China’s commerce minister met head of German engineering industry association, called for cooperation in new areas
POLICY & REGULATION
China’s commerce minister met head of German engineering industry association, called for cooperation in new areas
POLICY & REGULATION

China’s commerce minister met head of German engineering industry association, called for cooperation in new areas

 

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China’s Minister of Commerce Wang Wentao met with Karl Haeusgen, President of VDMA, the association of Germany’s engineering industry, and the two sides exchanged views on China’s promotion of high-level opening-up, starting cooperation in emerging fields, and stabilizing the industrial chain and supply chain, the ministry said. 

The machinery and equipment manufacturing industry is a key industry for China-Germany cooperation and the two countries should further consolidate the foundation of cooperation, while tapping the potential for cooperation in new areas such as green low-carbon, digital economy, sustainable development, and promote greater achievements in the bilateral economic and trade relations, it said.

“De-risking” should not be politicized or ideologized, and it should not lead to decoupling from China, Wang stressed.

About 80% of German machinery products are for export, “decoupling” is against the interests of German companies and “de-risking” should be assessed by the enterprises themselves to make decisions, said Haeusgen.