Documentation Brochure 2010 2010

November 25 and 26, 2010 2010 1125 26

Hamburg Chamber of Commerce Hamburg, Germany

www.hamburg-summit.com

Sponsors
Platinum Sponsor

Table of Contents

Gold Sponsors 04 The Bridge is strong enough

16 Coping with demographic

Changes

30 Global Players and

Champions

06 China is back

18 The future Role of China

32 Strong Partners in a fair

Dialogue

08 Rebalancing the
Chinese Economy

20 Two Awards for a better

Understanding

Supporters 10 Protectionism or being

open to each other?

34 Closing Dinner

22 A Pocket full of Money

36 Views on the Hamburg 24 A Gap and a Hope

Summit

12 Change takes Time

26 A green Balance for the 14 Urbanisation as a Challenge

and an Opportunity Economy

37 Quotes

38 Speakers

28 Still a long Way to go

Imprint: HAMBURG CHAMBER OF COMMERCE International Department Jens Assmann Adolphsplatz 1 20457 Hamburg Germany Phone: +49 40 361 38-287 Fax: +49 40 361 38-494 E-Mail: jens.assmann@hk24.de www.hamburg-summit.com

Design: zwei:c Werbeagentur GmbH, Hamburg Photos: R. Magunia, K. Angerer Chinese Translation and Type Setting: Dr. Boesken & Partner GmbH, Hamburg Copy Date: May 20, 2011 All rights, changes and errors reserved.

Jens Assmann Adolphsplatz 1 20457 : +49 40 361 38 -287 : +49 40 361 38 -494 : jens.assmann@hk24.de : www.hamburg-summit.com

: zwei:c : R. Magunia, K. Angerer : Dr. Boesken & Partner GmbH 2011 05 20

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The Bridge is strong enough

Frank Horch, then President, Hamburg Chamber of Commerce, welcomes the audience Frank Horch

n the weeks before the fourth Hamburg Summit: China meets Europe, the global economic debate had been dominated by harsh words and countries blaming each other for distorting global demand. This quarrel could quickly turn into a real dogfight. This has to be avoided, we have to come back to a constructive dialogue, trying to keep the interests of all players in mind, Frank Horch, then President of the Hamburg Chamber of Commerce, said in his words of welcome. The Hamburg Summit should be a starting point for that, the president claimed. Dialogue and cooperation, not conflict and argument, should become the keywords of Sino-European trade relations. I am very confident that China will play a responsible role within the international trading system, Horch emphasised. Europe and China have a special responsibility for enhancing free trade.

Further opening up of markets will not be a painless process neither in China nor in Europe. But in the long run, it is the only way to create more wealth and well-being in China, Europe and all over the world. In the name of the Senate of the Free and Hanseatic City of Hamburg, then First Mayor Christoph Ahlhaus explained that Hamburg, with its port, has been Chinas hub for all of Western Europe since the middle of the 1970s. Hamburgs contacts with China have always had European dimensions. And this is why it was definitely the right decision to establish a Chinese-European economic conference in Hamburg, Ahlhaus said. In 2011 Shanghai and Hamburg will be celebrating a quarter of a century of successful partnership as twin cities. This partnership has developed into friendship, one marked by mutual trust and real substance, on all levels of society. The close relationship between China and

Hamburg, which has existed for centuries, will offer considerable growth potential in the future, Ahlhaus is convinced. Liu Haiyan, Senior Vice Chairman of the China Federation of Industrial Economics (CFIE), the Co-Host of the Hamburg Summit since its beginning in 2004, focused his words of welcome on the future role of Chinas domestic market and its relevance to the world. One of the most important challenges in his opinion is to achieve sustainable growth for the Chinese economy. So he and his delegation of high-ranking businesspeople looked forward to discussing these questions with people from more than 15 countries. The Hamburg Summit is an outstanding opportunity for us to effectively promote the cooperation between Europe and China that is so important for us, Liu emphasised. In this spirit, Conference Chairman Nikolaus W. Sches remembered the third Hamburg Summit in 2008 and its intention to build a bridge between China and Europe. The crash of the Lehmann Brothers Bank happened on the Monday after the last Hamburg Summit, he said and it opened a black hole that absorbed huge amounts of one of the best qualities of human beings: optimism! Influenced by negative headlines around the world, we almost did not realise that our bridge was strong enough to carry the weight. A few bricks might have fallen off, but the crisis could not shake the foundations of the bridge. Indeed, it was strong enough to carry us all the way to the fourth Hamburg Summit! Have we learned our lessons? Sches asked. The crisis has contributed to a power shift towards China, and we all have reason to welcome this development! A stronger China and a stronger cooperation between Europe and China can offer new markets and bring more opportunities for business. Our optimism is back on track, Sches said in summary. <<

Liu Haiyan, CFIE, Christoph Ahlhaus, then First Mayor of Hamburg, Nikolaus W. Sches, Conference Chairman (f.l.t.r.) CFIE Christoph Ahlhaus Nikolaus W. Sches

2011 25 Ahlhaus Frank Horch 2004 CFIE Horch 15 Nikolaus W. Sches 2008 Christoph Ahlhaus 70 Ahlhaus

Sches Sches <<

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China is back

Theo Sommer

Xu Kuangdi, CFIE, and Wei Jiafu, CATIS, give their keynote speeches CFIECATIS

hairperson Dr. Theo Sommer, Editor-atlarge at the German weekly newspaper DIE ZEIT, opened the session of keynote speeches with a thought-provoking thesis. China is no longer an emerging power, it has emerged, he asserted. He then proved his statement with evidence of the countrys impressive development in recent years: in 2007 China took over from Germany as the number one exporting nation in the world, in 2009 it ranked as the second-largest global economy and in 2025 it will overtake the United States as the biggest global economy. However, Professor Xu Kuangdi, Vice Chairman of the 10th National Committee of the Chinese Peoples Political Consultative Conference, only agreed with him in part. On the one hand, he was correct because China is back, said Xu. The economy grew by more than ten per cent again in 2010, with exports growing by more than 11 per cent. China and other Asian countries have increased their domestic demand, BRICcountries are leading the recovery in the emerging countries and the world, Xu said. These successes are the result of great effort. The government has invested the equivalent of around 400 billion euros to stimulate the economy. On the other hand,

development in Europe is not strong and not balanced and the USA has reinvigorated its economy with massive cash injections into the Federal Reserve. We are very concerned that this may damage the economic recovery, Xu warned. But the situation in China is still complex, he added, because there is a large mismatch between the countrys eastern and western regions, and between cities and rural areas. Twenty-five million people in China still live in poverty. For this reason, Xu is in no doubt: China is a developing nation. The fiscal policy will change in the next five years, Xu predicted: We have to change economic aims, improve the service for the people instead of exports and investments and make further developments in environmental protection. Because this is of mutual interest, we have to offer helping hands and build bridges, Xu concluded in his keynote speech. Captain Wei Jiafu, Chairman of the China Association of Trade in Services (CATIS) and President and CEO of COSCO Group, Chinas largest global shipping company, is also sure of this. In spite of all the difficulties, he is convinced that China and Europe can build a great future

together, because the exchange between the two partners was also stable during the financial crisis and the dependence of the two sides is increasing rapidly. Wei sees great opportunities for Europeans, because China has made considerable efforts to rebuild its economy. Thanks to this, investors in alternative energies and other activities can enjoy a high level of attention to help develop sustainable growth. A further goal, according to Wei, is to further open up the markets of service trade. In this field, the partners can cooperate at three levels: first of all in the traditional service trade, that means, for instance, tourism, logistics, and transport. Secondly in the high-end production sector, examples being R&D, design, finance, insurance or consulting. Thirdly in cultural and creative businesses, such as film, performance and exhibitions. The last one can also contribute to our mutual understanding, Wei explained. For its part, Wei said, China will open R&D centres in Europe in the future. The Chinese businessman is convinced that the service industry provides a huge market. Wei: Therefore it is important to cement institutional contacts, in order to discuss and improve trade and relations.<<

