The third China-Germany high-level financial dialogue was held in Frankfurt, Germany, on October 1, 2023, marking a resumption of this important mechanism after a four-year hiatus due to the COVID-19 pandemic. Chinese Vice Premier He Lifeng and German Finance Minister Christian Lindner co-chaired the meeting, which culminated in a joint statement expressing a mutual commitment to strengthen cooperation in the financial sector and expand two-way market opening based on fair competition.
A total of 25 consensuses were reached during the dialogue, highlighting the robust partnership between the two nations. Notably, China and Germany emphasized their dedication to ensuring the security and efficiency of global supply chains. Amid rising discussions in the European Union about “decoupling and breaking links” with China influenced by U.S. policy, the dialogue sent a positive signal reinforcing Sino-German cooperation.
The joint statement affirmed both countries’ resolve to promote sustainable and inclusive growth of the world economy and to ensure the secure and smooth operation of global supply chains. Despite challenges in their bilateral relations, China and Germany continue to hold high expectations for the development of economic and trade ties. As each other’s indispensable trading partners, the two economies are highly complementary in industry, supply chain integration, and consumer markets.
According to the German Federal Statistical Office, China remained Germany’s most important trading partner in 2022 for the seventh consecutive year. The notion of “decoupling” has not significantly impacted German companies’ investment and trade with China. Similarly, at the ninth China-France High-level Economic and Financial Dialogue in July, French Minister of Economics and Finance Bruno Le Maire stated that France does not seek to “decouple” from China, emphasizing that “de-risking” does not imply that China poses a risk.
Furthermore, China and Germany expressed a shared commitment to opposing trade protectionism. The joint statement reaffirmed their dedication to an open world economy, multilateralism, and the creation of a fair and non-discriminatory market environment. In an era where trade protectionism is resurging, Sino-German cooperation holds significant importance for the global economy.
Reference(s):
cgtn.com
