On March 26, Minister of Commerce Wang Wentao met with a delegation led by Minister-President of Bavaria Markus Söder. The two sides had exchanges on China-Germany trade and economic relations and subnational trade and economic cooperation.

Wang Wentao said that China is advancing Chinese modernization through high-quality development, new quality productive forces and a world-class business environment that is market-oriented, law-based and up to international standards. Bavarian businesses are welcome to invest in China. China and Bavaria stand to benefit from a solid foundation and huge potential for economic cooperation. It is hoped that the local government could stay committed to a rational and practical position and foster a fair and open competition environment for Chinese businesses, to make greater progress in China-Germany subnational trade and economic cooperation.

Markus Söder said that China is Bavaria’s largest trading partner. The state values its cooperation with China and opposes “de-coupling”. The state encourages its businesses to explore the Chinese market and will create an enabling environment for Chinese investors.

Representatives of Bavarian companies attending the meeting said that they are confident in China’s economic prospects, and that they will increase investment in China and share in the opportunity brought by China’s high-quality development.