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01:34
China's vast market, innovation offer opportunities for Germany: expert
STORY: China's vast market, innovation offer opportunities for Germany: expert
SHOOTING TIME: Dec. 16, 2024
DATELINE: Dec. 19, 2024
LENGTH: 0:01:34
LOCATION: FRANKFURT, Germany
CATEGORY: ECONOMY
SHOTLIST:
1. various of China
2. SOUNDBITE 1 (English): HORST LOECHEL, Professor of economics at the Frankfurt School of Finance and Management
3. various of China
4. SOUNDBITE 2 (English): HORST LOECHEL, Professor of economics at the Frankfurt School of Finance and Management
STORYLINE:
A German economist has said that China, with its vast market coupled with innovative strengths, offers significant opportunities for German companies.
SOUNDBITE 1 (English): HORST LOECHEL, Professor at Sino-German Center at Frankfurt School of Finance & Management
"China is a very strong market, a huge market, we know that. But it's not only huge, but there is also purchasing power. This is of course most important for companies to have good revenues and have good profits. And China is for that very much important. On top of that is a more recent development in the last 2 to 3 years. We have a lot of innovations in China. If you see the EV (electric vehicle) car industry, they are very much advanced. So it's also important for German companies, especially for the car industry."
Loechel believes that green transformation and digitalization are key areas of cooperation between China and Germany.
SOUNDBITE 2 (English): HORST LOECHEL, Professor of economics at the Frankfurt School of Finance and Management
"I think for the international relations and the business between Germany and China, but also for China itself, the green transformation is one of the main driving forces. This has a big advantage because everybody wants this. We all agree on the green transformation that puts it in this way. Another point you already mentioned is innovation in the field of digitalization. The digitalization, the optimization of the manufacturing industry is very much important and I think that's another important field of Germany-China cooperation."
Xinhua News Agency correspondents reporting from Frankfurt, Germany.
(XHTV)
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