Flags of Germany and China

© istockphoto.com/Nikada - colourbox.de

Federal Minister for Economic Affairs and Energy Brigitte Zypries met with the head of China’s National Development and Reform Commission, He Lifeng, and the Minister of Commerce, Zhong Shan, at the Federal Chancellery.

“China is a very important trading partner for Germany”, the Minister said. “Currently, around 5,200 German companies are operating in China. We want to further strengthen this cooperation. We therefore welcome the fact that the State Council adopted a 20-point plan in January 2017, paving the way for the Chinese government to implement additional economic reforms. This is also important for German companies seeking to invest in China and very much in line with the issues we continue to call for, such as market openness, equal treatment of foreign businesses and the elimination of barriers to trade and investment.”

Minister Zypries also took part in the meeting of the Sino-German Economic Advisory Committee, which was chaired by the two heads of government. The committee meeting saw high-level participation from German and Chinese business representatives and discussed how market openness and a better business environment for German companies operating in China could be delivered in order to get the best out of the bilateral cooperation.

Last year, Germany exported €76.1 billion worth of goods and services to China. Imports from China totalled €93.8 billion. At present, there are some 5,200 German companies in China, which provide approx. 1.1 million jobs there.