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D O C U M E N TAT I O N 2 0 0 8

THE HAMBURG SUMMIT


China meets Europe
10 to 12 September 2008 Hamburg Chamber of Commerce

www.hamburg-summit.com

Sponsors and Partners


Initiator & Organiser

Table of Contents

Exclusive Sponsor

Gold Sponsors

04
Supporters

Welcome Address by President Frank Horch

18

Opening up, but Slowly and Carefully

32

Looking Forward to a Period of Innovations

06 08

20
Partners, not Rivals

No Alternative to Integration

34

Europeans should be Visible and Present

22
A Constructive Working Relationship

Climate Change is a Wake-up Call

36

Two Awards for a Better Understanding

10

24
On the Way to becoming a World Power

The Driving Force of Innovation

38

Ways to solve Upcoming Problems

12

26
Large Differences in Markets and Policies

Cooperation is on the Agenda

40 41 43

Views on the Hamburg Summit

14
Partners Co-Host Summit Partners Academic Partners

28
A Shift towards Domestic Consumption

A Strategy for Energy and Raw Materials

Quotes

16
Media Partners Official Media Partners Supporting Media Partner

30
Not the Deficit itself, but the Level

Hamburg Summit Speakers

Huge Bottlenecks in Domestic Transport

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

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Chinese Translation and Type Setting: Dr. Boesken & Partner GmbH, Hamburg Circulation: 2.000 copies

Welcome Address by President Frank Horch

Frank Horch, President, Hamburg Chamber of Commerce, opens the conference

eal optimists are enviable people they enter a restaurant and order oysters hoping to find a pearl inside that helps to pay the bill. I think it would be a good idea to adopt this refreshing kind of optimism for the third Hamburg Summit: China meets Europe held at the Hamburg Chamber of Commerce. The programme was full of pearls with each new topic we opened, beautiful pearls were to be discovered!

When the former President of our Chamber, Dr. Karl-Joachim Dreyer, officially opened the first Hamburg Summit in 2004, he said: What we need in business as well as politics are good marriages that are long lasting and dependable. People say that the most successful marriages are those in which the couple never stops talking. In November 2004 we could not have imagined how important a constant dialogue between China and Europe

would be just four years later. Especially since 2007 the couple has had to face difficult conditions. But separation would never help to return to a state of harmony, so we are more than happy that we arranged the third Hamburg Summit: China meets Europe against the odds. Our constant dialogue with the economic and political leaders in China has been rewarded: The Hamburg Summit was the reason for the first visit of a high-ranking Chinese politician in Europe following the political disagreement in spring 2008. And this will also play a part in reinstating harmony, which goes beyond all of the expectations we had when planning the Hamburg Summit in 2004 that carried the motto The power of partnership. The China we see today is no longer the workbench of the world, it has emerged as a global player of high technology. The EU needs to accept and treat the Peoples Republic as an equal partner. China, on the other hand, needs to continue implementing WTO rules and regulations. There is still some ground to cover in this respect. To generate fair dialogue, the Hamburg Chamber of Commerce initiated The Hamburg Summit: China meets Europe. I am very confident that we will strengthen the dialogue with the aim of building new bridges and reviving existing links. The stronger a bridge is built, the more it can carry. Let us all contribute in building a bridge between China and Europe a bridge that can carry common challenges such as climate change and environmental problems! <<

Deputy Prime Minister Zhang Dejiang (left) is greeted by President Horch

Deputy Chancellor Steinmeier (middle) in a relaxed talk with the Conference Chairmen

Partners, not Rivals

Deputy Chancellor Steinmeier (left) and Deputy Prime Minister Zhang Dejiang

he visit by Chinas Deputy Prime Minister, Zhang Dejiang, was a clear sign that troubled political relations between Germany and China are slowly returning to normal. Only by joining hands can we resolve the major problems, the high-ranking politician emphasised during his speech at the Hamburg Summit. 2008 has proven to be a year with major challenges for China. The earthquake in Sichuan province in May was the worst natural catastrophe since the founding of the Peoples Republic, said Zhang. Life in the area has since returned to normal, and reconstruction work is already in progress. Zhang thanked Germany and Europe for the valuable aid provided. 2008 was also the year in which the Olympic and Paralympic Games were held in Beijing. The Games were extraordinary, and a huge success, said Zhang, as they not only offered an opportunity to strengthen friendships, they also

proved that China has made the move from a Communist planned economy to a market economy in the almost 60 years since the founding of the state. In Zhangs opinion, economic development has led to major progress for Chinas population, although it still remains a developing country. Rapid economic growth is causing major concerns in terms of inefficient capacities on the one hand and serious environmental issues on the other. However, Zhand is convinced that China should be a moderately prosperous society by 2020, as we are confident that Chinas economy will continue to grow. But China cannot develop without the rest of the world and vice versa, he pointed out, before adding that China is your partner, not your rival. This was directed in particular at the countrys partnership with Europe, which has developed well. After all, the EU is Chinas main trade partner and China

the EUs second-largest trade partner. Whether energy efficiency, environmental protection or infrastructure, I am sure that cooperation in these fields will create great opportunities for your companies, Zhang promised. Germanys Minister for Foreign Affairs, Dr. Frank-Walter Steinmeier, linked the call for cooperation with a daring vision: We need a 21st century Silk Road. As early as 5,000 years ago, this link between China and Western Europe not only generated affluence through international trade; its golden age was also one of the most liberal and peaceful periods that China has experienced. Todays Silk Roads sea, aviation and rail transport similarly not only help to promote affluence. They also bring people together, allow contacts to be made, and facilitate the exchange of information. Steinmeier said: We need to use this, not just as a driving force for the economy, but as an impulse to modernise and open up our societies. We live in an age of major changes, Steinmeier emphasised and pointed out that new political and economic power centres are emerging, primarily in China. The world is looking for a new constellation, and without dialogue with emerging economies we will not attain this new organisation, the German Minister for Foreign Affairs explained to the audience at the Hamburg Summit. There is nowhere else more awareness of this than in the city of Hamburg, Steinmeier said, as a port is a gateway to the world. The new centurys flow of goods and ideas will shape our perception of the world. And when I speak of modernisation and openness, Steinmeier said, then I also mean openness for more global responsibility. <<

Handshake between Germany and China after the signing of the Golden Book

Frank-Walter Steinmeier gives his opening speech at the Hamburg Chamber of Commerce

