Sino German cooperation is conducive to the stable development of the global economy

release time:2024/10/28

This year marks the 10th anniversary of the establishment of a comprehensive strategic partnership between China and Germany. Currently, Sino German trade is steadily developing, and economic and trade relations are constantly deepening. The cooperation between the two countries is becoming more stable, solid, and dynamic. According to statistics from the German central bank, Germany's investment in China reached a historic high of 7.3 billion euros in the first half of 2024.

Since the beginning of this year, several large German companies have successively announced the expansion of investment in China and deepened cooperation with China, casting a "vote of confidence" in the Chinese market with practical actions. In March, a joint venture between Mercedes Benz and BMW settled in Beijing, with plans to jointly build at least 1000 advanced technology supercharging stations and install approximately 7000 supercharging piles in China by the end of 2026; Volkswagen announced in April that it will invest 2.5 billion euros to expand its production base and innovation center in Hefei, Anhui Province; Bayer announced in May that it will establish a health consumer goods supply center in Qidong City, Jiangsu Province, and plans to start production in 2028. The first phase of the project will have an investment of 600 million yuan

At the 8th China Germany Automotive Conference held in Munich, Germany recently, nearly 400 guests from the political, automotive, and business sectors of both countries discussed the future development direction and cooperation opportunities of the global automotive industry under the macro background of green, low-carbon, and intelligent.

Attendees expressed optimism about China's economic development potential and investment prospects, supported the continued deepening of economic cooperation between China and Germany, and looked forward to the two countries' automotive industries continuing to move forward hand in hand through mutual learning, mutual promotion, and mutual progress. They also called on the EU to view cooperation with China's automotive industry rationally.

Zhai Qian, Minister of the Commercial Office of the Chinese Embassy in Germany, pointed out that since the establishment of diplomatic relations between China and Germany more than 50 years ago, economic and trade cooperation has been intertwined and coordinated with each other. Looking back, cooperation in the automotive industry has always been a beautiful scenery in the bilateral relationship between China and Germany. In the future, both sides need to strengthen innovation cooperation in areas such as autonomous driving and intelligent networking. The industrial and supply chains between China and Germany are deeply intertwined, and the two markets are highly dependent. The prospects for cooperation in the automotive industry between China and Germany are bright. China welcomes and looks forward to German companies continuing to be companions, participants, and beneficiaries of China's new round of open development.

Yu Guangsheng, Deputy Director of the Investment Promotion Bureau of the Ministry of Commerce of China, stated that the 40 year cooperation between the Chinese and German automotive industries has yielded fruitful results and deep integration, forming a cooperation pattern of "you in me, I in you". In response to the deep integration of the Chinese and German automotive industries, the Investment Promotion Bureau of the Ministry of Commerce has established the Sino German Automotive Conference, an important platform dedicated to serving the cooperation between the two countries' automotive industries, to help Chinese and German automotive industry chain enterprises, especially small and medium-sized enterprises, more efficiently obtain industry information and explore investment cooperation.

German guests generally believe that there is enormous potential for future cooperation in the automotive industry between China and Germany, as well as between China and Europe. They support China and Germany, as well as China and Europe, in leveraging their respective strengths and continuing to deepen economic and trade cooperation in the automotive industry as a representative. In the view of Wiedemann, Director of the International Department of the Bavarian Ministry of Economic Affairs, Regional Development and Energy, Bavaria has maintained a friendly and cooperative relationship with China for a long time, especially in the automotive industry. In the process of global automotive industry transformation, Germany and China bear important responsibilities. We believe that with the joint cooperation of the two countries, various challenges faced by the automotive industry will be effectively resolved. Regarding the recent EU tariffs on electric vehicles from China, Weidman stated that in order to find a long-term solution that benefits both sides, he supports EU institutions to continue constructive dialogue with China.

German and European companies have rich experience in automobile manufacturing, brand building, and international development, while Chinese companies are leading the technological development of future automobiles, with more obvious advantages in new technology fields such as batteries, artificial intelligence, and automotive software. Ferdinand Dudenhofer, an authoritative expert in automotive economics in Germany and director of the Bochum Automotive Research Institute, said that if Europe and China can form a strong alliance, it will be a win-win situation for both sides.

In recent years, China Germany relations have been steadily developing, and cooperation in various fields has been continuously consolidated and deepened. Among them, Bavaria, Germany is at the forefront of local cooperation between China and Germany, and its friendly cooperation with Sichuan, Shandong, and Guangdong provinces in China has made important contributions to deepening Sino German relations.

In order to continue strengthening local cooperation between China and Germany, promote mutual investment between enterprises of both sides, and further deepen economic and trade relations between the two countries, the 10th Bavarian China Summit, jointly hosted by the Chinese Consulate General in Munich and the city of Ingolstadt, Germany, was recently held in Munich.

The friendship between China and Pakistan is deeply rooted and has a long history. Bavaria can be regarded as a pioneer in promoting local friendly cooperation between China and Germany, "said Lin Kai, Acting Consul General of the Chinese Consulate General in Munich. Under the political guidance of the leaders of both sides, the economic and trade cooperation between China and Bavaria has achieved fruitful results. China has been the most important trading partner of Bazhou for several consecutive years, accounting for over one tenth of Bazhou's total foreign trade volume.

Several German politicians attending the meeting expressed their expectations for promoting exchanges between China and Pakistan to lead local cooperation between China and Germany. They hope to deepen cooperation with China in areas such as hydrogen energy, artificial intelligence, and electric vehicles, and support enterprises from both sides to further expand two-way investment.

The strong economic development of Bavaria and the numerous opportunities brought by the Chinese market are indispensable, "said Gotthardt, State Secretary of the Bavarian Ministry of Economy, Regional Development and Energy." By 2023, the bilateral trade volume between Bavaria and China will reach 53 billion euros, an increase of nearly 70% compared to 2020. In order to cope with future challenges and continue innovative development, both sides must maintain close cooperation. "Referring to the recent EU trade protection measures against Chinese electric vehicles, Gotthardt believes that intensifying the conflict is not beneficial to both sides and looks forward to further dialogue and mediation between China and Europe to seek win-win solutions that comply with WTO rules.

In the view of Mayor Shapov of Ingolstadt, both Germany and China are major economies in the world, and their good cooperation will provide key support for global economic stability. Trade wars have never been a good solution for people around the world, and cooperation is the best choice, "said Shapov. As the cooperation between the city and China mainly focuses on the fields of automobiles, mechanical engineering, and information technology, looking to the future, there is still potential for deepening cooperation between the two countries in the areas of environment and climate protection, and education. (Chen Ximeng, Berlin correspondent of Economic Daily)

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