China Bringing About New Rules of Play on Global Markets

HAMBURG, Germany, November 28, 2012 /PRNewswire/ --

- President Melsheimer increasingly views China as a competitor to European business

"Strong growth in China is good for Europe. At the same time, China benefits from a vibrant, resilient eurozone," said Fritz Horst Melsheimer, President of Hamburg Chamber of Commerce. He was speaking at the leading European-Chinese business conference "The Hamburg Summit: China meets Europe", which opened today in the Commerce Hall of Hamburg Chamber of Commerce with guests of honour Wan Gang, Chinese Minister of Science and Technology, Germany's Federal Minister of Education and Research Annette Schavan and Prof. Georgios Papastamkos, Vice President of the European Parliament. "On the other hand," continued Melsheimer, "the crisis in Europe means that China is becoming an ever stronger competitor to European business on the world stage." Pointing to China's dynamic economic development over recent years, the President of Hamburg Chamber of Commerce urged: "The rules of play are changing and Europe is going to have to respond!"

Germany's Federal Minister of Education and Research Annette Schavan emphasised the successful research and development cooperation between Germany and China: "We have purposefully built up strategic partnerships and cooperations over the years in areas such as electromobility, environmental research and the advancement of LED technology. Effective protection of intellectual property is important for collaboration in such innovative fields. And it is a good sign that we are experiencing deeper understanding of our position in this regard. The quality of German-Chinese relations is also evident in this." Cooperation in the area of education will now also be strengthened further through a German-Chinese vocational training alliance and strategic higher education partnership. "The young generation in China and Europe needs strong signals that good education and excellent research are a source of future prosperity," said Schavan.

Prof. Georgios Papastamkos addressed political relations between the EU and the People's Republic in his speech, saying, "China and the EU agree that our strategic partnership needs to be strengthened at a time when the impacts of the financial crisis on the economic, political and security landscape are becoming increasingly evident." He continued, "China's enhanced representation and new power should go hand in hand with enhanced responsibilities."

This year's "Hamburg Summit" from 28 to 30 November at the Chamber of Commerce is dealing with Sino-European trade and investment relations and their role for the global economy. More than 400 high-ranking businesspeople, politicians and scientists from 17 countries are discussing securing access to raw materials, "smart cities" and Chinese and European strategies in a multipolar world in various panel discussions.

Further up-to-date news, background information and image material for the "Hamburg Summit" can be found at http://www.hamburg-summit.com and http://www.twitter.com/HamburgSummit.

Contact: Dr. Jörn Arfs, Communications Office at Hamburg Chamber of Commerce

T: +40-36138-301, Fax: +40-36138-460, Email: joern.arfs@hk24.de, http://www.hk24.de