A Constructive Working Relationship

amburgs First Mayor, Ole von Beust, is convinced that the eyes of the world are now focussed even more on China since the Olympic Games were held in Beijing. Many people in Hamburg are learning Chinese and its writing system, are enjoying Chinese cuisine or are being treated according to the principles of Chinese medicine, he reported during his welcoming speech at the Hamburg Summit: China meets Europe. People want to know about everyday life in China they are following its governmental policies and are posing critical questions as to human rights or freedom of speech. This increased interest is not particularly surprising in Hamburg, as it has always maintained strong relations with China. Hamburg is proud of its links to China, that go back centuries and proud that this relationship is being continued and developed in the 21st century as well, said von Beust. The city has a lot to offer when it comes to environmental protection, the main focus of discussion at the third Hamburg Summit. In addition to key sectors such as aviation and the maritime industry, it is also the home of leading environmental technology and renewable energy producers. Environmental protection and energy supply are two of the main challenges that China faces in its development towards becoming a leading economic nation. For this reason von Beust hopes that understanding of China in Europe will continue to grow and vice versa, of course. Lszl Kovcs, the Hungarian EUCommissioner for Taxation and Customs Union, has visited China on numerous

occasions. He considers this a necessity, as the European Union and China are both major players in rapidly-growing international commerce. For this reason both parties need to assume responsibility for the international community. Kovcs: Consequently there is an imperious need to build and sustain a constructive working relationship in order to secure energy supplies, to slow down the global warming to settle or prevent local conflicts, and to combat international terrorism. The EU-Commissioner thanked the government in Beijing for its efforts in trying to solve major economic, ecological and social problems. He stressed that the international community needs China as a responsible and therefore respected member, especially within the scope of fast-growing trade relations. The intense competitive pressure on parts of the European economy requires that we continue to persuade China to trade fairly and open its markets so that our companies can compete on a level playing field, Kovcs said. In order to achieve this, a number of reforms are required - from investment conditions to the development of financial markets or the protection of Intellectual Property Rights. The Commissioner explained that counterfeiting is a complex issue, a legal offence as well as a financial and economic problem. As major trade partners it is in the interest of both the EU and China to facilitate legitimate trade whilst ensuring the safety and security of citizens, Kovcs claimed. But, he added, we are aware that China cannot be treated like a schoolmaster treats his students. It can only be treated as a partner on the basis

of shared interests and mutual respect. The Hamburg Summit is a vital platform for fostering such a partnership, added Xie Qihua, Executive Chairwoman of the China Federation of Industrial Economics and former Chairwoman of Baosteel. It is our sincere hope that with the cooperation between the Chinese and German industrial and commercial organisations we will be able to generate substantial profits for the people of our two countries, Xie said. <<

EU-Commissioner Lszl Kovcs emphasises the spirit of partnership Hamburgs First Mayor Ole von Beust

Xie Qihua, CFIE, greets the audience

On the Way to becoming a World Power

Former German Chancellor Helmut Schmidt is one of the Hamburg Summits Honorary Chairmen

Jiang Yiren, CFIE, gives an overview about the Sino-European relations

Anne Marie Idrac, French Minister of State to the Minister for the Economy

ormer German Chancellor Helmut Schmidt was nearly 90 years old when he addressed the participants of the Hamburg Summit and added a few personal memories. His account goes back to the 1960s when he read about the cultural revolution in China. At that time he only had a rather vague idea of Chinas four or five thousand years of history. But he began to read about China and, because he could not visit the country as German defence minister, he looked at China when he was in Bangkok, Seoul, Sydney or Wellington. When I returned to Germany I understood that China was on its way to becoming a world power again as well a vital trading and shipping partner for us, Schmidt continued. Most Europeans and North Americans have little knowledge of China and its history, Schmidt said. He believes that even the last couple of centuries are largely grey areas for political leaders and business managers. They have heard about the Great Wall of China or Confucius, but they are not aware of the

fact that China was superior to Europe in the sciences and all civilisational technologies during the European Middle Ages. This absence of knowledge is one of several reasons for the lack of respect for China among Western cultures, the former German chancellor pointed out. The French Minister of State to the Minister for the Economy, Anne Marie Idrac, also stressed the need for mutual trust. Partnership is the key word for our relationship, she said and added mutual fairness should be the basis. The economic and social aspects of Chinas future are of huge importance for all of mankind, Idrac and Schmidt agreed. The enormous economic success, initiated by Deng Xiaopings pragmatic reforms, has turned China into a decisive factor for the world economy. And the country is not only becoming an industrial heavyweight, but it is also on its way to becoming a major financial power. What conclusion can we draw from all of these facts?, Schmidt asked before providing an immediate answer: We have to urge our governments to main-

tain peace, solid and healthy global markets, and therefore mutual cooperation. This is a move supported by Jiang Yiren, Chairman of the Shanghai Federation of Industrial Economics and member of the Standing Committee. We need to continue to develop our cooperation in a balanced manner, he said. Trade relations between the European Union and China have developed well in the last few years, and in 2004 the EU overtook the USA as Chinas main trade partner. Conversely, China is the EUs second-largest partner, with the EU being Chinas fourth-largest investor, Jiang added. Jiangs home town of Shanghai is a good example of positive development. It is the main location for investors from the EU and home to various European companies head offices. And Jiang leaves no doubt that they are more than welcome there: We see healthy development between Europe and China, and we would be more than happy for you to invest in China, especially in Shanghai, he told the audience. <<

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Large Differences in Markets and Policies

Michel Rocard, former Prime Minister of France

Lucas D. Papademos, European Central Bank

hinas awakening after a century of agony is one of the main political events of the last few decades, believes Michel Rocard, former French Prime Minister and current member of the European Parliament. We have to thank Deng Xiaoping for awakening the country, he said. Rocard first visited Guandong province in 1992 where as many people live as in the whole of France, and he admires what China has done since first visiting the area. It is a major accomplishment to make so much progress in only twenty or thirty years, Rocard said. To secure this progress in the future, we need to listen to, and understand, one another, he added, and also expressed his approval of the Hamburg Summit in offering precisely the right platform to enable this exchange. With several forums in both China and Europe and a number of workshops, the European Parliament is making efforts to encourage mutual understanding. Professor Lucas Papademos, VicePresident of the European Central Bank, emphasised the importance of the

continual interchange of ideas during his keynote speech at the Hamburg Summit. Increasing trade with China has clearly brought major benefits for Europe, he explained, and asked at the same time: So why do we Europeans occasionally express concern about the expanding trade and, more generally, the economic ties between the EU and China? In his opinion there are certain asymmetries characterising trade relations between the EU and China. The value of EU imports from China amounted to 231 billion euros in 2007, with the EUs exports to China reaching almost 72 billion euros, i.e. less than one third of the import value. Why does Europe not export more products like high value-added goods, pharmaceuticals or machinery where it has a comparative advantage over China? the banker from Greece asked. The reasons for this include, for instance, non-tariff barriers in China or the bilateral exchange rate. More generally, there are large differences in how the markets and economic and monetary policies work in both areas.

