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China and Germany pledge closer economic cooperation

ChinaDiplomacy

China and Germany pledge closer economic cooperation and ‘smooth supply chains’

Vice-premier He Lifeng and Finance Minister Christian Lindner met in Frankfurt on Sunday for the first talks of their kind in nearly four yearsEarlier, ambassador Wu Ken urged Europe to show more ‘self-confidence’ about Chinese electric vehicles and Huawei’s componentsChina-EU relationsMinnie ChanPublished: 7:43pm, 1 Oct, 2023Why you can trust SCMP

China and Germany agreed to strengthen economic cooperation and open up financial markets to spur economic growth and counter global challenges after resuming high-level talks in Frankfurt on Sunday.

Both sides agreed to strengthen policy coordination and defend global financial security and global trade rules, according to a statement published by the Chinese finance ministry after the talks between Vice-Premier He Lifeng and German Finance Minister Christian Lindner.

The statement said they also agreed to “ensure smooth supply chains” without providing further details.

The talks came at a time when the two countries are struggling to manage the risk of economic downturn and follows the publication of a German plan to “de-risk” its relationship with China by reducing its reliance on goods produced in the country.

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