Xi oversees raft of trade deals on first day of Germany visit
Print Edition
CHINESE Presdient Xi Jinping yesterday presided over the signing of a string of deals with automakers and others as he began a visit to Germany.
Xi was making his first visit as president to Germany, Europe’s biggest economy, as part of a wider European tour that also has taken him to neighboring France.
Business ties took center stage at Xi’s meeting with German Chancellor Angela Merkel.
The two leaders oversaw the signing of deals including agreements for automakers Daimler and BMW to deepen ties with their Chinese partners, and a deal between the countries’ central banks that will allow yuan-denominated payments to be cleared and settled in Germany’s financial center, Frankfurt.
Among the pacts signed on the day was a 1 billion euro deal between German auto giant Daimler and its Chinese partner Beijing Automotive Industry Corp (BAIC) Group.
The two companies agreed to expand production at their Beijing-based venture Beijing Benz, which makes cars, including Mercedes E- and C-Class models, for the Chinese market.
China and Germany, two of the world’s leading exporters, had a bilateral trade volume last year of 140.4 billion euros (US$193 billion) — making China Germany’s third-largest trade partner.
Merkel said Germany will push for the quick conclusion of an investment agreement between China and the European Union “which could also be a precursor for a future free trade agreement.”
Xi’s visit comes as the EU has imposed sanctions against Russia over its annexation of Crimea from Ukraine.
China earlier this month abstained on a resolution declaring a referendum on Crimea’s status illegal rather than joining Moscow in using its veto.
Asked whether China should stand up more assertively against Russia’s actions in Ukraine, Xi said that “China has no private interests” on the matter and added that Beijing always insists on non-interference in other countries’ internal affairs, as well as respecting nations’ territorial integrity.
China has “an open position toward all concepts that serve to calm the situation and bring about a political solution,” Xi said during a joint press conference with Merke.
“If I were Russia, I would not be satisfied with the number of votes in favor of Russia,” said Merkel.
Before meeting Merkel, Xi, accompanied by his wife Peng Liyuan, was greeted with military honors by his counterpart Joachim Gauck at the presidential palace.
Xi used a speech later yesterday to recall Japan’s wartime invasion of the Chinese city of Nanjing and say that such atrocities “are still fresh in our memory.”
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