2007 2009 2025 10 Theo Sommer 2010 10 % 11 % BRIC 4000 2500

CATIS Theo Sommer, DIE ZEIT, Wei Jiafu, CATIS Theo Sommer CATIS <<

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Rebalancing the Chinese Economy

Philippe Maystadt, European Investment Bank, stresses the importance of cooperation with China Philippe Maystadt

r. Vtor Constncio, Vice-President of the European Central Bank, is also certain that the bridges between Europe and China are built on solid foundations. Relations between China and Europe are currently closer than ever before, he said in his keynote speech. He then proved his opinion with a few figures: the euro area is, alongside the United States, the main destination for Chinese exports, euro-area exports to China tripled between 2000 and 2009, and Chinese foreign direct investment in the euro area has shown consistently strong growth since 2004. Constancio: The people of Europe have now become used to the idea of some of their firms being owned by companies located in China. So, what has to be done to make the bridges even stronger? The European Economic and Monetary Union is undeniably facing many challenges, excessive public debts and deficits or intra-euro area imbalances, for instance. But the manager of the European Central Bank is confident that euro-area authorities will do

whatever is necessary to steer the single currency through its current difficulties, ensuring its future stability. And the Chinese government? I very much welcome the fact that the Chinese authorities have placed the gradual rebalancing of growth at the heart of their policy, Constncio said, because Chinas export growth cannot continue to exceed 15 per cent per year. The emergence of domestic and external imbalances calls for more urgent reforms. But this will take time and requires cooperation. Li Dongrong, Assistant Governor of the Peoples Bank of China (PBC), confirmed in his keynote speech that the Chinese government is working hard to achieve financial stability and sustainable growth of the economy. There is no doubt that further deep-cutting reforms are necessary. They are still on the agenda, and the Chinese central banks manager stressed that PBC would give full play to market-oriented measures and focus on economic institutional reforms in China.

Regarding future monetary policy, Li Dongrong mentioned four points of special importance for the central bank: Firstly, the PBC will continue to strengthen liquidity management, help money and credit to grow at a proper pace and promote economic restructuring through its credit guidance policy, he said. Secondly, it will steadily advance the market-based interest rate reform and improve the exchange rate regime of its currency. Then the PBC will look to establish and develop a macro-prudential policy framework, and, last but not least, the banker insisted: We will promote the development of financial markets. The path to sustainable growth in China and with it, the fight against climate change, is something that the European Investment Bank is looking to support with its financial commitment. We are effectively engaged in climate change projects in Europe and outside, Philippe Maystadt, President of the bank, declared. By 2012, about 25 per cent of all lending should go to climate change projects, the manager said in his keynote speech to the fourth Hamburg Summit. Above all, the bank is active in countries that are strategic partners of the European Union China, for instance. In this way, the investment bank also helped to finance the new terminal at Beijing Airport. These types of investment are particularly important, since China is the biggest producer of CO2 although not per head, Maystadt stressed. Most importantly, however, he emphasised that awareness of environmental protection is growing in China; the country has significantly reduced emissions in recent years. Maystadt: We are working on a broad range of projects to reduce greenhouse gases. And the reaction of Chinese authorities is always positive, all of which means that the work of the European Investment Bank in China is a tangible example of the EU-China partnership. <<

Li Dongrong, Peoples Bank of China, and Vtor Constncio, European Central Bank, discuss financial stability and currency issues Vtor Constncio

Constncio

Vtor

2000 2009 2004 Constncio Vtor Constncio Constncio

15 % PBC PBC PBC PBC

Philippe Maystadt Philippe Maystadt 2012 25 % Maystadt Maystadt <<

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Protectionism or being open to each other?

Alessandro Barberis, Eurochambres, Guo Guangchang, Fosun Group, Martin Brudermller, BASF SE (f.l.t.r.) Alessandro Barberis Martin Brudermller

Mao Zhenhua, China Chengxin Credit Management Co. Ltd., Jrgen Fitschen, Deutsche Bank AG, Johannes Thammer, Volkswagen Group (f.l.t.r.) Jrgen Fitschen Johannes Thammer

ne result of the worst economic crisis since 1930 is without any doubt a shifting balance of power towards Asia, and especially China. The question that British businessman David Marsh, the chair of the panel discussion Shaping the Post-Crisis World, asked his participants at the podium was How are they going to use this power? And furthermore: does this development increase the danger of trade protection against booming Chinese exports? Hopefully not, said Dr. Martin Brudermller, Member of the Board of Executive Directors, BASF SE, because the crisis has shown us how interdependent we are. The German manager is convinced that Chinabashing by politicians and media does not help at all. The EU has to learn that the competitiveness of Chinas economy is a matter of fact, that many European companies have become a reliable partner in China and China needs them. Most important is mutual understanding, not one against the other, Jrgen Fitschen, Member of the Management Board of Deutsche Bank AG, added. The more we invest, the more we relax, the more we gain, continued Brudermller. Guo Guangchang, Executive Director and Chairman of Fosun Group, a Chinese

private conglomerate, confirmed this opinion and asked the European managers to look at the opportunities in China, because the development in China is a big opportunity for global companies. The country is changing from an economy that manufactures for the world to an economy with powerful domestic consumption. Will we therefore see a boom in consumption in China over the next 20 years? That is possible, said Mao Zhenhua, Chairman of China Chengxin Credit Management Co. Ltd. Mao: As of yet we dont have an established middle class in China, and therefore consumption is weak, but within five years things are going to change. Nevertheless, it is a good option that companies have for going abroad, said Alessandro Barberis, President of Eurochambres. For Chinese and European companies, of course, Mao Zhenhua knows that Chinese companies going abroad have to overcome a lot of obstacles. Johannes Thammer, a manager at Volkswagen Group, which is very successful in China, has learned that our system does not work in China. Brudermller added: A lot of people in Europe still dont understand how people in China think and behave.

So the solution to their problems is the same for Chinese and European companies: they have to be open and learn from each other. The culture is very important, Guo explained, and Thammer added that collaboration is the best option when going abroad, but this fails if you do not look at cultural aspects. However, working together is obviously the best possible way to take the first step into a mostly unknown market like China. But is that not a possibility that is almost exclusively available to large companies in China and Europe, to COSCO, VW and BASF, for example? What about small and medium-sized businesses, the backbone of the German economy? If a businessperson needs credit of one million euros to finance a commitment in China, it is a problem. By contrast, a decision regarding a 100-million-euro loan for a global concern is taking place over lunch. Alessandro Barberis recommended that small and medium-sized businesses work in groups and, above all, take advantage of help from institutions such as chambers of commerce. That aside, Fitschen denied that money plays the decisive role: Its not the money, its not the opportunities, the one problem is finding the right people at home and in China. <<

1930

David Marsh Martin Brudermller Martin Brudermller Jrgen Fitschen Brudermller

20 Alessandro Barberis Johannes Thammer Brudermller Thammer

100 1 Alessandro Barberis Fitschen <<

David Marsh, SCCO International, chairs the panel Shaping the post-crisis world SCCO David Marsh

10

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Change takes Time

27 820 2150 Joo Aguiar Machado Axel C. Heitmann Steffen Klusmann Christof Gabriel Maetze

