China, Germany agree to expand market access

China and Germany agreed on Sunday to expand mutual market access based on a level playing field and strengthen cooperation in the fiscal and financial areas, as strengthening economic ties could be of mutual advantage.

Vice-Premier He Lifeng and German Minister of Finance Christian Lindner co-chaired the third China-Germany High-Level Financial Dialogue in Frankfurt on Sunday and reached consensus on 25 topics, China's Ministry of Finance said in a joint statement on Sunday.

Both sides agreed to communicate on signing a memorandum of understanding on insurance supervision, and China welcomes qualified German insurance companies to apply for operational licenses in areas they specialize in, according to the statement.