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China, Germany sign $15 billion deals
Published on: 2011-06-29
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China and Germany signed deals worth more than $15 billion on Tuesday as the leaders of the world's top two exporters set a target of doubling their annual trade by 2015.

Premier Wen Jiabao and German Chancellor Angela Merkel attended the signing ceremony in Berlin.

One of the highlights of the ceremony was China's purchase of 62 A320 aircraft from Airbus SAS.

Other contracts, among the 14 deals signed, included an electric car project between German auto giant Volkswagen and its Chinese partner FAW and a factory in Foshan.

Volkswagen also signed a deal with Shanghai Automotive Industry Corporation, while Daimler and the Beijing Benz Automotive Company inked an agreement on investment in new products, engines and a research and development center.

A range of government-to-government cooperation projects covering energy, finance and the environment were also among the deals signed.

"We have signed contracts worth more than $15 billion just now," Wen said at a news conference with Merkel after the signing ceremony.

Merkel said that Germany and China want to double their annual trade to 200 billion euros ($284 billion) by 2015.

"We both take the view that what is good can become better," Merkel said.

She added that China and Germany are "ideal partners" to develop electric cars, for example, and said both sides want to increase investment.

China is prepared to buy more high-quality German goods, Wen said, but he also called for Berlin to quickly grant it formal recognition as a full market economy to help remove trade obstacles.

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