Joo Aguiar Machado, European Commission, Steffen Klusmann, Financial Times Deutschland Joo Aguiar Machado Steffen Klusmann

hina is one of the strongest markets in the world, so open trade is, especially for the European Union, very important. But there is an enormous mismatch on the trade balance sheet. While the 27 EU member states shipped goods with a value of almost 82 billion euros to China, the value of goods that they imported from the country was around 215 billion euros. The volume of Chinese exports isnt the problem. The difficulties actually lie in the entry requirements in place in the Chinese market for foreign distributors and investors, stated Joo Aguiar Machado, Deputy Director General for trade at the European Commission. The panel discussion China and the EU in the Global Trading System at the Hamburg Summit discussed the possibilities for restructuring export industries and diversifying markets in Europe and China. Is the danger of protectionism a real one, and what happens if a war of currencies becomes reality? We shouldnt overemphasise that the global system is working quite well and China plays its role extremely well, Dr. Axel C. Heitmann, Chairman of the German chemical company Lanxess, explained. The manager is convinced that it is the best

recipe for freedom in the world to trade more and more and to become friends. But how can this be achieved? asked moderator Steffen Klusmann, Editor-inChief of Financial Times Deutschland. And, given the mismatch, how is it possible to avoid protectionist measures and, more importantly, a devaluation competition between the large economic blocks? The partners were largely in agreement that the Chinese currency is undervalued. The problem is at what speed to bring the currency to a level that corresponds with its economic strength. Nan Cunhui, Chairman of CHINT Group, argued: China needs to do its own thing at home that will help the world. And that means We have to revalue our currency step by step, because if we do it too fast the whole economy is endangered. China is extremely different and it is slowly opening up, Christof Gabriel Maetze, Board Member of Commerzbank, added. But if the country is able to reach a level of sustainable growth, it would be of great benefit not only for China. But it takes not only time, there are also a lot of things to be done and to learn. We had only 40 years to learn things that took other countries centuries, He Dongdong,

Vice President of Sany Heavy Industries, explained. And he answered all the critics in developed countries by saying: You benefit from the low prices of Chinese goods, and yet you criticise China thats not fair. To promote and balance the trade, the Chinese managers had a proposal: sell us technology, sell us service, then we can reduce the surplus. China is a large territory with a large population, large social differences and large needs for environmental protection, they argued. If developed countries bring technology to China it will help, Nan Cunhui said. And Commerzbank manager Maetze agreed: When it comes to transfer of technology, China is the most important market. China wants to change its model of growth and move the focus to the west of the country, to the poorer provinces that are far behind the development of the eastern-coast area. There are a lot of opportunities to trade and to invest. He Dongdong looked to attract them in his own words: People in Germany and Europe, if you want to invest in China, go to the west there are 800 million people. <<

40 8 <<

He Dongdong, Sany Heavy Industries, Axel C. Heitmann, Lanxess AG, Nan Cunhui, CHINT Group, Christof Gabriel Maetze, Commerzbank AG (from top to bottom) Axel C. Heitmann Christof Gabriel Maetze

12

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Urbanisation as a Challenge and an Opportunity

70

Chen Yueming, State Grid Corporation of China, Tang Zilai, Department of Urban Planning at Tongji University, Gnter Schucher, GIGA Institute of Asian Studies (f.l.t.r.) GIGA Gnter Schucher

hina has been the worlds largest urban nation since the late 1970s, and the country has 140 cities with a population of over one million inhabitants, whereas the European Union has only 35. In the last 30 years we moved ten million people to cities every year, explained Chen Yueming, Executive Vice-President, State Grid Corporation of China, during the panel discussion Urbanisation: Challenges and Strategies for Smart Growth in Cities. And this development will continue: it is estimated that Chinese urban infrastructure will have to absorb an additional 300 to 500 million residents throughout the next 20 years. More than 900 million people live in urban regions, said Dr. Gnter Schucher, Senior Research Fellow at the GIGA Institute of Asian Studies. No question: this development requires sustainable solutions because it generates serious problems in housing and infrastructure, transportation, energy and water consumption and, last but not least, waste production. If all Chinese people want to live like Europeans, then we will need three planets. If they want to live like Americans, we will need five, predicted

Dr. Hannes Androsch, former Minister for Finance and Vice-Chancellor of Austria. So the most important question is: is smart growth possible? Thats a challenge and an opportunity! Providing smart energy is key to building a smart city, Chen argued. And her company is very active in promoting the change. It already allows clean energy to be integrated into the grid that covers about 85 per cent of Chinese consumption. The plan is for renewables to provide one quarter of all energy. China is the biggest investor in renewable energies, but no one recognises it, remarked Zhang Wei-Wei, Professor of International Relations at Geneva School of Diplomacy and Fudan University in China. Another big challenge is the traffic. How can China prevent itself from becoming a car society?, asked Gordon Orr, Chairman of McKinsey & Company in Asia. Chen told the audience that her company has already signed agreements with cities to support the use of electric cars. There is a five-year plan to build a network of charging stations in several pilot cities.

But besides this, China has to decide if it wants more public or more private transport. There is a debate as to whether we should use the European or the US model, or even our own, said Professor Tang Zilai, Head of the Department of Urban Planning at Tongji University. Cities are so crowded that the only way forward is public transport, he is convinced. And he believes people will also change their behaviour because they havent yet paid the social cost, they only pay for the car. But the necessary change in traffic and energy consumption, as well as in water use and housing depends on modern technology. So Chen Yueming asked: If you have the technology, please talk to us. Hannes Androsch responded on behalf of Europe: We can provide some answers. But its not only a question of technology and economic reform, its also a challenge for social and political reforms, Professor Tang mentioned: In the next ten to twenty years there will be more social justice in Chinese society. All that brought Gordon Orr to the conclusion: I am very optimistic that the quality of urbanisation will increase. <<

100 140 35 30 1000 85 % 20 1/4 3 -5 GIGA Gnter Schucher 9 Gordon Orr Hannes Androsch 13

Hannes Androsch 10 20 Gordon Orr <<

Hannes Androsch, former Austrian Minister for Finance and Vice-Chancellor, Zhang Wei-wei, Geneva School of Diplomacy and Fudan University in China, Gordon Orr, McKinsey & Company (f.l.t.r.) Hannes Androsch Gordon Orr

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Coping with demographic Changes

2000 60 1.3 2040 4 Christoph Keese Lilly Chung 10 28

Lilly Chung, Deloitte LLP, and Christoph Keese, Axel Springer AG, discuss demographic challenges Axel Springer Christoph Keese

n its way to a modern society, China is going to experience the same problems as other mature economies, especially in Western Europe: a rapid demographic change towards an ageing society. In 2000, we had a population of 130 million above 60 years of age, in 2040 it will be more than 400 million, Dr. Ding Lieming, Chairman of Zhejiang Beta Pharma Co. Ltd., Hangzhou, described during the panel discussion Economic Challenges of Ageing Societies. This is the result of normal demographic changes in developing countries, and especially the one-child policy in China. So moderator Christoph Keese asked, What can China learn from Germany in this respect? And what can companies do? But before discussing proposals, some panellists mentioned that what the figures show cannot be seen in the reality of business. For US companies, it is striking to see how young the Chinese managers are, Lilly Chung, Partner at Deloitte LLP, San Jose, remarked. And Ling Haifeng, Vice President for the European Region at Huawei Technologie, added: We are

a young company with young staff. The average age of our more than 100,000 employees is 28. Nevertheless, the ageing society is becoming a matter of fact in China. The panellists agreed that in spite of the strong economic growth in China, there will be pressure on the financial side due to the growth of the elderly population. Eberhard Sautter, Board Member of the insurance group HanseMerkur, explained: This has considerable effects on social security. In addition, private insurance systems have to be set up. In order to cope with the problem, China should introduce private insurance systems soon. In the health sector, Dr. Ding is expecting strong growth in China. The market for pharmaceutical products is growing by 20 per cent per year China offers a lot of opportunities to multinational companies supplying pharmaceutical products and medical equipment. The panellists confirmed the impacts of ageing societies on management styles, product development and human-resources management as well. Ling Haifeng added:

