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China not out to purchase Europe: Wen (3)

By Ding Qingfen (China Daily)

11:01, February 04, 2012

Last year, Chinese computer giant Lenovo made the biggest purchase since it bought the IBM PC business years ago when it announced it would buy up the German computer firm Medion AG, a deal that will help Lenovo grab 14 percent of the German PC market.

"The brand of Lenovo is still new to German consumers and industries, and we expect the German government will care more about Chinese companies and their growth," said Yang Yuanqing, chairman of Lenovo.

"China welcomes investment from Germany and regards all the registered Germany companies as Chinese companies," said Premier Wen during the forum with enterprises from both sides in Guangzhou. In China, Germany is the largest investing nation from the European Union, and also a major nation that has transferred a lot of technologies to China.

"We expect China to provide the same treatment to German companies as their domestic counterparts," said Merkel.

"It's (investment in China) a win-win situation. We have absolutely no complaints here," said Martin Herrenknecht, chairman and managing director of tunnelling systems of Germany-based Herrenknecht AG, the world's largest tunnel boring machine provider.

"Without China, the financial situation could be worse."

China-Germany trade could reach $200 billion in two to three years, compared with the target of five years previously set by the two sides, said Wen.

Germany is China's largest trade partner in the EU, and its fourth largest worldwide, next to the United States, Japan and South Korea. Last year, China-Germany trade increased by 18.9 percent to $169.15 billion.

Cheng Guangjin in Beijing contributed to this story.

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