German business leaders optimistic about future cooperation with China

German business leaders have expressed optimism about the prospect of China-Germany business cooperation.

Over the past five decades, bilateral practical cooperation between the two sides had deepened, with two-way trade growing almost 1,000 times, serving economic and social development in both countries.

Cooperation in the automotive industry had long been a bright spot.

“Germany and China share a partnership that can even further grow, develop and improve,” Oliver Zipse, chairman of the Board of Management of BMW AG said.

He noted that German Chancellor Olaf Scholz’s recent visit to China sent a strong signal toward reinforcing economic cooperation between the two countries.

“The recent messages from the Chinese government on continuing to attract foreign investment, expand opening-up and drive innovation are encouraging.

“The BMW Group is unwaveringly committed to China and will continue its win-win-partnerships with local companies,” Zipse said.

Volkswagen had  over 40 years of cooperation with China, with deep roots in the Chinese automotive industry, the world’s largest.

In the future, the Volkswagen Group would  continue to promote close economic exchanges between China and Germany,  Liu Yunfeng, executive vice president of Volkswagen Group China, said.

Christian Sewing, chief executive officer of Deutsche Bank, said it was a good opportunity for Deutsche Bank to assess developments and maintain dialogue with its partners in China.

German chemical giant BASF Group had been pressing ahead with its strategy in China by investing in a new world-scale Neopentyl Glycol plant, strengthening its position as one of the world’s leading chemical companies.

“Further developing our business in China, where we are competitive with our technologies and market positions, is of high strategic as well as economic value and will further increase our regional diversification,” the BASF Group said.

David Wang, CEO of German furniture manufacturer Raumplus in China, said Sino-German cooperation remained the best choice in light of a complex international situation.

Wang said economic integration and exchange of know-how between nations were necessary to achieve global prosperity.