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German Industry Interested in Hainan Development Project in China

Over 500 people, mostly German businessmen and investors, gathered in Frankfurt July 3 to hear a presentation of investment opportunities offered by the Hainan Free Trade Port development, the large chinese project which is part of one of the Belt and Road corridors, the New West Land-Sea corridor. As emphasized by the Chinese consul in Frankfurt, this massive participation has confirmed his experience, that contrary to politicians and media, the German—and European—population are open to China and want cooperation instead of trade war.

Claudio Celani was invited as representative of the Schiller Institute and could speak on the podium as part of the final “Panel Talk.” His speech was well received and described as among the few that were not formal or circumstantial. Celani emphasized the importance of the BRI for Germany and Europe, especially for the development of Africa, and blasted the EU geopolitical mentality as a relic of the past, calling on the public to raise their voice in order to move politicians to change policy.

During the event, both the Minister of Economic and Commercial Affairs Zhai Qian at the Chinese Embassy in Germany and the Consul General in Frankfurt Huang Yiyang had ridiculed the allegations of “overcapacity” launched by the West against China, providing the example of the German auto industry, which exports 80% of its production. Celani picked up the issue, saying that in the face of the global demand for development, the world has an industrial “undercapacity.”

Several deals were signed by representatives of the German industry and Chamber of Commerce and partner firms and representatives of the Hainan Free Port Authority. Hainan offers low tax investment opportunities in tourism, services, high-tech industry (semiconductor, computers, smart terminal, R&D, electronics, AI, data processing, satellite internet), medical products, agriculture, marine industry, aviation and aerospace, “clean energy” including nuclear. Hainan’s GDP grew 9.2% in 2023.

According to the report in China Daily, the Frankfurt event, Invest in China-Hainan Free Trade Port Europe Conference, was one of several throughout Germany this week.