Xi calls for objectivity on production capacity

Chinese President Xi Jinping yesterday called on both China and Germany to be vigilant against rising protectionism, and view the issue of production capacity objectively and dialectically.

Xi made the remarks when meeting with visiting German Chancellor Olaf Scholz in Beijing.

Xi noted that the industrial and supply chains of China and Germany are deeply intertwined and the markets of the two countries are highly interdependent.

The mutually beneficial cooperation between China and Germany is not a "risk", but a guarantee for the stability of bilateral relations and an opportunity for the future, Xi said.

The two countries have huge potential for win-win cooperation in both traditional fields such as machinery manufacturing and automobiles and emerging fields including green transformation and digital artificial intelligence, Xi noted.

The two sides should carry forward the distinctive characteristics of mutual benefit and win-win outcomes and achieve mutual success, Xi said, adding that China's exports of electric vehicles, lithium batteries and photovoltaic products have not only enriched global supply and alleviated global inflationary pressure, but also contributed greatly to the global response to climate change and green and low-carbon transformation.

Noting that both China and Germany depend heavily on industry and support free trade and economic globalisation, Xi said the two sides should be vigilant against rising protectionism, look at the issue of production capacity objectively and dialectically from a market-oriented and global perspective, adhere to economic principles, and foster further cooperation.