China Day at Euro Finance Week highlights cooperation amid global uncertainty

FRANKFURT, Nov. 17 (Xinhua) -- The 11th China Day, a regular fixture of Euro Finance Week, brought together German and Chinese experts on Monday to discuss cooperation in finance and technology as both sides face rising global economic uncertainty.

Euro Finance Week, one of Europe's largest annual industry gatherings, opened on Nov. 17 and runs through Nov. 21, with China Day focusing on opportunities for the China-Europe partnership.

Deutsche Bundesbank Vice President Sabine Mauderer said today's interconnected global challenges call for international cooperation while also creating opportunities in areas such as climate innovation and free trade. She noted China and Germany have the potential to set positive examples for addressing shared global issues.

Rudolf Scharping, former federal minister and founder and CEO of RSBK AG, warned against rising protectionism. Citing a New York Times article noting that average global tariff levels had risen back to rates last seen in 1934, he said "irresponsible policies in a few months can destroy what was developed in decades of negotiations."

Despite the continued uncertainty in the global economy, Chinese Consul General in Frankfurt Huang Yiyang said China and Germany have maintained steady financial cooperation. He said the China Day event has become an important platform for dialogue and exchange.

Executives from Chinese banks outlined recent trends in financial services. Wang Hailu, general manager of the global market department of Industrial and Commercial Bank of China (ICBC), said that since opening its branch in Frankfurt in 1999, ICBC has built a service network spanning 16 European countries.

Wang said ICBC aims to use its international presence and renminbi expertise to deepen China-Europe local currency cooperation, expand green and innovative finance, and strengthen links between capital and industry to support bilateral ties. ICBC's Frankfurt Branch was also honored on Monday with the Euro Finance International Award for its role in the city's financial center and its renminbi services.