China-Germany economic forum eyes fair competition

CHENGDU - A China-Germany economic forum was held on Thursday in Southwest China's Sichuan province as delegates from both countries called for a fair competition environment for investors.

The event was part of the Western China International Fair, which opened Thursday in Chengdu, capital city of Sichuan. The forum was attended by more than 350 delegates, including executives from dozens of heavyweight German companies.

German Vice Chancellor Sigmar Gabriel said Chinese investment in Germany has surged in recent years and the prospects are promising.

He raised the hope that China can continue to reduce restrictions on foreign investment and that companies from both countries can enjoy a fair competition environment in China.

Chinese State Councilor Wang Yong said China will work to make investment in China easier for foreign companies, including German ones. In return, he hopes Germany will treat Chinese investors equally.

In his opening speech at the forum, Gabriel said Germany is an open market, with no restrictions except for matters concerning security interests.

Last month, the German government resumed a review of Chinese investor Fujian Grand Chip's proposed purchase of German machine builder Aixtron, citing security concerns.

The two sides have also vowed to enhance economic ties. Gabriel said he hopes China-Germany economic cooperation could be deepened. Wang said China will promote bilateral cooperation in the fields of equipment manufacturing and renewable energy, and between the two countries' mid-sized and small enterprises.

Last year, bilateral trade between the two countries exceeded 163 billion euros, up 5.6 percent year-on-year.