Germany and China Pledge to Strengthen Commercial Ties Amid Trade Tensions

China and Germany have agreed to enhance commercial cooperation and resolve trade tensions during a meeting between Vice Premier He Lifeng and Finance Minister Lars Klingbeil. The discussions emphasized tackling Chinese export restrictions and reducing overcapacities in key sectors while ensuring stable competitive conditions.

In a significant diplomatic engagement, China's Vice Premier He Lifeng and German Finance Minister Lars Klingbeil have committed to bolstering commercial relations between their nations, aiming to ease months of trade tensions.

Meeting in Beijing, Klingbeil addressed China's export restrictions and overcapacity in sectors such as steel and solar energy, which have impacted German businesses. Both parties agreed on the necessity to reduce these overcapacities and maintain a fair competitive landscape.

The bilateral discussions also focused on finding solutions for reliable access to critical raw materials and supply chain stability, highlighting the importance of solid economic collaboration amid global trade challenges.

(With inputs from agencies.)