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EADS Boss Enders: Competition for Airbus and Boeing can Only Come From China

HAMBURG, Germany, November 29, 2012 /PRNewswire/ --

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Dr. Thomas Enders, Chief Executive Officer of aerospace group EADS, speaking in the margins of the European-Chinese conference "The Hamburg Summit: China meets Europe" at Hamburg Chamber of Commerce, forecasts that only a Chinese company could be able to break into the phalanx of North American/European aircraft constructors in the future. "The entry barriers to building large commercial aircraft are high but if one country has the financial and industrial wherewithals to join the exclusive Airbus-Boeing club, it's China." He announced further investment by EADS in the Chinese market at the same time: "We want to be part of this incredible success story, with growing investments into Chinese industry, but also into citizenship and China's very talented and skilled people."

Dr. Martin Brudermüller, Vice Chairman of the Board of Executive Directors of BASF, also sees an "ever increasing level of innovation" in China: "Companies from Europe will have to make greater use of the possibilities of technological cooperation if they hope to stay successful", said Brudermüller, who is also Chairman of the China Committee of APA (Asia-Pacific Committee of German Business). Brudermüller signalled in his talk that some work is still needed for strong development of European-Chinese cooperation: "We have to substantially deepen our mutual trust."

Lu Yaohua, head of the delegation from the "China Federation of Industrial Economics" (CFIE), pled on the second of three conference days for even closer solidarity between Europe and China: "Both economies are in a state of flux and structural change. China and Europe should help one another to tap potential and complement each other through our respective strengths." Fritz Horst Melsheimer, host of the conference as President of Hamburg Chamber of Commerce, also spoke for intensive collaboration: "I am convinced that China and Europe will face similar challenges in the coming decades. Both regions will have to endeavour to achieve sustainable growth and economic resilience."

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. Today and tomorrow, more than 400 high-ranking businesspeople, politicians and scientists from 17 countries will be discussing Sino-European trade relations and China's role in the global economy. They will also be exchanging ideas on securing access to raw materials, "smart cities" and Chinese and European strategies in a multipolar world in various panel discussions.

Further up-to-date news, background information and image material for the "Hamburg Summit" are available at http://www.hamburg-summit.com and http://www.twitter.com/HamburgSummit.

Contact: Dr. Jörn Arfs, Communications Office at Hamburg Chamber of Commerce, T: +49-(0)40-36138-301, Fax: +49-(0)40-36138-460, Email: [email protected], http://www.hk24.de

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