Special Report: Global Financial Crisis

Special Report: Premier Wen's "trip of Confidence" to Europe

Chinese Commerce Minister Chen Deming speaks during the German-Chinese business forum and signing ceremony of procurement deals in Berlin, Germany, Feb. 25, 2009. A Chinese procurement team, led by Chen, attended the forum. (Xinhua/Luo Huanhuan) Photo Gallery>>>

    BERLIN, Feb. 25 (Xinhua) -- A Chinese business delegation, led by Commerce Minister Chen Deming, signed here on Wednesday a total of 37 procurement deals worth around 11 billion euros (14 billion U.S. dollars) with German companies.

    According to Chen, the 37 deals are composed of two parts -- purchasing contracts, and cooperation agreements which need further negotiations.

    The deals focus on engineering equipment, electronics and auto vehicles like Mercedes and BMW, Chen told a press conference.

    A draft deal obtained by Xinhua showed that the Chinese side agreed to buy around 37,000 BMW cars and Mini worth 2.2 billion U.S. dollars, as well as 27,000 units of Mercedes cars.

    Chen revealed that apart from the current 200-member delegation, China would send more entrepreneurs to Germany to discuss further investment in both countries.

    Germany is one of China's important trading partners within the European Union (EU). In 2008, the Sino-German trade hit 115 billion U.S. dollars. Despite the world economic crisis, China and Germany have vowed to maintain the trade volume unchanged this year.

Visiting Chinese Commerce Minister Chen Deming (R) talks with German Economic Minister Karl-Theodor zu Guttenberg during the German-Chinese business forum and signing ceremony of procurement deals in Berlin, Germany, Feb. 25, 2009. A Chinese procurement team, led by Chen, attended the forum. (Xinhua/Luo Huanhuan) Photo Gallery>>>

    Prior to the deal-signing ceremony, more than 450 Chinese and German business representatives attended a forum on exploring cooperation opportunities.

    Chen and German Economic Minister Karl-Theodor zu Guttenberg condemned trade protectionism that has cropped out amid the global economic crisis.

    Chen said the procurement deals reflect China's sincere objection to trade protectionism, adding that opening the market is the proper approach to address the global economic recession.

    Guttenberg lauded China's procurement, and joined Chen to slap trade protectionism.

    The 37-year-old minister said Germany and China are top two exporters in the world, noting that trade protectionism is a "wrong answer" to the current global financial crisis.

    Germany and China should join hands to facilitate the Doha round talks, he added.

    Later on Wednesday, the Chinese delegation, composed of over 200 business representatives, flew to Zurich of Switzerland to continue their procurement tour.

Chinese business delegation arrives in Berlin on European procurement tour

    BERLIN, Feb. 24 (Xinhua) -- A business delegation of about 200 Chinese entrepreneurs arrived here Tuesday night, starting their four-state procurement tour in Europe.

    The delegation, led by Commerce Minister Chen Deming and composed of state-owned, joint venture and private companies from various industries, are expected to sign deals of purchasing automobiles, machinery, aircraft engines, railway equipment and components with companies from Germany, Switzerland, Spain and Britain. Full story

German, Chinese ministers condemn protectionism

    BERLIN, Feb. 25 (Xinhua) -- German Economy Minister Karl-Theodor zu Guttenberg and Chinese Commerce Minister Chen Deming on Wednesday condemned protectionism, saying that opening markets is the proper approach to addressing the global economic crisis.

    The two ministers spoke at a German-Chinese business forum in Berlin. A Chinese procurement team, led by Chen, attended the forum. Full story

China purchase group to leave for Europe in late-Feb

    BEIJING, Feb. 16 (Xinhua) -- A Chinese delegation of businesses and industry associations will leave for four European countries late this month to purchase products ranging from equipment to technology, a commerce ministry official said here Monday. Full story

Premier: China, Europe need to strengthen cooperation to deal with financial crisis

    LONDON, Feb. 2 (Xinhua) -- Visiting Chinese Premier Wen Jiabao said here on Monday that China and European countries should strengthen cooperation to deal with global financial crisis.

    Speaking at a joint news conference after talks with his British counterpart Gordon Brown, Wen said that during his week-long "trip of confidence" to five European countries, he met with European leaders for talks on issues of common concern, especially the global financial crisis, and achieved "fruitful" results. Full story