We are thinking about special products for older consumers and will enhance the quality according to their expectations. The demographic development in China offers huge opportunities for suppliers. As China changes from a place for cheap production to a place for innovation, most of the new products will come from China. It will produce cars, planes, and other sophisticated industrial products, and construct houses. But this will also increase the demand for state-of-the-art machinery from Germany. The panellists also discussed the main weaknesses of China: a lack of basic education, the knowledge gap, a lack of natural resources, and environmental problems. Asked what his advice to the Chinese government would be, Sautter proposed: Improve the capability to change. Ling Haifeng listed the following points: Learn how to solve the problem as early as possible from European governments, reduce the problems that have been created by the large exportoriented production, and start exporting intelligence instead of products. <<

HanseMerkur Eberhard Sautter 20 %

Sautter <<

Ding Lieming, Zhejiang Beta Pharma Co. Ltd., Eberhard Sautter, HanseMerkur Versicherungsgruppe, Ling Haifeng, Huawei Technologies (f.l.t.r.) HanseMerkur Eberhard Sautter

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The future Role of China

Hu Shuli, Caixin Media, and Eberhard Sandschneider, German Council on Foreign Relations, venture a look ahead Eberhard Sandschneider

longside the United States and Europe, China has an increasing influence on global policy and is needed to cooperate in tackling common challenges. But what kind of role can China play and more importantly what kind of role will it play? What does it mean to have a strategic partnership between Europe and China? Are the Chinese able to set their own rules? While the European Union is unable to find a common position, the US president lost power in the midterm elections. Foreign policy is always driven by interests, Dr. Michael Schaefer, German Ambassador to China, explained. Values, for instance, are of core interest for Europe. China and the US also have different core interests. The question is how to deal with these interests. And even if the Europeans dont speak with one voice, neither the US president nor the Chinese leaders can go their own way. The politicians have to find rules to deal with the very different interests, and these rules have to be the result of negotiations by all. We have to find international legal standards and a legal framework, Dr. Schaefer demanded.

On the other hand, Professor Eberhard Sandschneider, Otto Wolff-Director of the German Council on Foreign Relations, argued: That is not only a matter of will, but also of power. And what is the position of Europe and the US in the rule-setting agenda? Dont the Europeans always just deal with themselves? If Sandschneider is right, the question is what is power, and how is it determined? In the 20th century of course, it was military power, in the 21st it will be replaced by economic power and soft power. And economic power will be determined by the capacity to reform, while soft power determines the image that countries will have. Lilly Chung, Partner at Deloitte LLP, has no doubt: The US is still the world power and Europe is a key player in the world economy. But there is still a lot to do if China and Europe are to become powerful partners in the new multipolar world. The Europeans need to build a union that speaks with one voice, and they have only a few years to achieve that. If China is not more successful in developing a positive

image, it will have difficulties, Dr. Schaefer predicted. These conditions have to be fulfilled to get the players in the world we need, players who can make a contribution to solving global problems and players who want to be involved in this process. Coordination means that each country has to play its role, Hu Shuli, Publisher and Editor-in-Chief of Caixin Media, explained, and Chinas role is to help reform the International Monetary Fund and other international institutions. The panellists agreed that the world needs new formal institutions because the global problems have to be solved by international organisations like the IMF and United Nations. But to be effective in the 21st century they have to be reformed. Furthermore, world leaders need to be much more creative in building new decision-making processes. The world has to change in its totality of institutions, the German Ambassador claimed. And in this process, the EU can play a special role, Hu Shuli argued: Europe can be an intermediate between the US and China. <<

Eberhard Sandschneider Sandschneider 20 21 Michael Schaefer Lilly Chung Schaefer Schaefer

IMF IMF 21 Michael Schaefer <<

Lilly Chung, Deloitte LLP, and German Ambassador to China, Michael Schaefer, discuss the triangle of power Michael Schaefer

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Two Awards for a better Understanding

Nikolaus W. Sches Sches Lord Michael Heseltine 40 1972 Heseltine Michael Schaefer Schaefer 2010 2011 25 Schaefer

Christine Loh, Civic Exchange, and awardee Martin Brudermller, BASF SE, at the International Maritime Museum Hamburg CEO Martin Brudermller

n Hamburg harbours oldest maintained warehouse, which today is home to the International Maritime Museum, Conference Chairman Nikolaus W. Sches welcomed participants of the Hamburg Summit to the traditional bestowal of the ChinaEurope Friendship Award and the ChinaEurope Sustainability Award. The place is closely linked to China, Sches told the audience in his welcome speech. The former Deputy Prime Minister and First Member of State in the United Kingdom, Lord Michael Heseltine, described in his keynote speech his rich personal experience with China over the last 40 years. When he became Minister for Aerospace and Shipping in 1972, the government wanted to create links to China, and a year later he organised an exhibition in England. We opened the doors and the visitors flew in, Heseltine remembered. His impression was they all knew where to go and what to ask. At that time China already knew what it wanted and what ought to happen in the following decades. This was clear, because in his discussions with them he always heard the words enterprise, change, competition, opening up. Today he fully

appreciates what the Chinese achieved: No country has ever achieved this transformation masterminded by a central government. It is a big chance for Western countries to become involved. In this sense, the Friendship Award honours special commitments to the EUChina relationship. In his presentation of the winner, Dr. Michael Schaefer, German Ambassador to China, said China and the EU are strong partners, but there is a gap in perception that can be dangerous for the relationship. We need strong people to bring China and the EU closer together, Schaefer said. And Professor Xu Kuangdi, the winner of the 2010 Friendship Award, is just such a person, having strengthened ties between China and the EU last year. As Mayor of Shanghai, for instance, he improved the partnership between Hamburg and his town, which has its 25th anniversary in 2011. Professor Xu has been a catalyst for understanding each other, creating trust and avoiding false and semi-false perceptions, said Schaefer in praise of the award winner. Professor Xu replied by saying that the hospitality always makes me feel at home here. All his work is geared towards making the

EU-Chinese relationship a long-lasting one. Xu added: In China we have very deep feelings for the German people. He then explained how the Chinese regard the Germans: When they say yes things are fixed. But when they mention that we have problems, you have to speak with them. The second winner of the evening was Dr. Martin Brudermller, Member of the Board of Executive Directors of BASF SE, who received the Sustainability Award. In her laudation, Dr. Christine Loh, Chief Executive Officer of Civic Exchange, said: He is a chemist, but he is also very much more than that. He is the sort of manager every company would be pleased to have. In Asia he is a very famous person, Loh added, because his work is at the forefront of innovation. Brudermller stressed in his answer that Sustainability is the licence to operate for almost all companies today. And sustainability in his sense is multidimensional: it is not only a must for the economy, but also in relations with China. Brudermller declared: It is my task to contribute to sustainability in the relations between my country and my company and China. <<

Martin Brudermller Martin Brudermller Brudermller Brudermller <<

Salut Salon, a fresh and sparkling ladies quartet, brought the audience to the boil, former Deputy Prime Minister and First Member of State, U. K., Lord Michael Heseltine, Michael Schaefer, German Ambassador to China, and awardee Xu Kuangdi, CFIE (from top to bottom) Salut Salon Michael Heseltine Michael Schaefer CFIE

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A Pocket full of Money

Liu Qizhong, Shanghai Zhenhua Heavy Industry Co. Ltd., James Siano, Montblanc International James Siano

