China and Germany affirmed their shared commitment to building an open economy and promoting global trade during Chinese President Xi Jinping’s state visit to Berlin today. German Chancellor Angela Merkel and President Xi Jinping presided over a series of business deals between their countries. Two countries issued a joint statement, which proclaimed the establishment of the China-Germany comprehensive strategic partnership.
With Germany a key trade partner of China, Xi and Merkel talked about 1 billion euro agreement for Germany carmaker Daimler to expand the production of its joint venture with Beijing Automotive Group (DW).
According to Xinhua News Agency, “In the document, China and Germany said they are opposed to trade and investment protectionism and, as both are major exporters, intent on cultivating a fair competition order in the international market.” Two countries will also continue to broaden their economic ties and provide fairer treatment for their enterprises investing in each other’s market. What is more important is that the two sides agreed that fair market access and protection of property rights are significant to fostering healthy economic developments. They will work together to improve these issues.
Although this was his first visit to Europe as president, Xi was able to make stronger economic ties with the European countries. These agreed investment deals between China and the EU will lead to a future free trade agreement, opening up Chinese market more.
(They also talked about the human right issues in China and the current Crimea crisis. Interestingly, Xi said China does not have any interest in the Crimea crisis.)