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|Saturday, April 21, 2001, updated at 20:13(GMT+8)|
Shanghai and Berlin Promote BusinessA German business delegation led by the governing mayor of Berlin brings with it more opportunities for co-operation between Shanghai high-tech companies and their German counterparts, business negotiations held Friday indicated.
The delegation - Berlin Business Mission - is made up of representatives of 14 Berlin-based high-tech companies and top Berlin officials.
Shanghai has become the concentration point of German businesses in China in the past 10 years. Berlin and Shanghai have worked on several joint projects, according to Governing Mayor Eberhard Diepgen.
"In the future, the two cities will continue to develop side by side, as they share mutual benefits," said Diepgen.
Latest statistics indicate that Germany is China's fourth-largest trade partner.China has attracted direct investment from 1,600 German companies, 650 of which have set up their joint ventures or representative offices in Shanghai.
The trade volume between Shanghai and Germany added up to US$3.6 billion in 2000.
During this visit, the investment priority for the German delegation is high-tech industrial sectors of the city, according to Klaus Grimm, general manager of the Delegation of German Industry and Commerce in China.
"Environment industry, biochemistry, IT and public transportation service are the focal points of the business negotiations," added Diepgen.
The ongoing rapid transit magnetic train project is establishing even closer ties between companies in Shanghai and Germany, said Kurt Leonberger, German consul general in Shanghai.
The project is valued at US$1.1 billion. The government of Germany will invest 400 million deutsche marks (US$181.8 million) to support the project, said Diepgen.
"The mission will give us more chance to contact potential partners, which will facilitate the magnetic train project," said Gao Yuhua, general manager of Shanghai Jinjiang Trading Co Ltd, which handles the project.
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