So there are different tasks to be tackled while the world economy is navigating choppy seas - Europe has to focus on labour and product market reforms to enhance its growth potential. China, on the other hand, needs to reform its financial markets and banking sector in order to improve monetary control. This is the path towards sustainable economic growth and in order to mutually benefit from trade - not only for China and the EU but also for other regions like the Middle East. H.E. Sheikha Lubna Al Qasimi, Minister of Foreign Trade in the United Arab Emirates, announced to the audience in Hamburg: We aim to be an important link between East and West. After all, the EU is one of the worlds largest industrialised regions, and China is home to the 500 largest companies in the world. Trade with the Emirates is also currently experiencing dynamic growth, as Chinas energy requirements has made oil a key trade product, while the Emirates have emerged as the largest market for Chinese products in the Middle East. <<

H.E. Sheikha Lubna Al Qasimi, UAE Minister of Foreign Trade, introduces the UAE as an important link between the EU and China

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A Shift towards Domestic Consumption

Ronnie C. Chan (right), Hang Lung Group, analyses Chinas potential for further growth

onnie C. Chan, Chairman of the Hang Lung Group, a leading Hong Kong property developer, provided a very casual answer to the question of whether Chinas growth is unlimited by saying Ive got no idea, but it will be all right over the next few years. I am investing, and the return on investment is really good. In the process, it is vital that the population tales a long term view and provides for the next generation, following the precepts of Confucius. The businessman also sees two major challenges for the country, however. Oil and raw material supplies will becoming increasingly difficult to obtain, due to the rapid growth, spiralling prices and increased international competition, which could in turn lead to serious international conflicts. China will also face not only ecological, but also huge social problems, largely due to millions of people migrating from within the country to the southeastern coastal regions. Chan added, If we solve the social problems, then the

economy will continue to see strong growth. The background for this forecast is fairly simple: Chinas economy has benefited in the last few years from strong exports, and, generally speaking, from globalisation. But further strong growth will endanger jobs in the EU, Michel Rocard, former Prime Minister of France and member of the European Parliament, warned. Rocard explained that the capacity to absorb Chinese exports in the EU will not correlate with the Chinese possibilities to export. For this reason it is vital that domestic demand in China is ramped up. Chan is very optimistic in this regard, as consumption in China will grow by 20 to 30 per cent annually, he predicted. Most of the panellists agreed with him, including Dr. Ulrich Weber, Manager at Airbus: We are quite confident that in the long term there is a huge market for aircraft. Increasing incomes means that more and more people will be using aircraft for business or private trips.

Dr. Richard Hausmann, President and CEO of Siemens in China and Chairman of the German Chamber of Commerce in China, foresees growing import demand, due to the major infrastructure problems. China was once seen as a source of cheap labour. But most products sold by Siemens in China originate from German and European plants. One requirement for increasing domestic consumption and imports is a more flexible monetary policy, permitting further upvaluation of the renminbi. China has to manage the currency issue and the government needs to increase its flexibility, David Tak-kei Sun, Managing Partner at the consulting firm Ernst & Young in Hong Kong, stressed. Businesses offering products to meet local demand should also receive support from the local government. The panel agreed with the conclusion provided by moderator Steffen Klusmann, Editor-in-Chief at Financial Times Deutschland: Chinas long-term prospects remain quite solid, but there will be a shift towards domestic consumption. <<

David Tak-kei Sun, Ernst & Young Far East Area, Richard Hausmann, Siemens Ltd. (China), Michel Rocard, Ulrich Weber, Airbus (f.l.t.r)

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Not the Deficit itself, but the Level

Anne Marie Idrac, John Thornhill, Financial Times, Daniel Christman, US Chamber of Commerce (f.l.t.r)

Jack C.K. So, HKTDC, David OSullivan, European Commission, Jrg Wuttke, BASF SE (f.l.t.r.)

hile Sino-European trade volumes continue to grow at double-digit rates, Europe continues to run an enormous trade deficit which may lead to new trade barriers appearing on both sides. In 2007 the EUs trade deficit with China was 160 billion euros, accounting for 86 per cent of the EUs total trade deficit. The EU exports more to Switzerland, with only 7.5 million people, than it does to China, one of the participants at the Hamburg Summit told the auditorium. And there is a tendency to move towards more protection, John Thornhill, European Editor of Financial Times, noted. This is why the question rises: Is there a recipe for mutually beneficial EUChina trade relations? Of course there are a lot of problems when trading with China, said David OSullivan, Director General of the Directorate General Trade of the European Commission. But there are also problems when trading with the USA, he noted, and: It is not surprising when there are trading problems.. Nevertheless, he still agreed with Anne

Marie Idrac, Minister of State to the Minister for the Economy, when she said that It is not the deficit itself, but the level. It must be a situation that we can explain, understand and accept. And Lt. General Daniel Christman, Senior Vice President of the US Chamber of Commerce, pointed out that, above and beyond the economic aspects, such trade surpluses also create political instability. Jack C.K. So, Chairman of Hong Kong Trade Development Council, tried to explain the unbalanced situation. Chinese exports contain a lot of elements from other countries, So pointed out and added that many European countries have introduced China to their production chain. And Chinas markets have opened up to become the worlds largest consumer market after the USA, with Hong Kong as the shop window for products from Europe, where every Chinese person can come and shop. Apart from such clarification attempts, all of the panel participants agreed that the only way of solving the problems in

the long term is through close cooperation. We believe that China needs to be integrated within the international process, Lt. General Christman emphasised. The WTO is the organisation within which the new world order can be forged. Its not about achieving perfect results, its about demonstrating that compromises can be made. OSullivan said: We dont need a perfect balance, but an indication that the Chinese recognize the problem and intend to tackle it. But Jrg Wuttke, Head of BASF in China and President of the European Union Chamber of Commerce in China, remains sceptical - China has failed to engage in the Doha round and is yet to communicate its aims, he said. Europeans and Americans both complained about the lack of protection of Intellectual Property Rights. There is certainly a willingness and there has also been progress in the right direction, Wuttke declared, but we have not seen movement for a long time. He also added that We need to make progress in this area. <<

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Opening up, but Slowly and Carefully

Norbert Walter, Deutsche Bank AG, and Ronnie C. Chan discuss the situation of Chinas financial market (f.l.t.r)

hina has made enormous progress in terms of liberalising its banking system. A short retrospect may help to illustrate this: Until 1996, China had no central bank; the Peoples Bank of China was a commercial bank. All financial institutions were packed with bad loans, and Chinas banks were way behind. Now the four biggest banks in the world are Chinese, which are investing abroad and, above all, Chinese consolidated funds are investing increasingly in Europe. But the question is: How stable is the system? How strongly is it affected by the international financial crisis? Being big does not necessarily mean being strong and healthy, said Ronnie C. Chan, Chairman of the Hang Lung Group, a real-estate developer in Hong Kong. They are really behind in terms of risk management and technology. And Professor Norbert Walter, Chief Economist at Deutsche Bank AG, knows the reason why: If you are only interested in liquid money and state bonds for years on end, it takes more than a few months to learn handling risks. There has been no doubt a lot of improvement among Chinese banks,

particularly in handling bad loans. If you look at the numbers it looks quite good, explained Professor Xie Danyang, economist at the Hong Kong University of Science and Technology. But he thinks that one has to look at the numbers with some doubt as they have always been dressed up. However, politicians are no longer in a position to push for loans that are subsequently dishonoured. Professor Xie added that by and large we are moving in the right direction, commercial banks are responsible for themselves. Nevertheless Peter Rieck, Deputy Chief Executive Officer at HSH Nordbank AG, pointed out that it is not a liberal market place, we need to wait several years for that to happen, which Ronnie Chan considers perfectly normal: We keep getting criticised due to the influence of the state, but look at Fanny Mae and Freddy Mac! The major mortgage financers were both nationalised by the US government during the credit crisis. And Professor Norbert Walter provided a response to the question asked by moderator Matthias Nass, Deputy Editor-inChief of the German weekly Die Zeit, as

to whether a Chinese bank could take over a German one: Youd have to ask German Chancellor Angela Merkel. Chan also added that there are also lots of state-run businesses in Singapore that are 98 per cent market-driven. But they have obligations vis--vis society this is also the case in China. Since the international financial crisis erupted, Chinas financial sector has become part of its national security, Chan said. During the Asia crisis in the mid 1990s, Chinas government did an excellent job and succeeded in stabilising the region. This is again the case, as many Asian banks have thus had nothing to do with the US sub-prime market. The reason for this is quite simple, Chan said, they are doing good business in the domestic market and do not need such alternatives. The Asian members of the Banking and financial activities between the EU and China panel are convinced that Chinese banks are healthy and able to maintain their course. Chan added that China knows that it needs to open up, but it needs to do so slowly and carefully. <<

Peter Rieck, HSH Nordbank AG, Xie Danyang, The Hong Kong University of Science and Technology (f.l.t.r.)