Zhu Jimin, Shougang Group, Dietmar Harting, DKE German Commission for Electrical, Electronics & Information Technologies of DIN and VDE, James C. Wei, Beiersdorf AG (f.l.t.r.) DKE DIN VDE Dietmar Harting James C. Wei

fter the export-driven growth of the Chinese economy in the last few decades, the government is trying to rebalance the economy and increase domestic demand. Currently, private consumption in China accounts for only 35 per cent of GDP, compared to more than 70 per cent in the US. Consumption is expected to increase due to the emerging new urban middle class. Our pockets are fuller and we are ready to spend the money, Zhu Jimin, Chairman of the Shougang Group, predicted on the panel about Chinas domestic market, moderated by Matthias Nass, then Deputy Editor-in-Chief, DIE ZEIT. James C. Wei, Executive Board Member for Asia at Beiersdorf, believes that We will benefit from the domestic growth in China. Even exclusive business will grow in China, James Siano, CEO of Montblanc, is convinced. In two years we will have 100 million people, the potential is much higher than in the west, he said. But why does the economy need a new balance if China is still doing well in exports? We have to meet the needs of the people, Zhu explained, and when income increases, needs also increase. China always has been an economy of shortages,

he said, and now they have to close the gap between demand and supply and serve the domestic market. That is the direction to go in, because Wei is convinced that the size of the middle class will triple within the next ten years. But the government is worried about the big differences in China. We have very rich people and we have very poor people, thats not safe, Liu Qizhong, Director of the Board of Shanghai Zhenhua Heavy Industry Co. Ltd., argued. And there is also a huge gap between developed south-eastern regions and poor western provinces. The government has made 18 regional development plans to encourage investments in the west. Some progress is visible companies have moved towards the west and many workers are also going back, Zhu said. But there are still some problems to overcome if China is to attract investments from foreign companies in the west. One is corruption, which has very high social costs. Another one is protection of intellectual property rights. The government is working harder than ever before to protect not only foreign companies, but more and more Chinese companies too, Zhu Jimin explained.

But the biggest challenge for European companies is to find highly trained people to do business in China. If you talk to engineers you have to talk Chinese, Dietmar Harting, Chairman of DKE German Commission for Electrical, Electronics & Information Technologies of DIN and VDE, accepts. His company has a long history in China, and when he went to the country I studied history and culture, too. It is a must, he believes, in order to be successful abroad. In spite of these problems, the panellists agreed that China has no alternative to developing its domestic market and enhancing its economy. Through this process it will change from the factory of the world to a competitor of companies from developed economies inside and outside the Chinese market. China will go up the value chain, James Siano explained and the nation as a whole learns very quickly. James C. Wei is looking forward to what he thinks will happen: In a few years, you will see young ladies in Shanghai who spend more than 30 per cent of their income on beauty products. <<

GDP 35 % 70 % Matthias Nass James C. Wei James Siano 1

James C. Wei 18 DKE DIN VDE Dietmar

Harting DKE James Siano James C. Wei 30 % <<

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A Gap and a Hope

n its transformation from an agriculturebased to an industrialised country, China became the worlds factory. The economy is now driven by low-end production and cheap exports into the worlds markets. The service sector did not contribute to this development it makes up only 40 per cent of the GDP, much less than in developed economies like those of the EU or US. Services in China are even smaller than in India, the other fast-growing economy in Asia. But on the other hand: What is the fastest-growing industry in China?, Professor Thomas Straubhaar asked the participants in the panel discussion Chinas Service Sector. His answer was: the service sector, which doubled in the last two decades. There is no doubt it should be the engine for growth in the future, Yao Shenhong, Executive Vice Chairman of the China Association of Trade in Services, added. Service is definitely Chinas future industry, argued engineering graduate Hamad Buamin, Director General of the Dubai Chamber of Commerce & Industry, whose country is building a service economy in preparation for the time after the oil runs out.

Jan Boje Steffens, Rickmers Holding GmbH & Cie. KG, Hamad Buamin, Dubai Chamber of Commerce & Industry, Wang Runsheng, China Foreign Trade Centre, Thomas Straubhaar, Hamburg Institute of International Economics (from top to bottom) Rickmers CEO Jan Boje Steffens Hamad Buamin Thomas Straubhaar

All the talk is about high-ranking services like banking, insurance, telecommunication, tourism and transportation. There is a gap and there is a hope, Zhang Jianwei, Executive Director and President of Sinotrans, commented. In shipping and ports China is already a major player, but behind this success there are missing elements. Still even today it is not possible for us to move goods from one port to another along the coast, Jan Boje Steffens, CEO of the German shipping company Rickmers, criticised. There are still a lot of obstacles, such as institutional restrictions and cultural barriers. Each sector has a long agenda to discuss, Yao said, and in particular education is one of the factors that prevent a rapid development of these sectors. If China wants to improve the quality of services, it has to open up, to cooperate with partners from abroad and to learn from them, all the panellists agreed. And sending people abroad to learn is also necessary. On the other hand, they confirmed that the country is making a big effort. For instance, it is trying to develop its exhibition industry. All provinces are busy developing these services, in the west, six towns are working on exhibition halls, Wang Runsheng, Deputy Director General of the China Foreign Trade Centre, said. In addition, banking has developed quite well since China joined the World Trade Organisation in 2001, Jens Ruebbert, Vice President of the European Union Chamber of Commerce in China, is convinced. It is a good sign that China wants to develop Shanghai into a financial centre by 2020, Ruebbert added. With this in mind, he warned: Dont put too much pressure on China, because other countries needed decades for the development of a high-level service industry. <<

The panellists discuss the further opening of Chinas service sector

GDP 40 % Thomas Straubhaar Hamad Buamin

Rickmers Jan Boje Steffens

Jens Ruebbert 2001 2020 <<

Zhang Jianwei, SINOTRANS Ltd., Thomas Straubhaar, Jens Ruebbert, European Union Chamber of Commerce in China, Yao Shenhong, CATIS (f.l.t.r.) Thomas Straubhaar Jens Ruebbert

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A green Balance for the Economy

Doris Fischer GDP GDP Christine Loh Wolfgang Rosenbauer Xu Lejiang, Baosteel Group Corporation, Brigitte Wolff, Management Engineers China Co. Ltd
Brigitte Wolff

Doris Fischer, German Development Institute, Wolfgang Rosenbauer, NXP Semiconductors, Christine Loh, Civic Exchange (f.l.t.r) Doris Fischer Wolfgang Rosenbauer CEO

ue to climate change and limited fossil energy resources, economies not only have to change their energy mix but also have to transform the entire industrial production to eco-friendly technologies. We only have one world, industry has learned that, one panellist argued at the beginning of the panel dicussion Green for Growth. So it is a major task, at least for industrialised countries, to reduce waste of basic materials. And there is no doubt that Our traditional growth model cannot be transferred to China, the moderator, Dr. Doris Fischer, Senior Economist at the German Development Institute, added. But how can China and other countries achieve this transformation? And how can European countries participate in this development? The challenge is to improve living standards in China, Xu Lejiang, Chairman of Baosteel Group Corporation, believes. He has a model for the development of an economy with several steps in mind: in the beginning, an economy is poor and clean, the second step means growing GDP and growing pollution. In the third step, you have a modern society that is rich but polluting.

