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Berlin - A Chinese business delegation launched an 11 billion-euro (15 billion-dollar) European spending spree Wednesday by signing agreements to buy goods from about 300 German companies, the Federation of German Industry (BDI) said. In particular, the intention-to-buy agreements were for goods from electrical engineering companies as well as firms from the electronics and automotive sectors with the trade mission visiting Europe against the backdrop of a deepening economic recession. After Germany, the 300-member delegation, which is headed up by Chinese Trade Minister Chen Deming, is to travel to Switzerland, Spain and Great Britain.
The 27-member European Union is China's biggest trading partner. But despite the economic slowdown "China is intensifying the co- operation with its European partners," said Juergen Heraeus, who is the China expert of the BDI's Asian-Pacific committee. Heraeus also called on China not to step back from moves to open up its market. This comes in the wake of concerns expressed by German companies that some regional Chinese governments were showing a preference to local firms in business deals.
The 27-member European Union is China's biggest trading partner. But despite the economic slowdown "China is intensifying the co- operation with its European partners," said Juergen Heraeus, who is the China expert of the BDI's Asian-Pacific committee. Heraeus also called on China not to step back from moves to open up its market. This comes in the wake of concerns expressed by German companies that some regional Chinese governments were showing a preference to local firms in business deals.