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No Alternative to Integration

Michael Knig, Bayer (China) Ltd., Leonard Cheng, The Hong Kong University of Science and Technology, Michael Schaefer, German Ambassador to China (f.l.t.r.)

David Shambaugh, The George Washington University, Jack C.K. So, Ilham Akbar Habibie, The Habibie Center Foundation (f.l.t.r.)

hinas success-story meanwhile is well-known, but other nations are following, foremost India with its huge population and comparable growth rates. The question is how will the EU and the USA respond to this development? Are there political and corporate strategies for meeting the challenges posed by the new constellation of economic powers in Asia? The regional development offers opportunities for integration, Professor Leonard Cheng, Economist at the Hong Kong University of Science and Technology, is convinced. And the economy is decisive for integration, Dr. Ilham Akbar Habibie, Chairman, Institute for Democratization and Socialization of Technology in Indonesia, added. That means economic relations, export and import, linking up China and Asia with the USA and Europe. And yet, the understanding of integration as a concept differs greatly in Europe, Asia, and the USA. "China and Asia seem to form a trade bloc, which is working against the US and Europe",

Jack C.K. So, Chairman of Hong Kong Trade Development Council, said. China in particular appears to be pursuing regional partnerships in order to avoid external "paternalisms. "But its position is threatened by internal economical and political imbalances", Dr. Michael Schaefer, German Ambassador to China, explained. From an American perspective, the Europeans have established a very close relationship to China while the country continues to represent a strategic aggressor for the USA, explained Professor David Shambaugh, George Washington University. Michael Knig, President of Bayer Greater China Group, is concerned about the concepts of democratic states. If the United States, Europe and India line up with others against China and Russia, that would be disastrous and represents a very perilous course, he explained. "There is no alternative to the integration of China," Knig said, "because there is no solution to the energy questions or fighting poverty without the big

players of tomorrow. China, Russia, Brazil, India, and others have to be integrated, otherwise we will be drawn back. Dr. Michael Schaefer sees the role of the emerging Asian superpower very distinctly: Chinas interest is to be in the drivers seat or at least, to share in steering this development". And Professor Cheng added: As China becomes the largest economy in the world, it has to take responsibility for all. The requirements and conditions for this are just as distinct. The more the understanding of integration differs, the more important it is to have the rules and institutions for all. On the one hand, there is the UN, which must receive an entirely new foundation in a multi-polar world and on the other, there is the WTO, which is defining collective rules. Only if everyone keeps with these rules, will they also be able to take advantage of the opportunities of collective trade, which will positively influence the differing political definitions of "integration". Dr. Habibie: "Win-win partnerships will make the integration sustainable. <<

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Climate Change is a Wake-up Call

Christine Loh, Civic Exchange, introduces possible strategies against climate change

Andreas Streubig (left), Otto Group, and Wu Xiangming, Shanghai Maglev Transportation Development Co. Ltd.

imon Brooks, Vice President of the European Investment Bank, has a very simple answer to the question of how to best protect the environment and prevent climate change: We cannot hang around and wait. Christine Loh, CEO of Civic Exchange in Hong Kong, explained and added climate change is a wake-up call. She is however certain that it is a game-changer for everyone in the world. Even in 2020 there will still be areas in Europe with high pollution, she forecasts, and adds when we ask the Asians how quickly they can clean up, dont forget to bear this in mind. But what needs to be changed in the game? We have to create a new collab-

oration, Loh said. Up until now, the opposite has often been the case. Developing and developed countries are blaming each other for pollution, with everyone instead asking what they can do for themselves. We need a global approach to solve the pollution problem, Dr. Martin Brudermller, Member of the Board of the chemical company BASF in Hong Kong, believes. We have to bring the right people together, because there is a lot of knowledge, technology and money which has to be coordinated, Loh said. And Dr. Brudermller agreed by saying that the problem is not research and development, but applying the solutions.

One such example is renewable energy. Global attitudes have shifted, even in the USA. In Europe, 44 per cent of people will pay more for products which are produced ecologically, Andreas Streubig, Division Manager for Environmental and Social Policy at Germanys mail order group Otto, explained. But Klaus Bernhart, Global Head of Energy at HSH Nordbank AG in New York, stressed the problem: Entry costs are enormous and therefore we need government subsidies for a couple of years. Many of these forms of technology require high investment levels over a long period of time, Simon Brooks pointed out, and therefore we also need regulation. David Marsh, Chairman of London and Oxford Capital Markets plc, is convinced that it should be seen as a Marshall Plan for the economies. Wu Xiangming, Chairman of the Shanghai Maglev Transportation Development, demonstrated just how difficult it is to realise environmentally-friendly investment if politicians do not play ball. He built the first maglev train that runs 30 kilometres from Shanghai to the airport and never tires of pointing out the ecological benefits. Wu said, this technology is very good and saves a lot of energy, it only requires half the energy consumption of a car. The maglev train is a German invention, but it hasnt been built there yet. We were looking into an extension in 2006, but when the Germans stopped working on their projects, it heavily influenced us, Wu explained. The demand for a model is also posed regarding energy. I dont think we have a future with our coal, Christine Loh says, but are you ready to say no to more new coal plants in Europe and Germany? <<

Martin Brudermller, BASF SE (left)

Klaus Bernhart, HSH Nordbank AG

Simon Brooks, European Investment Bank

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The Driving Force of Innovation

