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Real-time News
On March 23, Minister of Commerce Wang Wentao met with Bosch Group Chairman of the Board of Management, Hartung, on March 22. The two sides exchanged views on Sino-German and Sino-European economic and trade relations, as well as Bosch Groups development in China. Wang Wentao stated that he was pleased to see Bosch Groups emphasis on the Chinese market and its commitment to providing Chinese consumers with newer and smarter products and services. The 15th Five-Year Plan has been promulgated and implemented, representing a list of opportunities offered globally by Chinas high-quality development. The Chinese government supports enterprises in conducting fair and healthy competition, which will help promote innovative cooperation. He welcomed Bosch Groups active participation in Chinas consumer goods trade-in program and its efforts to develop and produce more high-quality products and technologies. Wang Wentao pointed out that China attaches great importance to Sino-European economic and trade relations and is willing to work with the EU to implement the important consensus reached by the leaders of both sides, jointly oppose protectionism and unilateralism, resolve economic and trade frictions through dialogue and consultation, properly address each others economic and trade concerns, and create a fair, open, and non-discriminatory policy environment for cooperation between enterprises of both sides.On March 23, Minister of Commerce Wang Wentao met with Volkswagen Group Chairman of the Board of Management, Robert Obermünster, on March 22. The two sides exchanged views on Volkswagens business development in China and Sino-German and Sino-European economic and trade relations. Wang Wentao stated that the current international economic and trade landscape is undergoing profound and complex changes, with increasing instability and uncertainty. Chinas formulation and implementation of the 15th Five-Year Plan outlines a clear commitment to promoting high-quality development with new productive forces, providing foreign-invested enterprises with stable expectations and broad development space in China. Over the past few decades, the Volkswagen Group has achieved great success in the Chinese market. He hoped that Volkswagen would seize the favorable opportunities presented by Chinas technological and industrial innovation to empower its expansion into the global market. Wang Wentao emphasized that current Sino-European economic and trade relations present both opportunities and challenges. Protectionism will lead to a lose-lose situation. Both sides should rationally view their competitive and cooperative relationship, conduct fair and orderly competition, and deepen mutually beneficial cooperation. He hoped that the European economic community, including Volkswagen, would play a positive role in encouraging the EU to work with China to properly handle economic and trade frictions through dialogue and consultation.At 3:30 p.m. local time, the South Korean won closed at 1,517.3 won per dollar in the onshore market, its weakest level since March 9, 2009.Hong Kong Chief Executive John Lee will travel to Hainan tomorrow (March 24) to attend the Boao Forum for Asia Annual Conference 2026. The theme of this years conference is "Shaping a Shared Future: New Circumstances, New Opportunities, New Cooperation." Lee will attend the opening ceremony and will deliver a keynote address at the "Global Free Trade Port Development Forum." Lee will return to Hong Kong on March 26. During his absence, Chief Secretary for Administration Eric Chan will serve as Acting Chief Executive.On March 23, Minister of Commerce Wang Wentao met with BASF Group Executive Chairman Kelley Kelley on March 22. The two sides exchanged views on China-EU economic and trade relations and BASF Groups operations and development in China. Wang Wentao pointed out that China attaches great importance to economic and trade cooperation with Germany and the EU. Currently, unilateralism and protectionism are impacting the international economic and trade order. China and the EU should strengthen dialogue and exchanges, firmly uphold free trade and the multilateral trading system with the WTO at its core, and enhance the certainty of the development of China-EU economic and trade relations. Wang Wentao stated that over the past 40 years of investment and development in China, BASF Group has achieved mutual success and growth with the Chinese market, realizing win-win results. During the 15th Five-Year Plan period, China will unswervingly expand high-level opening-up, leading and promoting high-quality development with technological innovation and new productive forces, creating a larger incremental market. He welcomed BASF and other foreign-invested enterprises to continue investing in China, playing a good bridging role, and helping China and Germany, and China and the EU, expand the market space for emerging industries and jointly expand the pie of economic and trade cooperation.
