China and Germany Aim to Strengthen Economic Ties in Cooperation Talks

China and Germany strengthen economic ties, discuss Ukraine war and trade practices, as leaders mark 10 years of comprehensive strategic partnership.

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Rafia Tasleem
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China and Germany Aim to Strengthen Economic Ties  in Cooperation Talks

China and Germany Aim to Strengthen Economic Ties in Cooperation Talks

Chinese Premier Li Qiang and German Chancellor Olaf Scholz held talks in Beijing on April 16, 2024, marking the 10th anniversary of the China-Germany comprehensive strategic partnership . The leaders discussed ways to enhance mutual understanding and achieve win-win results through dialogue and cooperation.

During the meeting, Li called for the creation of new growth points for cooperation in areas such as new-energy vehicles, digital economy, AI, and green development. He also urged Germany to relax restrictions on high-tech exports to China and provide a fair business environment for Chinese companies operating in Germany.

Scholz expressed Germany's willingness to deepen cooperation with China in finance, agriculture, green transformation, and renewable energy, as well as work together to address global challenges. The two leaders also attended a meeting of the China-Germany economic advisory committee, where Li assured that China will continue to listen to foreign companies and take measures to ensure more companies, including German ones, are willing to invest and operate in China.

Why this matters:In the case of the second and third largest economies in the world, China and Germany have a significant impact on the Eurasian continent and the global economy. Strengthening economic ties and cooperation between the two countries can contribute to addressing global challenges and promoting mutually beneficial development .

The talks also touched on the war in Ukraine, with Scholz reportedly urging Xi to take a more forceful approach against Russia. China maintained its position of not being a party to the conflict and promoting peace talks. The leaders discussed China's exports of dual-use goods that could have military applications, with Scholz insisting there be no weapons exports .

Despite political and trade frictions, China remained Germany's top trading partner in 2023. Scholz's visit underscored the complex relationship between the two countries, as Germany seeks to balance promoting its business interests with raising concerns over China's trade practices and support for Russia.

Li stated that China's new energy industry has become highly competitive through sound market competition, not government subsidies. Both sides agreed to pursue further efforts to make the China-Germany dialogue more effective, trade more dynamic, cooperation closer, and friendship more solid. As Xi emphasized, China and Germany do not have clashing fundamental interests, and their cooperation benefits not just the two sides but also the world.

Key Takeaways

  • China, Germany mark 10th anniversary of strategic partnership, discuss cooperation.
  • China urges Germany to relax tech export curbs, provide fair business environment.
  • Leaders agree to deepen cooperation in finance, green transformation, renewable energy.
  • Scholz presses China on Ukraine war, dual-use exports; China maintains neutral stance.
  • Despite frictions, China remains Germany's top trading partner; cooperation benefits both.