"As Hamburg's Mayor, I am delighted that one end of this road is located in our city. This applies both to the sea-routes via ship and to the trans-continental routes via rail," said Scholz.

Cooperation rather than confrontation is a useful concept in international relations, he said, adding that especially here in Hamburg, "we are highly aware of the importance of China's role in the global economy".

China's development is an opportunity for the world, said Chinese Vice Premier Liu Yandong in her keynote speech, adding that the Belt and Road Initiative is to turn China's opportunities into opportunities for the world and achieve common prosperity.

The summit which was scheduled for Nov. 23 and 24 this year in the northern German city of Hamburg delivered discussions, keynote speeches and panel meetings focusing on various topics, such as the fallout from Brexit, China's economic transition, the Belt and Road Initiative and boosting efficiency in industrial manufacturing.

Initiated by Hamburg Chamber of Commerce in 2004, the biennial summit serve as an important platform for discussing China-EU economic cooperation.

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