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Hamburg and Shanghai to Deepen Economic Co-Operation

Co-operation agreement signed on Industry 4.0 by the vice-president of the Hamburg Chamber of Commerce

During the China trip of Hamburg’s First Mayor Olaf Scholz, the Hamburg Chamber of Commerce and the Shanghai Municipal Commission of Commerce (SCOFCOM) have signed a Memorandum of Understanding (MoU) in Shanghai. Signed by the chamber’s vice-president Michael Westhagemann and a representative of Shanghai’s city administration, the memorandum covers co-operations in industry 4.0, finance and in the „new silk road initiative launched by the Chinese government. “We particularly would like to deepen the bilateral economic co-operation between Hamburg and Shanghai in the context of existing twinning”, said Westhagemann.

Revaluation of the Economy

“One of the priorities of the Federal Government is to make Germany a Euroepan leader in digitisation and industry 4.0”, said the vice president. The Chinese Premier Li Keqiang stressed that “Made in China 2025” – the Chinese counterpart to the German “industryl 4.0” initiative – will help to turn his country from the “workshop of the world” into an innovative economy and push ahead the much- required “economic transformation”.

Strong Basis for Industry 4.0

“It is thus more than logical thatChina and Germany have recently agreed to extend their co.operation in industry 4.0. Hamburg and Shanghai, in particular, allow to benefit from many synergies, for example when co-operating in the smartPORT-Projekt, promoting an intelligent flow of goods in the port of Hamburg,”, thus the vice-president of the Hamburg Chamber of Commerce. The reason for Hamburg’s leading position in the future project “Industry 4.0” is the strong industrial base of the city, home of highly innovative companies such as Jungheinrich, NXP Semiconductors, and Pfannenberg.

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