Xie Qihua, CFIE

he human resource issue continues to be one of the bottlenecks preventing further development in China. Less than ten per cent of local job candidates have the skills required by companies with global operations. But the country is currently trying to overcome the image of being the worlds workbench and aiming to develop an innovative society. Chinese companies are very aware of the fact that they are behind companies from other countries, Xie Qihua, former Chairwoman of Baosteel Group and Executive Chairman of the China Federation of Industrial Economics, admitted, but the government wants us to become the driving force of innovation. What technical abilities do companies in China have?, Dr. Margot Schller, Senior Research Fellow of GIGA Institute of Asian Studies in Germany, asked. Baosteel is a good example of demonstrating the progress. Firstly we focussed on the distribution

of our products, Xie explained, and secondly we focussed on branding our products. The focus here was on energy-saving production. Baosteel worked with domestic, as well as German and American universities, to build up competitive know-how. Chinese companies such as Baosteel aim to benefit from the transfer of knowledge, attain global market levels, and develop new products. The highly ambitious goal set by the government of no longer being dependent on nonChinese companies by 2020 can only be achieved through international cooperation. But Dr. Arding Hsu, Senior Vice President of Siemens in China, believes that this can happen. I lived in the United States for 30 years and came back in 1994, he told the auditorium. China is going to become an innovating powerhouse, the only question is when. Multinational companies have no alternative but to go to China, because

with globalisation, not only China depends on the world but vice versa. There are nonetheless various motives, which is why foreign companies are promoting research and development in China. While some want to tap the Chinese market, others are interested in building up a corporate network with the same level in China as elsewhere in the world. This is the case for Lufthansa Technik AG, for example, which has been cooperating with Air China since 1984. Lufthansa Technik AG started one of the first joint ventures at Beijing Airport. Maintaining aircraft requires responsible staff, therefore we educate our employees, August Wilhelm Henningsen, Chairman of Lufthansa Technik AG, explained. Henningsen continued Now we have 5,000 employees in China, we provide students with technical training and we have cooperations with the universities in Beijing. The other side is BP, the British oil company: We strongly believe that the Chinese market needs Chinese solutions, therefore we have several joint ventures with Chinese partners, Dr. Gnter Strempel, Director Energy Innovation Laboratory of BP China, told the auditorium. He is impressed by the high commitment levels to development demonstrated by the government. BP has three major projects in China working on clean energy that address long-term and fundamental research. Dr. Strempel added that in China, human resources and recruitment are very important in order to be an attractive company. The Chinese have the opportunity to choose and they are doing so; they are more flexible than people in other countries. <<

Arding Hsu, Siemens Ltd. (China), Gnter Strempel, BP (China) Holdings Limited, August Wilhelm Henningsen, Lufthansa Technik AG (f.l.t.r.)

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Cooperation is on the Agenda

Representatives of the BRIC-countries discuss strategies for economic growth

N. Janardhan, Gulf-Asia Affairs

heres no doubt about it all four of the so-called BRIC countries, i.e. Brazil, Russia, India and China, are big and their economies have grown rapidly over the last ten years. They are home to 40 per cent of the global population and they contribute ten per cent of the worlds GDP. In the West we say these countries are important because of growth, Professor Dennis Snower, President of the Kiel Institute for the World Economy, declared. But the countries are very different in terms of political backgrounds and economic frameworks. In Russia future growth depends for example on the investment climate, whereas the Chinese economy becoming increasingly effective with its improved financial system, said JeanLuc Schneider, Deputy Director of the OECD in Paris. And this results in two questions: What are the growth drivers in the four countries and is the growth sustainable? If we start with Brazil - it is a fact that the country once experienced growth rates of its domestic products like China is doing today. But it lost momentum in the 1990s because of high tax burdens and political instability. The outlook has improved once again, Dr. Lirio Parisotto, Chairman of Videolar S.A., an entertainment and chemical company, believes.

We have a big market, the largest in South America and we have a lot of infrastructure opportunities, he stressed. This picture is surrounded by a solid middle class of about five million people, a lot of land with efficient agriculture and, last but not least, a big oil field, found in 2007. And when he was asked about the reasons for Brazils further growth in the future, Parisoto added that a stable financial policy, a policy to prevent social disaster and democracy are required This is not the case in Russia. There is a simple answer when looking for driving forces: luck with oil and gas. But that is too easy, Yury Y. Demidov, Chairman of SOVAG AG, an insurance company, believes. Russia passed through two different phases in the last 20 years, he explained. In the 1990s the country was poor, but it started to develop freedom and democracy, Demidov remembered. But it was not stable so they didnt follow this and the economy crashed in 1998. Afterwards they were lucky with the prices of oil and gas but also reformed the economic framework. It is now easier to get a licence for a company and they only have 16 different taxes instead of 200 in 1999. Russia found the right framework for the market society, Demidov resumed. But no one knows what the effects of shrinking oil and gas prices will be.

That is in no way the problem with India, a democratic country with a huge population. It has a good work force, specialised in IT and software, a dynamic private sector, and political stability. These are the main drivers of economic growth which should also guarantee sustainable rates of eight per cent over the next few years. But we have a lot to do in terms of utilities and infrastructure, said Dr. N. Janardhan, a political analyst. Last but not least - China. We are not a democracy, Cai Shiyin admitted, founder of Global Fashion Project, but it prevents instability. And the drivers for future growth? For me the biggest driver for change and growth comes from consumer demand, the young lady is convinced. For example, China will be the biggest market for luxury goods in 2014. And she believes that infrastructure growth will follow on from growing domestic production. Of course there are also big problems with the environment, she admitted, but she is convinced China is on the right path. I was very critical, but now after living in six countries I am very optimistic, she said. Finally Dr. Janardhan resumed, saying that the international community has to look at BRIC in a different manner, cooperation is on the agenda! <<

Yury Y. Demidov, SOVAG AG

Cai Shiyin, Global Fashion Project, and Lirio Parisotto, Videolar S.A.

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A Strategy for Energy and Raw Materials

he fast-growing demand for energy and natural resources is leading to increasing dependence on imports and, at the same time, causing the need to open up new sourcing opportunities. Are renewable energies the solution? We have to use more clean energy in the future, Professor Eckhard Rohkamm, at that time Chairman of German AsiaPacific Business Association, said in confirmation of this point, but there are financial necessities - we cannot ruin our economies. Despite such restraints, wind energy for instance has huge potential in China, Lu Weiding, President of the Wanxiang Group, explained. The reason is electricity will not reach everyone in the big country, Lu added. Thomas Richterich, CEO of the German wind turbine producer Nordex AG, assisted: Two years ago no one mentioned wind energy in China, but now it is one of the fastest-growing markets and the most important one over the next 15 years.

Therefore Nordex AG, active on the Chinese market for 15 years now, has two production facilities in China. But competition is increasing rapidly, Richterich reported. 40 new companies started up in the last 15 months and Chinese competitors are continually increasing their competence in the international markets. But there are several requirements that apply not just to wind energy but to renewable energies in general. A number of incentives are required to start reasonable production because a lot of money has to be invested before the business can benefit from the advantage of low costs. That is the reason why there are no free markets for renewable and, especially, wind energy anywhere in the world. And there is a second requirement: the economy needs electricity around the clock and not only when wind is present. But these problems can be solved, Richterich promised, with a better infrastructure than is currently in place, combined with large-scale off-shore wind parks.

