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11/21/2024 11:26:45 pm

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Premier Li Keqiang’s Germany Visit Focuses On Trade, Innovation

Chinese Premier Li Keqiang

(Photo : Reuters /Odd Andersen) Chinese Premier Li Keqiang (L) arrives with German Chancellor Angela Merkel at the Meseberg Palace in Berlin, Germany on May 26, 2013.

Chinese Premier Li Keqiang has met on Friday with German Chancellor Angela Merkel in Berlin to boost economic relations between trading giants and to secure partnership for China's innovative economic transformation program.

Li was invited by Merkel who will roll out about 30 investment and cooperation deals that would beef up the countries' already massive trade partnerships.

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Li's entire visit would bring in up to US$2.5 billion dollars' worth of bilateral investment deals, Channel News Asia reported.

The visit is also expected to outline a unique bilateral cooperation program that is poised to cover the next five to 10 years.

According to Germany's minister for economic affairs and energy, Sigmund Gabriel, innovation will figure prominently in the Sino-German talks.

Xinhua reported that the Sino-German program centers on enhancing China's innovative capacity and is designed to shore up the country's bid for economic transformation.

The Chinese government's economic policy is now more centered on qualitative rather than a quantitative growth-an indication of China's economic stabilization, Gabriel said. Germany has the appropriate technologies to shore up China's innovative economic transformation, he told China Daily.

On Friday, Li will sign the innovation program as China holds its third governmental consultation with Germany.

The program is meant to secure cooperation deals in fields like environmental protection, technology, agriculture, social welfare, urbanization, and medical treatment. China is also seeking to use Germany's green technology to aid the country's massive economic growth.

China, the world's second largest economy and the world's largest carbon emitter, is pressed with social and environmental challenges as its economy continues grow.

According to an expert in environmental research and innovation at the Berlin-based Mercator Institute for China Studies, Bjorn Conrad, China has made great efforts in the past to boost its innovative capacity.

But Asia's economic giant may still learn a great deal from German companies that rely on energy-efficient and environment-friendly technologies, Gabriel said.

This is Li's second visit in Germany since he became China's premier last year. It is part of his European tour that also includes visits to Russia, Italy and the headquarters of the United Nations Food and Agricultural Organization.

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