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10/09/2014

German Economy Calls for Next Stage of Market Opening in China

  • Equality of treatment must be guiding principle
  • Further reduction of existing investment barriers
  • Improvement of fair competition in third markets
In the run-up to tomorrow's third German-Chinese governmental consultations, the Asia-Pacific Committee of the German Economy calls for further opening moves of China towards overseas investors. "A new stage of opening the market is an important building block for the further development of the Chinese economy. An open market will set trends for more sustainability in China's development and put the prosperity of the Chinese society on a more stable footing," said Hubert Lienhard, Chairman of the Asia-Pacific Committee of the German Economy (APA).

Parallel to the governmental consultations there will also be economic talks between Chinese and German companies on Friday 10 October. At the 7th German-Chinese Forum for Economic and Technological Cooperation, German company representatives will enter into an exchange with the approximately 130 members of the Chinese business delegation about the further expansion of their cooperation, especially in the areas energy transmission, recycling and health industry.

The German economy advocates the equal treatment of German and Chinese investors in the Chinese market. "Our companies create value in China, they employ Chinese people, they grant access to high-end technologies for their Chinese subsidiaries and pay local taxes. They practically act like Chinese companies and, in our opinion, deserve equal treatment," stated Hubert Lienhard. For the APA, equality of treatment also means that German companies and their products and services are treated like domestic companies during public tenders. They should also have an opportunity in all sectors to set up independent investments without joint venture partners. With the global presence of Chinese companies, fair competition rules are also becoming increasingly important, for example for export credits or in the raw material trade.

China is meanwhile the most important trade partner and the leading target country for German investment in Asia. Last year, German companies exported goods with a value of EUR 67 billion to China. The volume of German direct investment in China amounted to some EUR 50 billion last year. Last year alone, the profits generated and reinvested in China by German companies amounted to nearly EUR 4 billion.

About the APA

The Asia-Pacific Committee of the German Economy is the voice of the German industry in Asia in a dialogue with German politics and Asian partner countries. The APA pools the Asia-related interests of German companies. It envisages a more intensive cooperation with the countries of the Asia-Pacific Region and the promotion of trade and investment in both directions. The APA is an initiative of BDI, DIHK, OAV, BGA and the Banking Association.

Contact

Markus Woehl

Voith GmbH & Co. KGaA

Head of Corporate Press Office

 

t +49 7321 37 2219

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