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Print Edition> World
UPDATED: July 26, 2010 NO. 30 JULY 29, 2010
Diplomatic Dynamics (30)

China and Germany

China and Germany signed 10 agreements in Beijing during German Chancellor Angela Merkel's recent visit.

Merkel paid her fourth visit to China as German chancellor from July 15-18. Chinese Premier Wen Jiabao said the visit was of "historical significance," as the two nations agreed to elevate their relations to a strategic track.

The agreements covered diverse areas ranging from green energy and culture to truck production.

Under one agreement, China and Germany will create a 124-million-euro ($158 million) "green fund" to encourage emissions reduction and corporate energy conservation.

The two sides will also expand their environmental partnership to cover water resource protection, energy conservation and renewable energy. To boost green energy cooperation, both sides will give support to the establishment of Sino-German eco parks.

The Shanghai Electric Group and Siemens signed a $3.5-billion agreement for the R&D of steam turbines and power generators.

Chinese automaker Foton and Daimler-Benz signed an agreement to establish a joint truck-producing venture. The project, with a total investment of 6.35 billion yuan ($938 million), will be located in Huairou District in suburban Beijing. It is expected to produce 100,000 vehicles and 45,000 diesel engines a year.

The two countries also signed documents on economic and technological cooperation, cooperation both between companies in the service sector and between export credit agencies and on the arrangements for the Year of Chinese Culture in Germany in 2012.

Germany will support the recognition of China by the EU as a market economy, said a Sino-German joint communiqué issued on July 16. China supports the EU's efforts to stabilize its economy and financial markets, while attaching importance to Germany's role in this regard.

Moreover, China and Germany pledged to continue enhancing consultation within the Group of 20 and to oppose trade and investment protectionism.

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