"China is ready to assume global responsibility" / Conference Chairman Schües reflects positively on the "Hamburg Summit: China meets Europe"

Hamburg (ots) - Nikolaus W. Schües, Conference Chairman of the
"Hamburg Summit: China meets Europe", reflected positively on the
three-day conference. The aim of this year's conference - to
strengthen European and international participation - has been a
success. "We wanted to live up to the name of the summit: 'China
meets Europe'. We have achieved this aim." Regarding China's
integration into the international economic system, the former
President of Hamburg Chamber of Commerce said, "It was pretty obvious
in our discussions that the People's Republic of China is aware of
its political influence on the international stage and is
demonstrating its willingness to assume the global responsibility
that goes with it." According to Schües, the European Union should
support this and help China to integrate further into the global
political and economic system.

Besides the euro crisis and trade relations between the EU and
China, the change in leadership in Beijing was also a focal point of
discussions at the "Hamburg Summit". European Commissioner for Trade
Karel De Gucht commented: "The way that China develops in the coming
years is of crucial importance - not only for the Chinese people but
also for Europe and the rest of the world." The necessary reforms
will have to be kick-started to guarantee long term sustainable
growth of China's economy. De Gucht again: "What is needed is a new
balance that favours the market over the state and where consumption
and innovation play much bigger roles."

Peter Praet, chief economist of the European Central Bank,
referred to a current imbalance in the global economy. Speaking at
the "Hamburg Summit", Praet said that the outbreak of the crisis had
triggered a "Great Rebalancing" process at the global level. "It is a
painful but necessary process, which is partly cyclical." The
economist believes that the success of this rebalancing rests on the
cooperation of all countries: "Each continent, America, Europe and
Asia must continue making every effort to ensure that this process
remains durable." Otherwise, the global recovery would be put at
risk.

The "Hamburg Summit" is organised by Hamburg Chamber of Commerce
every two years and has become the leading European-Chinese business
conference since its inauguration in 2004. Since Wednesday, some 400
high-ranking businesspeople, politicians and scientists from 17
countries have been discussing Sino-European trade relations and
China's role in the global economy. They have also been exchanging
ideas on securing access to raw materials, "smart cities" and Chinese
and European strategies in a multipolar world in various panel
discussions.

Further notices, background information and image material for the
"Hamburg Summit" can be found at www.hamburg-summit.com and
www.twitter.com/HamburgSummit.

Contact:
Dr. Jörn Arfs, Communications Office at Hamburg Chamber of Commerce
T: 040-36138-301, Fax: 040 36138-460, Email: joern.arfs@hk24.de,
www.hk24.de