Frankfurt, Germany - November 18, 2024 China and Germany should join forces to confront urgent global economic challenges, such as fragmentation and protectionism, said a German financial expert on Monday at the 10th China Day event within the framework of the 27th Euro Finance Week in Frankfurt. The Euro Finance Week, one of Europe's largest platform for the financial industry, is held annually in November, with the China Day specifically focused on exploring cooperation opportunities in finance, economy and trade between China and Europe, Germany in particular. Sabine Mauderer, vice president of Deutsche Bundesbank, warned against protectionism, saying it hinders growth and is especially harmful during a time when the global economy is already suffering from supply chain disruptions. Mauderer pointed out that while companies in China and Germany are both business partners and competitors, it is essential for the two sides to find a way to ensure that competition remains fair and mutually beneficial. Mauderer also emphasized that low interest rates can only provide short-term support for economic recovery, while technological innovation and the promotion of digitalization are the long-term drivers of global economic growth. At Euro Finance Week, the Frankfurt Branch of Bank of China won a special award for its outstanding contributions to the financial hub Frankfurt and its excellent Renminbi services in Germany. Shotlist: Frankfurt, Germany - Nov 18, 2024: 1. Various of 10th China Day event within framework of 27th Euro Finance Week in progress; experts delivering speech, other attendees; 2. SOUNDBITE (English) Sabine Mauderer, vice president, Deutsche Bundesbank: "A fragmentation of the global economy has no wins. We all know that protectionism typically leads to a decline in growth."; 3. Various of 10th China Day event in progress, attendees; 4. Various of 27th Euro Finance Week panel discussion in progress; experts chatting about future of payment, attendees. [Restriction - No access Chinese mainland]