00:00China and Germany have agreed to work towards ending trade tensions and furthering commercial ties.
00:07The announcement came while Chinese Vice Premier Hurtley Fung and German Finance Minister Lars Klingbeil met in Beijing Monday.
00:16Klingbeil's visit was the first to China by a minister from Chancellor Friedrich Merz's government,
00:21which took power in Germany roughly six months ago.
00:24Ties have grown tense recently for reasons including Chinese export curbs on chips and rare earths.
00:31Those moves have caused major disruptions for German firms.
00:36Finance Minister Lars Klingbeil.
00:38In my talks today, I received assurances from the Chinese side that German and European concerns about export restrictions on rare earths
00:47and critical raw materials are being taken seriously,
00:50and that we want to find joint solutions that ensure reliable access and reliable supply chains.
00:58Klingbeil further talked on the topic of Chinese overcapacity in key sectors like steel, solar and electric mobility.
01:06He said both countries agreed it should be a shared task to lower such overcapacities and ensure stable competitive conditions.
01:13Vice Premier Hurt said Beijing was committed to working with Germany to expand joint cooperation.
01:22The two countries are bound by an important commercial relationship despite their differences,
01:29and their economic ties have become even more crucial as U.S. tariffs squeeze global markets.
01:36Chinese companies are now serious competitors for German firms in many sectors.
01:40However, data also show China bought $95 billion worth of German goods last year,
01:47with a large portion being cars,
01:50while Germany bought $107 billion of Chinese goods,
01:54mostly chips and other electronic components.
01:57Chinese companies have rather tecnologia Province,
01:57and goose as much China mites are given to nations.
02:00Luckily for the general population,
02:00by variousries who produceرج
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