More than 350 Chinese and European political and economic figures met in the German city of Hamburg on Wednesday to discuss major issues concerning China's development and the future of Sino-European relations.

During the three-day China-Europe forum, participants are expected to focus on issues concerning China's most important sectors, including the capital market, the auto market and the reform of its financial system.

Sino-European relationship will be another major topic, and the participants will discuss issues relating to the development of Chinese and European enterprises in each other's market.

Addressing the forum, former German Chancellor Helmut Schmidt said he believed China will maintain its strong development momentum. But he pointed out that China should also prepare for many new challenges.

China's GDP has maintained a growth rate of more than 8 percent over the past two decades, unrivaled by any other countries in the world, said Schmidt. He predicted that China's GDP will rank second in the world in two decades.

Other participants included Chinese Vice-Premier Zeng Peiyan, German Interior Minister Otto Schily, government officials from across Europe, and executives of major Chinese and European enterprises.

(Xinhua News Agency November 26, 2004)