China, Germany agree to oppose protectionism
text_fields
German Chancellor Angela Merkel (R) shakes hands with Foreign Minister Heiko Maas (L) as Finance Minister and Vice-Chancellor Olaf Scholz (C) looks on prior to the weekly cabinet meeting at the Chancellery in Berlin on January 15, 2020
"Berlin: China and Germany have agreed to unequivocally oppose protectionism and safeguard free trade system based on multilateral rules to promote strong, sustainable and balanced global economic growth.
Chinese Premier Li Keqiang and German Chancellor Angela Merkel on Monday co-chaired the fifth round of intergovernmental consultations and made the announcement in Berlin, Xinhua news agency reported.
Both sides agreed to deepen cooperation in finance and economy, make full use of high-level financial dialogue and other mechanisms, strengthen communication in macroeconomic policy and build financing platforms concerning bilateral and third-party markets.
Germany appreciates China's further measures to open its financial market, and China supports the construction of Frankfurt financial centre and the offshore market of renminbi.
The two countries agreed to promote bilateral cooperation in economy, trade and investment, jointly safeguard free trade and an international market based on fair and recognized rules and relax market access.