also among the deals signed.
"We have signed contracts worth more than $15 billion just now," Wen said at a news conference with Merkel after the signing ceremony.
Merkel said that Germany and China want to double their annual trade to 200 billion euros ($284 billion) by 2015.
"We both take the view that what is good can become better," Merkel said.
She added that China and Germany are "ideal partners" to develop electric cars, for example, and said both sides want to increase investment.
China is prepared to buy more high-quality German goods, Wen said, but he also called for Berlin to quickly grant it formal recognition as a full market economy to help remove trade obstacles.
"We are not forcing anyone into technology transfer," he said and urged Germany to seek a loosening of EU restrictions on technology exports.
German and Chinese observers recognize the potential for cooperation.
Monika Hohlmeier, a German member of the European Parliament, highlighted that the environment, renewable energy and finance are just some of the areas where trade relations could be strengthened.
Germany is Europe's biggest technology exporter to China. By April, contracts worth $52.2 billion, covering a total of 15,448 transfers to China, had been signed. The contracts involved the transportation, telecom and chemical sectors.
Ren Dingqiu, a researcher at Beijing Academy of Social Sciences, said Germany's investment in China can help boost the competitiveness of the domestic manufacturing industry.
"So China should further improve its investment environment and better protect intellectual property rights," Ren said.
China-Germany trade reached $142 billion last year, about one third of the total trade volume between China and the EU. Germany is China's largest trading partner in Europe.
Though China has a trade surplus with Europe, it actually runs a deficit with Germany. Imports from Germany increased 33.4 percent in 2010, resulting in a $6.29 billion deficit.
According to figures released by Beijing, China and Germany have increased mutual investment. By April, Germany had invested in 7,110 projects in China, with financial input totaling $17.67 billion.
China replaced Europe this year to become the "most favorite investment destination" for Germany, and 43 percent of German investors have expressed a desire to boost production in China.
Wen, on his fifth visit to Germany as premier, briefed Merkel on the measures China had taken to counter inflation and maintain stable economic development, while Merkel explained Germany's views on the current European debt crisis.
China has repeatedly said that "when Europe has difficulties, we extend a helping hand", Wen said at the news conference.
"We have said that we have confidence in the European economy, that we have confidence in the euro. We have also said that we support some countries, as needed, in that we buy their government bonds."
Wen insisted that the difficulties of some European Union countries "are of a temporary character".
Commerce Minister Chen Deming agreed to further expand bilateral trade between China and Germany. He suggested that the two countries make full use of the first China-Germany inter-government consultation to enhance economic relations.
Wen arrived in Berlin on Monday for the last leg of his three-nation Europe tour, which has already taken him to Hungary and Britain.


Order Online
Contact Us
Tel: 400-988-9999
Phone :+8615313587056
Online Consultation
Skype: Please Please
Latest Reports
[Finance] Payment market to get opening-up boost
[Finance] Monetary policy to ease funding troubles for small firms
[Finance] Trump, Putin call their talks successful
[Finance] Growing opposition in US to its tariff attack on trade: China Daily editorial
[Finance] The Economic Performance Continued to Stay Stable with Sound Momentum in May
[Finance] Market Price of Important Means of Production in Circulation, June 01-10, 2018
[Finance] Trade standoff hits US and China stocks
[Finance] Life insurance drags on premium income
[Finance] Overseas ratings agencies to launch units in China
Popular reports
The Economic Performance Continued to Stay Stable with Sound Momentum in May
Market Price of Important Means of Production in Circulation, June 01-10, 2018
Trade standoff hits US and China stocks
Industry Data
China opens market to Kenya's agricultural products
China's publishing industry booming over past 40 years
Industrial Production Operation in July 2018
Total Retail Sales of Consumer Goods in July 2018
National Real Estate Development and Sales in the First Seven Months of 2018
NSDP/SDDS for the People's Republic of China
Market Price of Important Means of Production in Circulation, July 01-10, 2018
In the first five months of 2018, the profits made by industrial enterprises above the designated siz
Purchasing Managers Index for June 2018
Market Price of Important Means of Production in Circulation, June 21-30, 2018
In global EV battery shipments during Jan - Apr 2018, LG Chem and Samsung SDI ranked 4th and 6th
Based on Jan - Apr shipment record, Kia Motors Remain on Top 10 in Global PHEV Power Brands Ranking
Consumer Prices for May 2018
Producer Prices for the Industrial Sector for May 2018
Industrial Production Operation in May 2018
Investment in Fixed Assets for the First Five Months of 2018
National Real Estate Development and Sales in the First Five months of 2018
Producer Prices for the Industrial Sector for April 2018
Stable Performance for the National Economy in April
Total Retail Sales of Consumer Goods in April 2018
Industrial Production Operation in April 2018
National Real Estate Development and Sales in the First four months of 2018
Sales Prices of Residential Buildings in 70 Medium and Large-sized Cities in April 2018
Industrial Profits Increased in the First Four Months of 2018
Industry News
Iron and steel sector gains strength
China’s wines take center stage
Machinery manufacturing fair boosts Sino-Russian ties
Medical device manufacturers display their latest technology
Soybean farmers store crops amid hopes of higher prices
Tourism industry opening on agenda
Tech competition eases startups' access to China market
China's excavator sales grow 44.9% in October
China's solid waste imports continue to slump on tightened ban
Delivery orders jump 25.12% to 1.35b on Singles Day
Related Links

Sitemap       |       Join Us      |       Customer Service       |       About Sino-report
Copyright © 2011-2025 Sino-report Consult Inc.
No.18 Zhichun Road, Haidian District. Beijing 100089.China
Information and data contained in this site is for reference only pursuant to operate your own risk