Germany urges China to open its markets step by step

German Foreign Minister Sigmar Gabriel gestures during a joint news conference with Palestinian Prime Minister Rami Hamdallah in the West Bank city of Ramallah

BERLIN (Reuters) – Germany expects China to gradually open up its markets to foreign companies, Foreign Minister Sigmar Gabriel said on Wednesday in Berlin where he hosted his Chinese counterpart.

“I have assertively said that for us Germans and Europeans it is clear that China must open its markets step by step and that we do not expect that China will become an open economy just like the German economy from one day to another,” Gabriel said.

Chinese Foreign Minister Wang Yi said China would open up further to create a more friendly corporate environment for foreign investors.

(Reporting by Sabine Siebold; Writing by Joseph Nasr; Editing by Madeline Chambers)