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People's Daily Online>>Foreign Affairs

Germany's Hamburg seeks trust, chance in China (2)

By Chen Lidan (People's Daily Online)

14:25, November 16, 2011

H.E.Mr.Michael Schaefer (L-2), German Ambassador to China, and Olaf Scholz (L-3), First Mayor of Hamburg are meeting in Beijing, Nov.14, 2011. (People’s Daily Online/Chen Lidan)

"The euro is comparatively stable and inflation in the euro zone is quite low," said Scholz, "If there were no euro, Germany would have to suffer the painful appreciation of the Deutsche Mark. For an export-oriented economy like Germany, it is very harmful."

Scholz also aired strong faith in the European Union's capability of handling with the debt crisis. He said Greece’s economy only accounts for as little as 2.5 percent of the E.U. GDP, and the European Union has worked out solutions to tame the crisis.

Getting down to business

Hamburg is Germany's largest port and carries more than half of the country’s trade to China. The city is one of the three major civic aviation manufacturing centers in the world. Therefore, the visit follows a schedule that focuses on dialogues with Chinese partners on sectors key to Hamburg's further development.

Executives from firms involved in shipping, aviation and finance will discuss cooperation and investment opportunities with their Chinese counterparts, such as Cosco Group and China Eastern Airlines Corp.

As one of the major missions, the delegation will also present Hamburg’s business-friendly environment to Chinese investors.

So far, more than 400 Chinese firms have opened offices in Hamburg, far ahead of other European cities.

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