Germany welcomes the progress in cooperation with China in the financial sector, and seeks to stimulate further development, German finance minister Olaf Scholz said in Beijing.

Germany is expected to sign a pact with Chinese financial regulators during the Scholz visit, and its Bundesbank may also conclude a deal with China on trade in financial products, Reuters reported. 

“This is especially important for the financial sector. This will lead to more wealth on both sides,” Scholz told reporters.