Op-Ed Contributors

Win-win opportunities

By Li Keqiang (China Daily)
Updated: 2011-01-06 07:56

China's trade with Germany in 2010 is expected to exceed $140 billion, an equivalent of nearly 30 percent of China's trade with the EU. And for the first time, China has become Germany's largest source of imports and its top trading partner outside the EU. Exchanges and cooperation between the two countries in culture, science and technology, education, health and judicial affairs have been fruitful.

Under the new circumstances, China's sustained, steady and fast economic growth, and its continued reform and opening-up will offer new opportunities for China-Germany cooperation in economic, trade and other areas.

On expanding cooperation in trade.

China's total imports from the rest of the world may well reach $1.5 trillion this year. Germany, a major equipment producer and technology exporter, is China's important partner. The two countries can work jointly to maintain an open market and promote trade and investment liberalization and facilitation, jointly call for the proper settlement of trade frictions through consultation, and jointly oppose all forms of protectionism. We hope that the EU will relax restrictions on high-tech exports to China, promote the improvement of the international trade and financial regime, and develop trade relations that are balanced and sustainable.

On promoting mutual investment.

China welcomes the presence of more foreign investment in China, particularly in such areas as modern agriculture, high and new technology, energy and environmental conservation, new energy and new materials. We also encourage capable and credible Chinese companies to invest abroad. Currently, Germany's investment in China accounts for only 2 percent of its overseas investment, and China's investment in Germany is just a little more than $1 billion. While we consolidate and deepen our productive cooperation in traditional areas such as machinery, automobiles, the chemical industry, electronics, our two countries should continue to tap our potential and explore new areas of cooperation, such as the development of the green economy.

On improving the investment environment.

China will continue to improve foreign business related laws, regulations and policies, and give protection to intellectual property rights in order to provide a level playing field and a stable, orderly, transparent and predictable market environment for all market players. All foreign companies registered in China in accordance with China's laws are entitled to the same treatment as their Chinese counterparts. A total of 4,500 German companies now have investments or are doing business in China. We hope the number will grow even bigger. We also hope that it will be more convenient for Chinese companies to invest and start business in Germany.

On expanding opening-up in the service sector.

More than 100 service sectors in China have been opened up since China joined the WTO. To further develop the service sector and scale up international exchanges and cooperation, China will open still further financial and logistic services, steadily open up the education, health and sports sectors, and bring the services up to international standards. We welcome German companies to invest more in China's modern services.

On deepening cultural and people-to-people exchanges.

Our two countries will jointly hold the "Year of Chinese Culture" in Germany and the "China-Germany Bridge to the Future" forum. These events will deepen the mutual understanding and friendship between our peoples. Moreover, German music, drama, films and other cultural products can enrich the Chinese people's lives. Germany's advanced medical and pharmaceutical equipment and technologies may benefit more Chinese patients. And more and more German coaches, excellent in their ranks, may come and train teams in China. China-Germany cooperation in cultural and people-to-people exchanges enjoys excellent prospects.

 

The coming five years will be crucial to China's goal of achieving moderate prosperity in all respects. As the progress in China accelerates in industrialization, IT application development, urbanization, market-oriented development and internationalization, more than 10 million rural residents will move to cities every year, and urban and rural incomes will increase significantly. It will unleash more potential domestic demand, and quickly raise the demand for both consumer goods and investment goods. All this will create new opportunities for China and Germany, two economies that are highly complementary, to deepen practical cooperation in a wide range of areas.

I am confident that as China deepens reform and opens wider to the world, China's cooperation with Germany in business and other fields will achieve even greater progress and bring more tangible benefits to our peoples.

The author is vice-premier of China.