Professor Rohkamm, however, mentioned that all new technologies need at least one generation to show noticeable effect. So, he continued, neither wind, nuclear power nor coal can solve the problems of energy supply alone. We need a stable mix of all forms of energy not only in China but everywhere else in the world. And this factor must be accompanied by energy-saving measures and sustainable use of national resources. This is thus the only successful strategy available to satisfy Chinas need for raw materials. There is a growing need in China for global raw materials, Dr. Bernd Drouven, CEO of the copper producer Norddeutsche Affinerie AG, explained, but the country has also the responsibility to balance this need and to avoid protectionism. Dr. Drouven believes that there is only one solution for both of these points: In order to have growth you have to have a strategy both for energy and for raw materials. <<

Moderator Eckhard Rohkamm (2nd right), German Asia-Pacific Business Association (OAV), among the participants

Thomas Richterich, Nordex AG, discusses the possible future developments of wind energy in China

Lu Weiding (left), Wanxiang Group Corporation, Bernd Drouven, Norddeutsche Affinerie AG

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Huge Bottlenecks in Domestic Transport

ogistics should not only be efficient but also green, Dai Wenkai, Chief Economist at Shanghai Zhenhua Port Machinery Group, claimed. And nobody will contradict him after looking at the figures. Since 2001, Chinas logistics industry recorded an impressive average annual growth rate of 13 per cent with similar development expected in the future thanks to the countrys ongoing surge in foreign and domestic trade. Logistics is therefore their key factor for future success, said Peter Kleinschmidt, Member of the Board of Beiersdorf AG, a German cosmetics company. That is why Professor Jens Froese, Head of the Institute of Ship Operation, Sea Transport and Simulation (ISSUS), stressed that logistics was an art but recently it became a science. Why not establish joint programmes between China and Europe?, he asked. The sector still faces a number of major

challenges and contradictions, such as low service levels and limited use of modern information technology, a lack of regulation in some areas and excessive regulation in others, an imbalance between poor hinterland transport infrastructure and state-of-the-art sea ports. An example of state-of-the-art transport is Dais company, a famous producer of container-handling cranes in roughly 70 countries. The Shanghai Zhenhua Port Machinery Group assembles the cranes in China due to the local know-how and low labour costs. With 48 own vessels, they transport the cranes all over the world. We have time for transportation because we have these vessels, Dai explained. And Bertram R. C. Rickmers, Chairman of the Rickmers Group, who owns also a liner carrier, added: We ship turbines and other high-tech products to China and in future we will ship such goods from China to the USA or Europe.

But we have huge bottlenecks in terms of inland transport, Andreas Werner stated, General Manager of Raiffeisen Zentralbank in Austria. The number of consumers is growing rapidly along with the number of China-based retail chains, but the distances are immense, Kleinschmidt added. And customers are getting more and more demanding, so the carrier needs supporters to manage and control the transport from start to finish. But the scarcity of young, motivated people is a fact, Werner said, whose company finances transport from A to B. As a result we hire a lot of people fresh from university and train them. One reason for the lack of young people is that logistics is not as sexy as other jobs, the Austrian businessman is convinced. So he hopes to change the mood, and added that giving it more sex appeal in the public eye would be very helpful! <<

Andreas Werner, Raiffeisen Zentralbank Oesterreich AG

Jens Froese, Technische Universitt Hamburg-Harburg

Dai Wenkai, Shanghai Zhenhua Port Machinery Group

Bertram R.C. Rickmers, Rickmers Holding

Peter Kleinschmidt, Beiersdorf AG

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Looking Forward to a Period of Innovations

Nobel Laureate Edmund S. Phelps, Columbia University, points out the importance of political and economic frameworks for innovation

s China an innovative society? If so, how will it develop in future? Will old Western industrial regions, such as the European Union, benefit from this or instead suffer increased pressure from competition? Singapores state founder, Lee Kuan Yew, and Professor Edmund S. Phelps, Nobel Prize winner for Economics from the USA, covered these issues during their keynote speeches at the end of the Hamburg Summit. Professor Phelps elucidated the situation with a brief historical outline. A very large portion of countries productivity is not the result of domestic endeavours, but rather those of global endeavours, he noted, and added that In the 20th century, new inventions were largely made outside the nations. Investors then provided consumers with access to the inventions in their respective countries. Driven by the hope of social ascent through economic success, these people with entrepreneurial spirit make the

sacrifices, but they do not invent anything. When applied to China, the professor for economics reaches the following conclusion: The initial innovations in China are still small in relation to the knowledge abroad. But its business and politicians are very busy transferring outside knowledge into their country. His summary is that the emergence of a new large economy can slow down innovations but, on the other hand, the market grows and with it the opportunity to pay off innovative investments. Professor Phelps is convinced that we are looking forward to a period of more innovations in the world. This is a position Lee Kuan Yew affirmed in his speech via satellite link. After 40 years of extreme dynamism they are hitting growth borders he explains. But they cannot stay still because they not only have social and environmental problems, he told the audience, global downturn will force

them to focus more on national consumption. And there is a lot of room if you compare for instance the consumption of 70 per cent in the USA with some 35 per cent in China. And costs are rising, so they have to restructure, as Singapore has done, to higher products and to upgrade peoples skills. Lee has no doubt, that China is getting it together. At the Olympic Games the world was able to see Chinas capabilities, Lee said. It was one of three big events in 2008 which changed society deeply. The big snow disaster and especially the earthquake galvanised them, because, for the first time, political leaders were seen hand in hand with the people. But the Olympic Games were the latest evidence that they have to work together to be successful, Lee is convinced. And they know that every year of peace will help to develop the country and to close the gap to developed countries, therefore they want to avoid conflict, Lee concludes. <<

Singapores Minister Mentor Lee Kuan Yew (right) stresses the importance of Chinas process of opening up Edmund S. Phelps (left) and Moderator Horst Teltschik

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Europeans should be Visible and Present

early two years ago, the European Commission launched its Global Europe strategy to increase Europes competitiveness within the global economy. The challenge is to grasp the opportunities offered by the current globalisation process and to minimise the risk from unfair trade practices and protectionism, Pierre Simon, President of Eurochambers, explained in his keynote speech at the end of The Hamburg Summit: China meets Europe. China plays an important part in this strategy because trade between the EU and China increased by 17 per cent in 2007. But what are the crucial points required to make the strategy a success? First of all the failure to come to an agreement during the WTO negotiations on the Doha Agenda has been a major setback. The benefits of a liberalised world economy with improved market

access, a stable, transparent and internationally accepted system of rules and instruments are essential, Simon explained. And he hopes that there is a very small window of opportunity to resume the Doha talks. One of the main issues of trade relations with China is of course the problem of protecting Intellectual Property Rights. Simon: China still remains the main source of counterfeit goods, with almost 60 per cent of all articles seized at EU borders coming from there. And it is not only companies that lose a lot of money from fake goods, but there is also the social aspect regarding consumer health and protection. This is also fundamental for the Chinese economy and their major brands which are equally subject to pirated goods. Promoting global and fair trade and enhancing protection against unfair trading practices will lead to increased,

safer and more stable trade between Europe and China, Simon said. But there is another topic he as a representative of European Chambers of Commerce stressed - It is important for the EU to be visible and present in the emerging markets. Therefore the European Commission signed a contract with India to establish an EU Business and Technology Centre in Delhi. This centre will help European Companies to enter the Indian market. And the EU Commission has ambitions to set up a similar European business centre in China. The reason for this is quite clear, Europe is becoming a brand of its own, Simon explained, and more and more companies are presenting themselves as a European company, instead of French, German or Italian. This is the way to foster relations which are correctly described with the word partnership, Simon believes. <<

Simon's keynote on mutual business opportunities for European and Chinese companies

Participants attending Simons speech

Pierre Simon, Eurochambres

The audience actively participates in the discussion

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Two Awards for a Better Understanding

