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Sino-German Trade to Hit US$100 Bln This Year

The trade volume between China and Germany is to surpass US$100 billion this year, it was revealed on Monday.

The figure, announced after the meeting between Chinese Commerce Minister Chen Deming and German Economy Minister Michael Glos on Monday, has doubled that in 2004.

Germany is China's biggest trading partner and technology exporter in Europe, and the amount of German investment in China ranks second among European countries.

In the meantime, China is Germany's second largest trading partner outside of the European Union.

According to Chinese diplomats who attended Monday's meeting, the trade volume between the two world exporting giants stood at US$86.7 billion in the first nine months of this year, up 29 percent over the same period of last year.

By the end of September 2008, Germany's actual investment in China hit US$15 billion and the contracts of technology transfer from Germany to China valued at US$42.8 billion.

(Xinhua News Agency November 11, 2008)

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