China, Germany set to prosper from collaboration, mutual trust

Officials and business leaders in Germany pin great hopes on the collaboration and mutual trust between China and Germany, which they believe are key to the growth and prosperity of the two countries, which mark their five decades of diplomatic ties this year.

China has been Germany's most important trading partner for six years in a row, starting from 2015, Germany's Federal Statistical Office (Destatis) said. In just 10 years' time from 1980 to 1990, China surged from the 35th to 14th place among the most important importers for Germany.

"China's importance for German imports is growing steadily," Destatis noted.

China is one of the world's most important growth markets and also an important partner for Germany in tackling global challenges such as the COVID-19 pandemic and climate change, said Juergen Friedrich, chairman and chief executive officer (CEO) of Germany Trade &Invest, the country's foreign trade and inward investment agency.

The aggregate volume of bilateral trade reached a new record in 2021, Friedrich said, adding that German companies in China "continue to express investment intentions, including the localization of production and research and development" in China.

Noting that this year marks the 50th anniversary of the establishment of China-Germany diplomatic relations, Oliver Zipse, chairman of the Board of Management of BMW AG, said, "Our experience in China is a good example of successful collaboration between the two countries and between China and Europe."

"From our perspective, collaboration and mutual trust are key to addressing the ongoing challenges that lie ahead for all of us. And they are key to creating growth and prosperity," he added.

The future prospects are further brightened by China's policy decisions, said Zipse. "Looking ahead, we are encouraged by China's pledge to further open its market, as well as its efforts to promote green development and innovation."

German companies attach great importance to practical and mutually beneficial cooperation with China and derive tangible benefits from their cooperation with China, said Wang Weidong, chief of the Economic and Commercial Department at the Chinese Embassy in Germany.

Wang told Xinhua that German companies have a great interest in expanding and deepening their economic and trade cooperation with China.

"China and Germany have made important achievements in their cooperation over the past 50 years for the benefit of the people of both countries and the world, and this mutually beneficial cooperation is particularly valuable in the turbulent situation facing the world today," Wang said.