China may be anywhere between these two positions. It is a result of industrialisation and the same process that is seen in industrialised countries, where pollution was also very high a few years ago and still is in some cases. China, just like other developed and developing nations, has to find the conditions for the final step, according to Xus argumentation: Then the economy is clean and rich, the GDP is very high, and the country imports the dirty stuff like steel and cement. How can profits be made in rebalancing the economy?, asked Dr. Christine Loh, Chief Executiv Officer of Civic Exchange. This question is very important because reducing consumption is a matter of incentives, Wolfgang Rosenbauer, Chief Representative of NXP Semiconductors, argued. It is a matter for industry and companies to force them to stop wasting resources and fossil energy, because the technical possibilities are often available but not used sufficiently and profit is the best incentive for companies all over the world. The government is also very important in this field, as the example of e-mobility in Germany proves. Germany struggles in

the field of e-mobility, and the government has a very decisive role in pushing the technology, Brigitte Wolff, Managing Director of Management Engineers China Co. Ltd, argued. She is convinced that this is one reason that the state capitalism in China makes the development easier. Profit, political goals and people are the three new Ps of high importance, Christine Loh believes. At the end of the day, people make the difference. Consumers ask for products that damage the environment. 80 per cent of the population wants a modern life, which requires resources, Chairman Xu said. But there is a necessity for change. And Doris Fischer asked: Can we prevent negative behaviour and show people what the benefits will be in 20 years? So, there is also a need for politicians to give incentives, otherwise there will not only be a problem with pollution, but also a global war over materials. We are facing a new road for industrialisation and modernisation, Xu explained, and is optimistic about its success: In the next 30 years, the balance between the economy and the environment will be found. <<

Brigitte Wolff Christine Loh 80 % Doris Fischer 20 30 <<

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Still a long Way to go

Former German chancellor Gerhard Schrder emphasises the importance of a Sino-European partnership Gerhard Schrder

hat were the major results of the fourth Hamburg Summit: China meets Europe in 2010? We wanted the Summit to live up to its name, Conference Chairman Nikolaus W. Sches said, and continued We definitely reached our aim, approximately 400 decision-makers from more than 15 countries have gathered in our Chamber of Commerce. And what did they learn from each other, about each other and most importantly in dialogue with each other? Firstly, that China has become one of the worlds most powerful nations. Then, that the EU has still not found a coherent voice and policy in dealing with China, and that green technology is the industry of the future. Also that the Chinese domestic market is as promising as ever, and, last but not least, that the EU should support the Chinese government in its endeavours to solve its most pressing issues and establish a stable society. As long as we keep on fostering dialogue, I am confident that we will always find ways to solve upcoming problems, Sches concluded. The former German Chancellor Gerhard Schrder agreed with Sches in his keynote speech. Developing countries now account

for slightly more than half of the world economy, and Asia is central to this dramatic change, he explained. Demanding more international responsibility is one side of the coin, Schrder said, but the other is putting an end to the two-class politics in the community of states. The politician demanded that These countries must be allowed to have more influence in international institutions. The existence of a stable and successful China is in Europes interest, the former Chancellor continued. So we need a strategic partnership in all areas: in politics and culture as well as in the economy and civil society. This can only happen, however, if both partners meet each other with mutual respect for their different cultures, Schrder said. Therefore, economic involvement must be intensified, and Europe must help China to solve its ecological problems. And, even more importantly, we must continue to intensify exchanges in the areas of civil society and culture. This approach, Schrder continued, will not tolerate sanctions of any kind, because: The goal of sanctions is to isolate and to discriminate. We must instead strive for cooperation, integration and change.

Hans-Ulrich Klose, then Vice-Chairman of the Committee of Foreign Relations of the German Bundestag, also emphasised the importance of China as a strategic partner. But he believes that the rise of new powers like China does not mean that others will decline. The US will remain a major power, I am quite optimistic that they will continue to succeed, Klose said. So in the end, not only the Europeans but also the US have to find ways to cooperate with China and to compromise. All together they have points of common interest with China, not only in the economy but also in different areas of security from Afghanistan to Pakistan, Iran and North Korea, for instance. We do not want chaos in these countries, and the possibility of chaos is high, Klose explained. So his advice is: The relationship with China requires investment, patience and mutual understanding. On the other hand, We have good reasons to cooperate, Klose said, because Mankind is on the verge of changing the climate dramatically. This problem can only be solved by cooperation between the big economic powers. <<

Nikolaus W. Sches 15 400 Sches Sches Hans-Ulrich Klose Klose

2010

Klose Klose <<

The audience attentively listens to the keynote speech of Hans-Ulrich Klose, then Vice-Chairman, Committee of Foreign Relations of the German Bundestag Hans-Ulrich Klose

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Global Players and Champions

amburg is well known for its port, which is not only a gateway for German and European exports, but also for imports from all parts of the world. Alongside this very important economic power with nearly 40,000 employees, the region has several global players and champions. For instance, Airbus: the Hamburg plant is the second-biggest aircraft production facility in Europe and the company is setting new standards in aeroplane technology. Successfully integrating countries worldwide including China in the production process, Airbus produces around half of the worlds jet airliners. Together with many other companies in the aviation sector, Airbus makes Hamburg a leading location for aircraft in the world, alongside Toulouse and Seattle. The visit to the production facilities in Hamburg gave an inside view of the final assembly line of the singleaisle family of A 318 to A 321 aircraft, and of the major components for the A 380, the biggest passenger aircraft in the world. Renowned throughout the world, Montblanc is a leading manufacturer of sophisticated writing instruments of the highest quality and therefore a world champion. Recent diversification into other luxury goods, such as watches, jewellery and leather have made the company a purveyor of exclusive products that meet the most challenging demands with regard to quality, design, tradition and master craftsmanship. The visit provided some insights into the fine art of crafting the famous fountain pens and introduced the companys watchmaking expertise. In the Montblanc museum, the visitors got an impression of more than 100 years
Participants visit the International Maritime Museum Hamburg (above) and the A380 production facility at Airbus A380

of company history that began in 1906 in Hamburg. Lastly, the brands longstanding commitment to arts and culture was reflected in a tour through the Cutting Edge Art Collection. Since the sea, ships and international trade have dominated the development of the town more than anything else, so its not surprising that the International Maritime Museum, founded in 2008, gives an outstanding view of the citys fascinating history. The museum presents, on nine floors of the oldest surviving storage building, the most extensive private maritime collection in the world, building an impressive bridge to todays world of international seafaring. Model ships, naval uniforms, marine paintings and reconstructions of the interior of the famous ocean liner cruise ships: the visit to the museum took the participants of the Hamburg Summit on a journey from the great explorers of the past and the art of shipbuilding to the giants of todays merchant shipping. And of course the port, with its history going back more than 800 years, is a must-see for any visitor to Hamburg. It has always encapsulated the open and maritime character of the Free and Hanseatic City of Hamburg. Today it is Germanys largest seaport and Europes third-largest container port. In addition, the port of Hamburg is one of the most important harbours in Europe regarding container traffic with China. The visit included Europes most advanced container terminal and the famous HafenCity a big inner-city development area with the soon-to-be-finished Elbphilharmonie, Hamburgs future concert hall. <<

4 1906 A 318 A 321 2008 380

800 Elbphilharmonie <<

Luxury brand Montblanc opens its doors for participants of the conference, harbour cruise at the port of Hamburg

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Strong Partners in a fair Dialogue

Frank Horch

Peter Lscher, Asia-Pacific Committee of German Business (left), signing of the Golden Book of the Hamburg Chamber of Commerce Peter Lscher

ummarising the fourth Hamburg Summit: China meets Europe, Frank Horch, then President of the Hamburg Chamber of Commerce, explained at the closing dinner: The China we see is no longer the workbench of the world, but has turned into a global player in high technology, research and development. And, he added, it has become one of the most attractive domestic markets in the world. Europe has to strive in order to defend its position as a trading and investment partner. But it will only be able to reach this aim as a strong partner and as a partner in fair dialogue. Anticipating that the Chinese economy will continue its successful rise, the Summit provides a fair platform for exchanging views on economic issues, clarifying the debate and finding common solutions, Horch said. Christoph Ahlhaus, then First Mayor of Hamburg, declared that his city is a good place to cultivate this dialogue. Hamburg has once again been able to demonstrate its ability to provide valuable stimuli to

European-Chinese relations, as we have done for years, the mayor argued. And as the European Green Capital of 2011, Hamburg will take advantage of the 25th anniversary of its relationship with Shanghai as its twin city in order to continue the environmental dialogue with China. Climate protection is at the very top of the political agenda in China, and Hamburg will intensively support the rising interest in its relationship at all levels. As one of the figureheads of the Sino-European dialogue, Professor Xu Kuangdi, Chairman of the China Federation of Industrial Economics (CFIE), participated for the second time in the Hamburg Summit. His organisation was the co-host of the summit and Frank Horch thanked him for his involvement: My deepest gratitude goes to you and to all the members of staff of CFIE, who were excellent to work with. Xu summarised his impression of events at the closing dinner: We had two very successful days improving our working relationship.

