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Germany on Monday signed a railway cooperation deal with China which it said would boost the German railway industry's position in China, one of the world's fastest growing economies.
After signing the agreement in Beijing with Chinese Minister of Railways Liu Zhijun, German Transport Minister Manfred Stolpe said in a statement the deal would make it easier for German firms to seal contracts in China in future.

"This agreement strengthens the position of the German rail industry on the Chinese market," he said. "Due to the massive investments the Chinese railway ministry plans in coming years, this offers German firms considerable business potential."

Stolpe said the agreement covered areas including technology for building and maintaining locomotives, tracks, power supply units and signal devices, as well as transport security and information technology for organizing transportation.

It also encompassed marketing passenger and freight traffic, modernizing business management and training rail staff in areas ranging from technological issues to marketing, restructuring, reform of financing and investment and project consultancy.

A number of big German industrial firms such as Siemens and ThyssenKrupp have rail interests in China, whose economy the International Monetary Fund has forecast will grow by around 8.5 percent this year.