STORY: German industry insider: bullish on outlook of Chinese economy
SHOOTING TIME: June 1, 2024
DATELINE: June 2, 2024
LENGTH: 00:01:56
LOCATION: Berlin
CATEGORY: POLITICS/ECONOMY

SHOTLIST:
1. various of China's industrial sector
2. SOUNDBITE (English): MICHAEL SCHUMANN, Chairman of BWA

STORYLINE:

The International Monetary Fund (IMF) has raised its forecast for China's GDP growth in 2024 to 5 percent from the April projection of 4.6 percent. 

A German industry insider shared his thoughts on the IMF's forecast revision. 

SOUNDBITE (English): MICHAEL SCHUMANN, Chairman of Federation of the Federal Association for Economic Development and Foreign Trade (BWA)
"First, to say this quite clearly, it is a very good news and a very positive news because it will be a stimulus to the world economy if the growth rate in China is positive. We have always been bullish on the outlook of the Chinese economy. Our association BWA, we have been working with China, we have been fostering and supporting Sino-German economic relations for over 21 years now. If you look at the IMF estimation and prediction, you see that 5% is a very strong forecast. A sound and positive growth rate in China is good for the world economy. I strongly believe there are still plenty of opportunities for German entrepreneurs in China, also for Chinese entrepreneurs in Germany. And the most important advice that I can give is to any entrepreneur, go and see with your own eyes and find out for yourself. If you look at the facts and the figures, the Sino-German economic relations rest on a very solid foundation. We had a survey conducted by the German Chamber of Commerce in China among the 5,000 German enterprises there, about how they perceive the future. And more than half of the companies that were asked, more than 50%, plan to expand their investment."

Xinhua News Agency correspondents reporting from Berlin.
(XHTV)