Peter Lscher, Chairman of the AsiaPacific Committee of German Business and CEO of Siemens, stressed how important this working relationship is in his speech to the participants of the closing dinner. China is a leading partner, he said, and the Chinese people are eager to make economic progress and improve their quality of life, which has resulted in the rise of many strong local champions. In the future, the competitiveness of companies as well as countries, Lscher argued, will be determined by three factors: sustainability, innovation and partnership. To enhance our innovative strength, we need strategic partnerships in research and development as well as in education, Lscher said. His vision of the European and German business community is a broad-based, strategic Sino-European partnership. He concluded: It is in the best interests of China and Europe to grow together, to grow our businesses sustainably, to grow our innovative strength and to grow together as partners. <<

Horch Christoph Ahlhaus 2011

25 CFIE Frank Horch

<<

Nikolaus W. Sches, Conference Chairman, Xu Kuangdi, CFIE, Frank Horch, then President of the Hamburg Chamber of Commerce, Christoph Ahlhaus, then First Mayor of Hamburg (f.l.t.r.) Nikolaus W. SchesCFIE Frank Horch Christoph Ahlhaus

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Closing Dinner

China meets Europe at the Closing Dinner at the prestigious Hamburg Chamber of Commerce

n his speech at the closing dinner, Ma Kai, Secretary General of the State Council of China, outlined a blueprint for the future of the nations economy. China remains a developing country, he explained, and underlined his opinion with startling figures: 150 million people are still living in poverty, and another 23 million on government subsistence. It will be a long journey, Ma reiterated, as he described the most important steps towards a better future. First of all, China has to boost the domestic demand as the foundation for further long-term, steady growth. This is the best way to create more jobs and

to improve social security. Then, China should pay more attention to transforming the economic pattern. That means, Ma explained, shutting down inefficient power and steel plants, for example and focusing on strategic objectives, such as regional development, innovation and a modern system of clean industries. Last but not least, China should put more emphasis on social provisions, which means more education, more social security and more public services, especially in the countryside. Everyone in China should benefit from this development, Ma insisted. But the need for development is also shared

with the world, the Secretary General said, because 14 million jobs in other countries depend on their export to China. A more stable, developed, dynamic and open China will open up even broader prospects for China-EU business cooperation, the Chinese politician explained. And he particularly invited SMEs to come to China: The EU-SMEs are very competitive, we should build more platforms to promote cooperation. China and Germany depend on open markets and free trade, then German Deputy Chancellor and Minister for Foreign Affairs, Dr. Guido Westerwelle said, in reply to Ma, adding This is particularly true when it comes to raw materials. So, he concluded, the two countries need each other more than ever, and benefit from intensive cooperation. Both partners are also linked more and more by direct investments, and Chinese investors are very welcome in the European Union, including in Germany. Therefore, the rule of law is very important, and China has undertaken great efforts to reform its legal system. But furthermore, the minister said, the international community needs China as an advocate of global peace. Westerwelle: As Chinas importance in the international community grows, the countrys responsibility for international security grows as well. The foreign minister finished by saying You are now a global leader, and we are proud to work together with you. The Vice-President of the European Commission and Commissioner for Competition, Joaqun Almunia, promised in his keynote speech during the closing dinner: We will work in Brussels to improve the working relationship. In order to find satisfactory solutions for all problems, the multilateral negotiations will continue. Almunia: We have to find new avenues to improve our working relationship, we need to work together in global as well as in bilateral forums. <<

1.5 2300 1400 Guido Westerwelle

Guests of honour: Ma Kai, SecretaryGeneral, State Council of the Peoples Republic of China, Guido Westerwelle, then German Deputy Chancellor and Minister for Foreign Affairs, Joaqun Almunia, VicePresident, European Commission (from top to bottom) Guido Westerwelle Joaqun Almunia

Westerwelle Joaqun Almunia Almunia

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Views on the Hamburg Summit

Quotes

International relations and economic cooperation begin and end not with governments, but with people. And I hope that the Hamburg Summit is able to build bridges between our countries.
Gerhard Schrder, Former Chancellor of the Federal Republic of Germany, November 26, 2010

Political action is far more than what governments do. Personal friendships, joint research projects and strong economic relations all contribute to mutual understanding and trust. In this light, let me express my gratitude to the organizers of this fourth Hamburg Summit.
Dr. Guido Westerwelle, then Deputy Chancellor and Minister for Foreign Affairs, Germany, November 26, 2010

Given the importance of Chinas role in the global economy, further flexibility of the renminbi would be another element conducive to more balanced growth.
Dr. Vtor Constncio, Vice-President, European Central Bank, November 25, 2010

As of yet we dont have an established middle class in China, and therefore consumption is weak, but within five years things are going to change.
Mao Zhenhua, Chairman, China Chengxin Credit Management Co. Ltd.; Director, Institute of Economic Research, Renmin University, November 25, 2010

2010 11 26

Guido Westerwelle 2010 11 26

Vtor Constncio 2010 11 25

2010 11 25

The Hamburg Summit provides a valuable basis for the dialogue between the trading partners China and Europe. This is very helpful for the development of mutual understanding and trust to commonly handle the challenges in the post-crisis world.
Zhang Jianwei, Executive Director and President, SINOTRANS Ltd., November 25, 2010

The Peoples Bank of China will continue with the reform of the RMB exchange rate, and will develop a balanced monetary frame.
Li Dongrong, Assistant Governor, Peoples Bank of China, November 25, 2010

Through the Hamburg Summit: China meets Europe 2010, Hamburg has once again been able to demonstrate our ability to provide valuable stimuli to European-Chinese relations, as we have done for years.
Christoph Ahlhaus, then First Mayor and President of the Senate of the Free and Hanseatic City of Hamburg, November 26, 2010

A lot of Chinese companies come to Hamburg to understand how to invest in Germany.

Liu Haiyan, Senior Vice Chairman, China Federation of Industrial Economics, Cuxhavener Nachrichten, November 25, 2010

2010 11 25

CFIE 2010 11 25

2010 11 25

2010
Christoph Ahlhaus2010 11 26

Dont put too much pressure on China, because other countries needed decades for the development of a high-level service industry.
Jens Ruebbert, Vice President, European Union Chamber of Commerce in China; Managing Director & Chief Administrative Officer, Deutsche Bank (China) Co., Ltd., November 26, 2010

If all Chinese people want to live like Europeans, then we will need three planets. If they want to live like Americans, we will need five.
Dr. Hannes Androsch, Former Minister for Finance and Vice-Chancellor; Expo Shanghai 2010 Commissioner General of Austria, November 25, 2010

Unlike on previous meetings, this time the search for mutual understanding took centre stage.
Nan Cunhui, Chairman, CHINT Group, Pinneberger Tageblatt, November 29, 2010

2010 11 29

China Federation of Industrial Economics is willing to work with its counterparts in Europe on such platforms as the Hamburg Summit as bridges to connect China and Europe and therefore make its own contribution to the cooperative relationship between China and Europe.
Prof. Xu Kuangdi, Vice Chairman, 10th National Committee of the Chinese Peoples Political Consultative Conference, Chairman, China Federation of Industrial Economics, Honorary Chairman, the Governing Board of the Chinese Academy of Engineering, November 25, 2010

Jens Ruebbert 2010 11 26

2010 Hannes Androsch 2010 11 25

This Hamburg Summit is a very impressive event and provides a high network of connections in China and Europe. I am very pleased to join the next one.
Ling Haifeng, Vice President European Region, Huawei Technologies, November 26, 2010

No country has ever achieved this transformation masterminded by a central government. It is a big chance for Western countries to become involved.
Lord Heseltine CH, Former Deputy Prime Minster and First Member of State, U.K., November 25, 2010

