2016年CRI China-Germany Consultation Held in Beijing

Premier 1 Li Keqiang and German Chancellor 2 Angela Merkel witnessed the signing of 24 cooperation agreements.

Speaking to the post-meeting press conference, Li said these agreements will help grow the Chinese and German economies.

"We agreed to deepen cooperation in trade, investment and financial sectors 4, in order to shape a new engine of economic growth between the two countries. Or, in other words, transform and upgrade the old traditional engine of growth. We will both strive to foster a more friendly environment for economic exchanges, expand bilateral 5 investment, and cross-border Renmibi transactions. We will also deepen cooperation in the manufacturing sector 3."

The discussions also addressed China's Made in 2025 strategy and Germany's 'Industrial 4.0' plan and laid out concrete steps for them to work together with other countries.

This year's consultation 6 took place amid disputes in Europe over whether to accept China's market economy status.

During the meeting, Li suggested the EU deliver on its obligations as stipulated 7 in article 15 of the protocols 8 for China's accession to the World Trade Organization and stop basing anti-dumping investigations 9 into Chinese goods on the "surrogate country system."

The article allows WTO members to adopt prices or costs of export products from a third country to substitute for Chinese products when calculating dumping margins 10 against Chinese goods.

It is allowed when a Chinese enterprise cannot prove its products meet market standards.

But the article also stipulates 11 such behavior should end in December of this year.

Merkel has said she favors, in principle, granting China market economy status.

On Monday, she reiterated 12 her stance.

"We have talked about Article 15 regarding China's EU market economy status. On behalf of the German side, I want to say that we remember our earlier promise. That promise still stands today."

The two leader also used the occasion to address mutual 13 investment and touched upon a recent, controversial bid by a Chinese appliance giant of a German robot maker 14.

It's reported that Midea tried to increase its stake in the German firm Kuka from 13.5 percent to more than 30 percent.

Addressing opposing voices, Premier Li called for a mutually open and beneficial trade relationship.

"Regarding the offer made by a Chinese company to Germany's KUKA, I believe it is a market activity between companies, and should be conducted within a legal, market-oriented and internationally accepted framework. Germany has been the biggest foreign investor 15 in China in recent years, with more than 10-thousand German companies in China. This means the Chinese market is open, and I hope all parties view China's development with a mature perspective. China's development is in step with the global economic growth. "

So far, Chinese investors 16 have made offers affecting more than 20 German companies this year.

During Merkel's time in Beijing on Monday, companies from the two sides agreed on 96 deals valued at 15 billion US dollars.

Among the contracts, China Three Gorges 17 will buy German offshore 18 wind park Meerwind for a reported 1.8 billion US dollars.

Airbus Helicopters will build an assembly line in China, while Daimler AG and its Chinese partner pledge to expand engine production.