Jack C.K. So (left) hands over the China-Europe Friendship Award to Michel Rocard

Award winner Michel Rocard

Xie Qihua receives the China-Europe Sustainability Award

Xie Qihua and Moritz Frste, German hockey gold medallist (f.l.t.r.)

tradition at the Hamburg Summit: China meets Europe is that two prizes are awarded to deserving Chinese and European personalities. The ChinaEurope Friendship Award honours special commendation for relations between the upcoming Asian economic power and the old continent. The China-Europe Sustainability Award honours people who have made a special commitment to environmental protection. Both prizes are awarded to representatives of both regions on an alternate basis. This years China-Europe Friendship Award was conferred by Jack C.K. So, Chairman of Hong Kong Trade Development Council, to the former French Prime Minister Michel Rocard, who is now a Member of the European Parliament. Rocard stressed the importance of mutual understanding, he said in his laudation and added that we are

continuing the process of understanding at this Summit because China and the EU must work together to achieve better results. Rocard answered I accept this prize with great emotion. He recalled a dinner with German chancellor Helmut Schmidt in Paris in 1982 where he asked to speak to Rocard in private just four people were involved in the discussion. Rocard recounts that he told everyone how stupid the Americans hostile attitude towards rising China was. During the dinner at the end of the first day of the Hamburg Summit at the famous Hotel Atlantic, the former Chairwoman of Baosteel, Xie Qihua, received the China-Europe Sustainability Award. In his laudation Berndt Rder, President of the Parliament of the Free and Hanseatic City of Hamburg, stressed the outstanding activities undertaken by Baosteel to protect the environment. Ms

Xie is not only responsible for Baosteels development towards becoming one of the biggest corporates in China, Rder told the audience, but she made also a lot of effort to make steel production more ecological. He urged the audience to go to Shanghai and visit Baosteel, you will see a tiny production site in a green area. Xie was deeply impressed to be honoured in this way and pointed out that producers in Germany, France and China are committed to protecting the environment. All managers need to work together to provide for a better future. And Nikolaus W. Sches, Conference Chairman and former President of the Hamburg Chamber of Commerce, added that sustainability is no longer an option but a must in order to save the world for our children. The Chinese government and the business community are striving to achieve this goal. <<

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Ways to solve Upcoming Problems

Nikolaus W. Sches, Conference Chairman, concludes the conference

n times of globalisation proceeding at full speed, a good and friendly relationship between China and Europe is of utmost importance for both sides. In order to build up such a strategic partnership, it is imperative to respect each others traditions and feelings. The success of the Olympic Games is a kind of crown for the work that had been done up to now thanks to the significant improvements made, China is now playing a decisive role in the world economy. When we started to plan this conference right after the end of the last Hamburg Summit in 2006, our aim was to strengthen European and international attendance. Looking back we can definitely say that we reached our goal. But the path to this success has not always been an easy one. Almost exactly one year ago, German-Chinese relations were interrupted abruptly. The political resentments turned into an ice age which lasted almost half a year. This period gave us many sleepless nights. But even in these difficult times, we at the Hamburg Chamber of Commerce always believed in the strength of dia-

logue. After a successful conference I am happy and proud that the third Hamburg Summit: China meets Europe was the occasion for the first visit to Europe by a member of the Chinese government after the political turbulences. Thus, our Hamburg Summit was also an important milestone on the way to improving SinoEuropean relations. What did we learn from this years conference? Let me point out the major results: First: China is on its way to assuming global responsibility, and the European Union should welcome and support this development. In turn we should all do our utmost to promote multilateral cooperation leading to a fair, just, and rule-based international system. Second: The dramatic challenges of climate change and environmental pollution in China can only be dealt with in the form of a joint Sino-European initiative. We have discussed Chinas way of combating the challenges and European ways of supporting these approaches. A fair dialogue on an eye-to-eye level is

necessary to find solutions suitable for all of us. Third: For the time being, there is unfortunately no purely European way of doing business with China and of jointly representing our interests vis--vis the government in Beijing. National interests are still predominant. This certainly has to change. How can we be seen as a Union if we do not behave as one? Fourth: China is definitely a must for most European companies. For some firms facing growing competition from China, it is a question of survival to arrange partnerships with Chinese firms. The process of opening up has new opportunities in store. They should not be missed! Fifth: The European Union should support the Chinese government in its endeavours to reform the economy and establish a stable society. All of the speakers and panellists at the Hamburg Summit unanimously pointed out that there is an enormous need for reforms in the Peoples Republic. So, indeed, there are still challenges ahead. But as long as we continue fostering the dialogue, I am confident that we will always find ways to solve upcoming problems. This third time marks the beginning of a tradition, Helmut Schmidt said at the beginning of this Hamburg Summit. And he added that I sincerely hope that the Chinese and European guests will contribute towards the future of this tradition. I can assure you now that we will continue this tradition, and the fourth Hamburg Summit: China meets Europe will be hosted in autumn 2010. <<

International press attends the whole conference

Networking among the participants

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Views on the Hamburg Summit

Quotes

It is a pleasure joining you in this prestigious biennial event to celebrate and strengthen SinoEuropean ties.
H.E. Sheikha Lubna Al Qasimi, 11 September 2008

In light of the global importance of China-EU relations and speaking as a business representative, I believe that such an event as the Hamburg Summit is crucial to ensuring an ongoing dialogue between all relevant stakeholders.
Pierre Simon, 12 September 2008

We are confident that Chinas economy will continue to grow, but China cannot develop without the rest of the world and vice versa.
Zhang Dejiang, Deputy Prime Minister, People's Republic of China

We see a healthy development between the European Union and China and we invite all European Companies very much to invest in China.
Jiang Yiren, Shanghai Federation of Industrial Economics

The fact that such a high-ranking politician comes to Hamburg is a clear gesture that you should not underestimate.
Christine Loh, 11 September 2008

Hamburgs China Summit enjoys an excellent reputation in Beijing.


Horst Teltschik, 12 September 2008

The more we become integrated in the global flow of information and trade, the less we can shy away when it comes to meeting global challenges together.
Frank-Walter Steinmeier, Federal Foreign Minister and Deputy Chancellor, Federal Republic of Germany

Now China has a place in the rule-setting organisation WTO, the country is no longer dominated by the West. There will be a new world, in which the East has the same voice.
Ronnie C. Chan, Hang Lung Group

It is the superlative Sino-European summit the only international economic conference dealing with the gamut of common relations in Europe and attended by scores of top-flight participants.
Hamburger Abendblatt, 11 September 2008

The summit, initiated by the Hamburg Chamber of Commerce, is a vital platform for prominent public and private sector personalities.
Emirates News Agency, 15 September 2008

There is an imperative need to build and sustain a constructive working relationship between the European Union and China in order to guarantee the security of our energy supply, to slow down climate change, to settle or prevent local and regional conflicts, and to combat international terrorism.
Lszl Kovcs, Commissioner for Taxation and Customs Union, European Commission

The world economy is navigating through heavy seas at the moment. Both China and the European Union are confronted with a number of common challenges as well as specific domestic concerns.
Lucas Papademos, European Central Bank