China is the biggest investor in renewable energies, but no one recognises it.
Prof. Zhang Wei-wei, Professor of International Relations at the Geneva School of Diplomacy, Switzerland, and Fudan University, November 25, 2010

2010 11 26

10 2010 11 25

Heseltine CH 2010 11 25

2010 11 25

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Speakers

Partners

oo Aguiar Machado, Deputy Director General, DG Trade, J European Commission, Belgium hristoph Ahlhaus, then First Mayor and President of the Senate of the C Free and Hanseatic City of Hamburg, Germany oaqun Almunia, Vice-President, European Commission, Commissioner J for Competition, Belgium r. Hannes Androsch, Former Minister for Finance and Vice-Chancellor; D Expo Shanghai 2010 Commissioner General of Austria lessandro Barberis, President, EUROCHAMBRES, Belgium A r. Martin Brudermller, Member of the Board of Executive Directors, D BASF SE, Hong Kong ng. Hamad Buamim, Director General, Dubai Chamber of Commerce E & Industry, UAE hen Yueming, Executive Vice President, State Grid Corporation of China, C P.R. China illy Chung, Partner, Strategic Clients, Deloitte LLP, U.S.A. L r. Vtor Constncio, Vice-President, European Central Bank, Germany D r. Ding Lieming, Chairman, Zhejiang BetaPharma Co., Ltd., P.R. China D r. Doris Fischer, Senior Economist, German Development Institute/ D Deutsches Institut fr Entwicklungspolitik (DIE), Germany rgen Fitschen, Member of the Management Board, Deutsche Bank AG; J Chairman, OAV - German Asia-Pacific Business Association, Germany uo Guangchang, Executive Director & Chairman of the Board, G Fosun Group, Member of the Presidium, China Federation of Industrial Economics, P.R. China ietmar Harting, Chairman, DKE German Commission for Electrical, D Electronics & Information Technologies of DIN and VDE, Germany e Dongdong, Vice President, Sany Heavy Industries Co., Ltd.; H Chairman, Sany Germany (Europe) Company, P.R. China r. Axel C. Heitmann, Chairman of the Board of Management, D LANXESS AG, Germany he Rt. Hon the Lord Heseltine CH, Former Deputy Prime Minster and First T Member of State; Founder and Chairman, Haymarket Group Limited, U.K. rank Horch, then President, Hamburg Chamber of Commerce, Germany F u Shuli, Publisher and Editor-in-Chief, Caixin Media; Dean, School of H Communication and Design, Sun Yat-sen University, P.R. China hristoph Keese, President Public Affairs, Axel Springer AG, Germany C ans-Ulrich Klose, then Vice-Chairman, Committee on Foreign Relations of the H German Bundestag; Coordinator of German-American Cooperation, Germany teffen Klusmann, Editor-in-Chief, Financial Times Deutschland, Germany S i Dongrong, Assistant Governor, Peoples Bank of China, P.R. China L ing Haifeng, Vice President European Region, Huawei Technologies, L Germany iu Haiyan, Senior Vice Chairman, China Federation of Industrial L Economics; Vice Chairman, China Association for Quality, P.R. China iu Qizhong, Director of the Board and Vice President, Shanghai Zhenhua L Heavy Industry Co. Ltd. (ZPMC), P.R. China r. Christine Loh, Chief Executive Officer, Civic Exchange, Hong Kong D eter Lscher, Chairman, Asia-Pacific Committee of German Business; P President and Chief Executive Officer, Siemens AG, Germany a Kai, Secretary-General, State Council of the Peoples Republic of China M hristof Gabriel Maetze, Divisional Board Member, Commerzbank AG, C Germany ao Zhenhua, Chairman, China Chengxin Credit Management Co. Ltd.; M Director, Institute of Economic Research, Renmin University, P.R. China

avid Marsh, Chairman, SCCO International, U.K. D hilippe Maystadt, President, European Investment Bank, Luxembourg P an Cunhui, Chairman, CHINT Group; Member of the Presidium, China N Federation of Industrial Economics, P.R. China atthias Nass, then Deputy Editor-in-Chief, DIE ZEIT, Germany M ordon Orr, Asia Chairman, McKinsey & Company, P.R. China G ens Ruebbert, Vice President, European Union Chamber of Commerce J in China; Managing Director & Chief Administrative Officer, Deutsche Bank (China) Co., Ltd., P.R. China rof. Dr. Eberhard Sandschneider, Otto Wolff-Director, Research Institute, P German Council on Foreign Relations, Germany berhard Sautter, Member of the Board, HanseMerkur Versicherung AG, E Germany r. Michael Schaefer, Ambassador of the Federal Republic of Germany D to the Peoples Republic of China erhard Schrder, Former Chancellor of the Federal Republic of Germany G r. Gnter Schucher, Senior Research Fellow, GIGA Institute of Asian D Studies, Germany ikolaus W. Sches, Conference Chairman; Former President, N Hamburg Chamber of Commerce; Shipowner, Reederei F. Laeisz, Germany ames Siano, President & CEO - Asia Pacific, Member of the Executive Board, J Montblanc International, Hong Kong r. Theo Sommer, Editor-at-large, DIE ZEIT, Germany D an Boje Steffens, CEO and Managing Partner, Rickmers Holding GmbH & J Cie. KG; Managing Director, Rickmers-Linie GmbH & Cie. KG, Germany rof. Dr. Thomas Straubhaar, Director, Hamburg Institute of International P Economics (HWWI); Professor of Economics, University of Hamburg, Germany uediger Stroh, Executive Vice President & General Manager, Business Unit R Identification, CEO, NXP Semiconductors Germany GmbH, Germany rof. Tang Zilai, Chief Planner, Urban Best Practice Area, Shanghai Expo P 2010; Professor and Head, Department of Urban Planning, Tongji University, P.R. China ohannes Thammer, Head of Group Sales Strategy and Projects, J Volkswagen Group, Germany ang Runsheng, Deputy Director General, China Foreign Trade Centre; W President, China Foreign Trade Centre (Group), P.R. China ames C. Wei, Executive Board Member for Asia, Beiersdorf AG, Germany J apt. Wei Jiafu, Chairman, CATIS; President and Chief Executive Officer, C COSCO Group, P.R. China r. Guido Westerwelle, then Deputy Chancellor and Minister of Foreign D Affairs of the Federal Republic of Germany rigitte Wolff, Managing Director, Management Engineers China Co. Ltd.; B Board Member, German Chamber of Commerce Shanghai, P.R. China rof. Xu Kuangdi, Vice Chairman, 10th National Committee of the Chinese P Peoples Political Consultative Conference; Chairman, China Federation of Industrial Economics; Honorary Chairman, Governing Board of the Chinese Academy of Engineering, P.R. China u Lejiang, Chairman, Baosteel Group Corporation, P.R. China X ao Shenhong, Executive Vice Chairman and Secretary General, China Y Association of Trade in Services (CATIS) hang Jianwei, Executive Director & President, SINOTRANS Ltd., P.R. China Z rof. Zhang Wei-wei, Professor of International Relations, Geneva School P of Diplomacy, Switzerland, and Fudan University, P.R. China hu Jimin, Chairman, Shougang Group, Member of the Presidium, China Z Federation of Industrial Economics, P.R. China

Co-Host

www.cfie.org.cn

Summit Partners

www.china.ahk.de

www.catis.org.cn

www.eurochambres.eu

www.euccc.com.cn

www.oav.de

Academic Partners

www.giga-hamburg.de

www.ifw-kiel.de

Media Partners

www.bfchina.de

www.china-contact.cc

www.ftd.de

www.germanycontact.com

www.pcne.tv

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The Hamburg Summit: China meets Europe Documentation Brochure 2010

The Hamburg Summit: China meets Europe Documentation Brochure 2010 39