00:00Germany's Finance Minister has arrived in Beijing to press for more stable trading relations
00:05with China. Lars Klingveld became the first member of Germany's new coalition government
00:10to make the visit. China's Vice Premier, Hurley Fung, says he hopes Germany will use its influence
00:16to help strengthen relations between the world's second largest economy and the European Union.
00:21Kai Schultz is a partner and lawyer at Oracle Law Global in Frankfurt. Kai, welcome, good
00:27to see you. Just how significant is this meeting?
00:33Thank you very much, Amy. Thank you for having me. It is highly significant because it reflects
00:38the global importance of both economies. China and Germany are among the world's leading
00:44industry zones and their economic exchanges shapes global supply chains and international
00:50markets. Last year, for example, the bilateral trade reached 246 billion euros, making China
00:58Germany's top trading partner for the age year in a row. With economies in this scale, transparency
01:04and predictability become essential for long-term investment decisions. From my own experience
01:10working with Chinese clients, and as you prepare to open an Oracle Law Office in China, I see
01:17a strong desire on both sides to maintain stable and constructive incorporation. Germany is
01:23also reviewing some dependencies in raw materials and technologies, not dramatically, but in a proactive
01:30and strategic way. China's reiterated its commitment to opening up its financial sector. What's the potential
01:38for both sides, Germany and China on that? I think that Germany is one of the, as I just said, important
01:54partners and Germany and China remain deeply connected. In 2014, for example, China accounted for over 21% of the EU's
02:06EU's imports and around 8% of EU exports, making it one of the Europe's most important trading partners.
02:14And Europe is increasing its focus on resilience and risk management, but there is also a strong desire to
02:20deepen cooperation in areas such as climate action, innovation and global infrastructure. Transparency is my, in my opinion,
02:29in standards, procedures and regulations helps companies in both sides operate with greater confidence.
02:36Overall, in my opinion, the relationship is moving towards structured, stable and mutually beneficial cooperation,
02:42reflecting the global weight both economies carry. China has called on Germany to help improve
02:49China-EU economic relations. How realistic is that?
02:59It is, in my opinion, realistic, because as also the German finance minister said, there is a need for fair and
03:10transparent market conditions. This is a general concern, which is directed to everyone, not only to China. So for major
03:24economies like Germany and China, I think transparency, fairness and clear rules are the foundation for investment,
03:33innovation and stable cooperation. And I think Germany, as one of the leading economies in Europe, are able to
03:46also influence the relationship between Europe and China, of course.
03:53Kai, good to see you. And thanks so much for your time. Kai Schultz, partner and lawyer at Oracle Law Global in Frankfurt.
03:59Thank you very much. Thank you very much. Thank you very much.
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