(MENAFN) During his visit to China, German Chancellor Olaf Scholz voiced support for opening the European market to Chinese automakers, emphasizing the importance of fair competition. Scholz, accompanied by German chief executives including those from major carmakers Mercedes-Benz and BMW, highlighted the need for Chinese manufacturers to compete fairly with their European counterparts.
Addressing students at Tongji University in Shanghai, Scholz drew parallels with the entry of Japanese and South Korean cars into Europe, noting that fears of dominance in the market had not materialized. He emphasized that while German cars are present in Japan, there would eventually be a presence of Chinese cars in Germany and Europe.
Scholz stressed the necessity of ensuring fair competition, emphasizing the avoidance of practices such as dumping, overproduction, and copyright infringements. He emphasized the importance of maintaining a level playing field, allowing German companies to establish production facilities in China and vice versa with minimal bureaucratic hurdles.
The visit comes amid ongoing economic ties between Germany and China, with Beijing remaining Berlin's top trading partner for the eighth consecutive year in 2023. Scholz's remarks underscore the evolving dynamics of global trade and the need for balanced and equitable competition in the automotive sector.
MENAFN18042024000045015687ID1108109613
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.