Three times marks the beginning of a tradition. I sincerely hope that the many guests here today from China and Europe will contribute to the tradition of the Hamburg Summit.
Helmut Schmidt, 11 September 2008

The earthquake galvanised them together and the Olympic Games were the last proof for the Chinese people that they have to work together to close the gap to the developed countries.
Lee Kuan Yew, Minister Mentor, Republic of Singapore

We need forward-looking strategic projects on key industries like automobile, energy, public transport. We want to attract more talents and a comprehensive atmosphere for research.
Xie Qihua, China Federation of Industrial Economics

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H.E. Sheikha Lubna Al Qasimi, Minister of Foreign Trade, UAE Klaus Bernhart, General Manager, New York Branch, Global Head of Energy, HSH Nordbank AG, USA / Germany Ole von Beust, First Mayor and President of the Senate, Free and Hanseatic City of Hamburg, Germany Simon Brooks, Vice President, European Investment Bank, Luxembourg Dr. Martin Brudermller, Member of the Board, BASF SE, Hong Kong Ronnie C. Chan, Chairman, Hang Lung Group, Hong Kong Prof. Leonard Cheng, Acting Dean, School of Business and Management, Chair Professor, Department of Economics, The Hong Kong University of Science and Technology, Hong Kong Lt. General (Ret.) Daniel Christman, Senior Vice President, US Chamber of Commerce, USA Dai Wenkai, Deputy President, Chief Economist, Shanghai Zhenhua Port Machinery (Group) Co. Ltd., P.R. China Prof. Xie Danyang, Head of Economic Department, The Hong Kong University of Science and Technology, Hong Kong Dr. Bernd Drouven, Chief Executive Officer, Norddeutsche Affinerie AG, Germany Prof. Jens Froese, Professor and Head of Institute of Ship Operation, Sea Transport and Simulation (ISSUS), Technische Universitt Hamburg-Harburg, Professor of International Logistics Management and Engineering, Jacobs University Bremen, Germany Dr. Ilham Akbar Habibie, Chairman, Institute for Democratization and Socialization of Technology, Vice Chairman, Board of Directors, The Habibie Center Foundation, Indonesia Dr. Richard Hausmann, Chairman, German Chamber of Commerce in China, President and Chief Executive Officer, North East Asia Region, Siemens AG, President and Chief Executive Officer, Siemens Ltd., P.R. China August Wilhelm Henningsen, Chairman of the Executive Board, Lufthansa Technik AG, Germany Frank Horch, President, Hamburg Chamber of Commerce, Germany Dr. Arding Hsu, Senior Vice President, Head of Corporate Technology, Siemens Ltd. China, P.R. China Anne Marie Idrac, Minister of State to the Minister for the Economy, Industry and Employment, with responsibility for Foreign Trade, France Dr. N. Janardhan, Political Analyst, Gulf-Asia Affairs, UAE Jiang Yiren, Member of the Standing Committee, CPPCC National Committee, Chairman, CFIE Presidium, Chairman, Shanghai Federation of Industrial Economics Peter Kleinschmidt, Member of the Executive Board, Beiersdorf AG, Germany Steffen Klusmann, Editor-in-Chief, Financial Times Deutschland, Germany Michael Knig, Chairman of Bayer (China) Ltd., President of the Bayer Greater China Group, President of Bayer MaterialScience China, P.R. China Lszl Kovcs, Commissioner for Taxation and Customs Union, European Commission, Belgium Lee Kuan Yew, Minister Mentor, Republic of Singapur (via satellite) Christine Loh, Chief Executive Officer, Civic Exchange, Hong Kong Lu Weiding, President, China Wanxiang Group Corporation, Chairman, CFIE Presidium, P.R. China David Marsh, Chairman, London and Oxford Capital Markets plc, U.K. Matthias Nass, Deputy Editor-in-Chief, DIE ZEIT, Germany David OSullivan, Director General, Directorate General Trade, European Commission, Belgium

Prof. Lucas D. Papademos, Vice-President, European Central Bank, Germany Dr. Lirio Parisotto, Founder and Chairman, Videolar S.A., Brasil Prof. Edmund S. Phelps, Nobel Laureate, McVickar Professor of Political Economy, Director, Center on Capitalism and Society, Columbia University, USA Thomas Richterich, Chief Executive Officer, Nordex AG, Germany Bertram R.C. Rickmers, Chairman, Rickmers Holding GmbH & Cie. KG, Germany Peter Rieck, Deputy Chief Executive Officer, HSH Nordbank AG, Germany Michel Rocard, former Prime Minister of the Republic of France, Member of the European Parliament, France Prof. Dr.-Ing. Eckhard Rohkamm, Chairman, German Asia-Pacific Business Association (OAV), Germany Prof. Dr. Eberhard Sandschneider, Otto Wolff-Director, Research Institute, German Council on Foreign Relations, Germany Dr. Michael Schaefer, Ambassador of the Federal Republic of Germany to the Peoples Republic of China Helmut Schmidt, former Chancellor of the Federal Republic of Germany Jean-Luc Schneider, Deputy Director, Policy Branch, Economics Department, OECD, France Nikolaus W. Sches, Conference Chairman, former President, Hamburg Chamber of Commerce, Shipowner, F. Laeisz GmbH, Germany Dr. Margot Schller, Senior Research Fellow, GIGA Institute of Asian Studies, Germany Prof. David Shambaugh, Director, China Policy Program, The Elliott School of International Affairs, The George Washington University, USA Pierre Simon, President, Eurochambres, Belgium Prof. Dr. Dennis Snower, President, Kiel Institute for the World Economy, Germany Jack C.K. So, Chairman, Hong Kong Trade Development Council, Hong Kong Dr. Theo Sommer, Editor-at-large, DIE ZEIT, Germany Dr. Frank-Walter Steinmeier, Federal Foreign Minister and Deputy Chancellor, Federal Republic of Germany Dr. Gnter Strempel, Director, EIL, BP (China) Holdings Limited, P.R. China Andreas Streubig, Division Manager Environmental and Social Policy, Otto Group, Germany, David Tak-kei Sun, BBS, JP, Chairman and Managing Partner, Ernst & Young Far East Area, Hong Kong Prof. Dr. h.c. Horst M. Teltschik, Chairman, Teltschik l Hauer Associates, Germany John Thornhill, European Editor, Financial Times, U.K. Prof. Dr. Norbert Walter, Chief Economist, Head of Deutsche Bank Research, Deutsche Bank AG, Germany Dr. Ulrich Weber, Vice-President Final Assembly Line China, Airbus, Germany Mag. Andreas Werner, General Manager, Raiffeisen Zentralbank Oesterreich AG, P.R. China Wu Xiangming, Chairman, Shanghai Maglev Transportation Development Co., P.R. China Jrg Wuttke, President, European Union Chamber of Commerce in China, Chief Representative China, BASF China, P.R. China Xie Qihua, former Chairwoman, Baosteel Group Corporation, Executive Chairwoman, CFIE Presidium, P.R. China

@ Selected speeches are available at www.hamburg-summit.com


43

THE HAMBURG SUMMIT


China meets Europe
10 to 12 September 2008 Hamburg Chamber of Commerce

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