Special Report: Global Financial Crisis
ZURICH, Switzerland, Feb. 25 (Xinhua) -- China
remains fully committed to free trade and believes it is the right way to help
the world out of the financial crisis, Chinese Commerce Minister Chen Deming
"No country can escape the global financial crisis
and economic downturn. Only through opening markets can we solve the problem,"
Chen told Xinhua in an interview Wednesday evening as he arrived in Zurich at
the head of a large business delegation.
Switzerland is the second stop on the delegation's
four-nation tour to buy goods and technology.
Chen said the group's trip is a concrete move taken
by China to fight protectionism.
"It shows China's willingness to overcome the current
economic difficulties together with others," he said.
Chen pointed out that Europe and the United States
had spent more than 1.5 trillion U.S. dollars on their economic stimulus
packages. However, in an apparent reference to the United States, he said if
every country limits spending to within its borders and requires purchase of its
own products, it will harm chances of a global recovery.
The U.S. government recently passed a
787-billion-U.S. dollar stimulus package containing a "buy American" provision,
which stipulates that public works and building projects funded by the stimulus
use only U.S.-made materials.
The provision has raised concerns about protectionism
and been met with strong criticism from foreign governments and business groups.
In contrast to the "buy American" provision, China is
adopting an open trade approach by sending companies to "buy European" goods.
Earlier Wednesday, the delegation wrapped up their
first stop in Germany, signing 37 procurement deals worth about 11 billion euros
(14 billion U.S. dollars) with local firms.
Chen said the expected purchase deals with
Switzerland would be modest compared with Germany due to the gap in the two
countries' economic scales. He put the price tag at 300 million U.S. dollars.
"Swiss companies have an advantage in precision
machinery, pharmaceuticals and chemical industry," Chen said, adding that such
products would be essential to facilitate the adjustment of China's economic
structure and growth mode.
The Chinese delegation is scheduled to meet Swiss
companies on Thursday morning and fly to the Spanish capital of Madrid later in
the day. Their last stop will be Britain.
Chen is expected to meet Swiss Economy Minister Doris
Leuthard to prepare for negotiations on a free trade deal between the two
countries agreed upon during Chinese Premier Wen Jiabao's recent visit to
In view of the WTO headquarters being located in the
Swiss city of Geneva, Chen also expressed readiness to increase multilateral
Chen said it was a pity that the Doha Round of global
trade talks remained deadlocked after seven years of negotiations.
A key effort to revive the round at the end of last
July failed again due to differences between the United States and India on a
special protection mechanism for agricultural products of developing countries.
"The world multilateral trading system should carry
on," Chen said. "A fair and transparent multilateral trading system can boost
confidence and is conducive to world economic recovery."
He said China is playing a bigger role in the Doha
Round of talks and will throw its full weight behind WTO Director General Pascal
Lamy is slated to pay a visit to China in April, with
the Doha Round high on the agenda, according to Chen.
For Chen, the buying mission is merely a beginning.
He said there would be more Chinese delegations coming to Europe with the aim to
promote bilateral trade and investment.
"China cannot save the world, but China will show
that it will be able to keep its economy in shape, and that will be a big
contribution to the world," said Chen. "China will stand against protectionism
and remain committed to open market in trade and investment."
Chinese trade delegation to Europe expected to sign deals worth $15 bln
BEIJING, Feb. 24 (Xinhua) -- A delegation of about 200 Chinese entrepreneurs left on Tuesday afternoon for Germany, the first stop of a European visit during which they could sign a series of deals worth up to 15 billion U.S dollars, as predicted by insider sources.
The procurement team, led by commerce minister Chen Deming and composed of state-owned, joint venture and private companies from various industries, will also visit Switzerland, Spain and Britain. Full story
China, Germany sign procurement deals
worth around 11 bln euros
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. Full story
German, Chinese ministers condemn
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
Interview: German business leader says
China is reliable partner in crisis
BERLIN, Feb. 25 (Xinhua) -- China intensifies
cooperation with its European partners while some other countries retreated to
trade protectionism, it proves that China is a reliable partner in global
financial crisis, said a German business leader Wednesday.
"Under the background of global financial crisis,
China still sent procurement team to Germany to buy over 10 billion U.S. dollars
of goods, China is thus a reliable partner in crisis," said Juergen Heraeus,
Chairman of the China Council of Asia-Pacific Committee of German
Business. Full story
China's trade-investment tour in
Germany produces win-win deal
BERLIN, Feb. 25 (Xinhua) -- Those present at the
conference hall of the Asia-Pacific Committee here Wednesday afternoon grinned
as Ulrich Vohskaemper from German company SMS Meer signed a contract with Ya
Jitai from China's Yankuang Light Alloy Co., Ltd.
Under the contract, Yankuang will purchase extrusion
production lines worth 57 million euros (around 73 million U.S. dollars) from
SMS Meer. Full story