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November 4, 2016

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China, Germany investment surging

A CHINESE-GERMAN economic forum in southwestern Sichuan Province yesterday called for a fair competitive environment for investors.

The event was part of the Western China International Fair, which opened in the provincial capital, Chengdu. The forum was attended by more than 350 delegates, including executives from dozens of heavyweight German companies.

German Vice Chancellor Sigmar Gabriel said Chinese investment in Germany had surged in recent years and the prospects were promising.

He raised the hope that China can continue to reduce restrictions on foreign investment and that companies from both countries can enjoy a fair competitive environment in China.

Chinese State Councilor Wang Yong said China will work to make investment easier for foreign companies. In return, he hopes Germany will treat Chinese investors equally. In his opening speech, Gabriel said Germany is an open market, with no restrictions except for security matters.

Last month, the German government resumed a review of Chinese investor Fujian Grand Chip’s proposed purchase of German machine builder Aixtron, citing security concerns.

As business links between the two countries grow, Wang said China will promote bilateral cooperation in the fields of equipment manufacturing and renewable energy.


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