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Trade

China opens its first European chamber of trade in Berlin

China has officially inaugurated a chamber of trade and commerce in Berlin, the first it is running on the European continent. The world's largest trading nation said it hoped to deepen its ties with German industry.

Chinese Chamber of Commerce opens in Berlin

Opening a chamber of trade and commerce in Berlin on Thursday, Chinese officials said the representation was a sign of Beijing's resolve to strengthen business ties with Europe's largest economy.

The event came amid increased efforts by China to make a name for itself as a reliable investor worldwide and in Germany in particular.

The president of the Association of German Chambers of Industry and Commerce (DIHK), Eric Schweitzer, praised the move, saying he saw it as a sign of the strength of Germany as a business location.

Capital influx desired

"Open markets and competition are main drivers for prosperity and employment, and we explicitly welcome Chinese companies in Germany," Schweitzer commented.

Market experts expected the chamber would get active in paving the way for Chinese companies to take over more German small and medium-sized firms.

In the past few years, Chinese investors have already acquired once struggling German businesses such as forklift maker Kion, automotive supplier Kiekert, concrete pump producer Putzmeister or consumer electronics retailer Medion.

More such takeovers appeared likely also against the background of China's record currency reserves to the tune of 2.79 trillion euros ($3.79 trillion).

hg/dr (dpa, Reuters)

DW.DE

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