July 9, 2018 / 1:24 PM / 12 days ago

German companies clinch Chinese deals at Merkel-Li meeting

BERLIN (Reuters) - German companies signed a raft of agreements with Chinese partners at a meeting of Chinese Prime Minister Li Keqiang and German Chancellor Angela Merkel in Berlin on Monday, according to a document seen by Reuters.

Chemicals giant BASF (BASFn.DE) agreed with the government of Guangdong province on a plan for a new site in China, and business software maker SAP (SAPG.DE) struck a strategic cooperation agreement with Suning Holdings Group, the document showed.

Siemens (SIEGn.DE) agreed with China’s State Power Investment Co on joint development of a high-performance gas turbine, and with Alibaba Cloud Computing (BABA.N) on a cooperation on an Internet of Things platform, it said.

Also, carmaker BMW (BMWG.DE) struck a deal with China’s Brilliance Group to expand their joint venture, while Volkswagen (VOWG_p.DE) and China’s Anhui Jianghuai Automobile Group (600418.SS) signed a Memorandum of Understanding on a joint research and development center and a car platform.

Reporting by Andreas Rinke; Writing by Maria Sheahan; Editing by Christoph Steitz

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