Germany and China on Friday signed agreements to strengthen coordination in banking, finance and capital markets, and pledged to further open market access and deepen their pragmatic cooperation to broaden economic ties.
Both sides reaffirm that "they will strengthen macroeconomic policy coordination and pragmatic cooperation in the fiscal and financial fields and expand strategic cooperation," according to a joint statement issued at the end of their talks.
Trade between the two nations has softened amid uncertainty caused by the U.S. tariff dispute with China, but both have shown willingness to demonstrate that the world remains multilateral.
They agreed to work to improve international economic governance, maintain the global multilateral system, combat trade protectionism and support the rule-based multilateral trading system with the World Trade Organization.
"It is important that, contrary to recent trends that we can observe elsewhere, we are seeing progress in our cooperation," Scholz told reporters before the talks at the Diaoyutai State Guest House in the Chinese capital.
A level playing field in terms of market access for banks and insurers is important, added Scholz.
Liu also noted the importance of strengthening trade ties.
"As the world economy slows, market volatility rises, creating greater risks," Liu told reporters.
Berlin has stressed its "close and advantageous" trade ties with China, whose rise has displaced Germany from its ranking as the world's third-biggest economy to the fourth.
At the same time, it increasingly seeks to better protect and strengthen sensitive German and European business sectors from China's state-backed acquisitions overseas in strategic industries.
"If you work closely together, you learn to appreciate similarities, but also to know differences," Scholz said.
"And we have a lot of common interests in financial matters, and then we need to bring different perspectives together. I believe that is the very important task of this financial dialogue," he added.
Both sides agreed that German-Chinese cooperation benefited their economies, and they are committed to ensuring a non-discriminating, open market access environment, and to easing existing market access and investment barriers in both countries.