CEO of EADS says China has the financial and industrial capabilities to break into the Airbus-Boeing "club."
Dr. Thomas Enders, CEO, aerospace group EADS, speaking in the margins of the European-Chinese conference The Hamburg Summit: China meets Europe at Hamburg Chamber of Commerce, forecasts that only a Chinese company could be able to break into the phalanx of North American/European aircraft constructors in the future.
"The entry barriers to building large commercial aircraft are high but if one country has the financial and industrial wherewithals to join the exclusive Airbus-Boeing club, it's China."
He also announced further investment by EADS in the Chinese market, saying, "We want to be part of this incredible success story, with growing investments into Chinese industry, but also into citizenship and China's very talented and skilled people."
Dr. Martin Brudermüller, Vice Chairman of the Board of Executive Directors of BASF, also sees an "ever increasing level of innovation" in China.
"Companies from Europe will have to make greater use of the possibilities of technological cooperation if they hope to stay successful", said Brudermüller, who is also Chairman of the China Committee of APA (Asia-Pacific Committee of German Business). Brudermüller signalled in his talk that some work is still needed for strong development of European-Chinese cooperation: "We have to substantially deepen our mutual trust."
Lu Yaohua, head of the delegation from the China Federation of Industrial Economics (CFIE), pled on the second of three conference days for even closer solidarity between Europe and China.
"Both economies are in a state of flux and structural change. China and Europe should help one another to tap potential and complement each other through our respective strengths."
The Hamburg Summit is organised by Hamburg Chamber of Commerce every two years and has become the leading European-Chinese business conference since its inauguration in 2004.