NewThe world is closely watching China’s fifth plenum, anticipating greater push for economic reform, says German ambassador to China

The international community is closely watching the outcome of the Communist Party’s fifth plenum following a series of weak economic data, says the German Ambassador to China.

“Everyone is expecting a strong signal to accelerate reforms and to open up much faster than we have seen so far,” Michael Clauss told the South China Morning Post.

Clauss’ comment came ahead of German Chancellor Angela Merkel’s two-day visit to China today. On the trip, her eighth to China, Merkel is accompanied by a large delegation of senior business executives.

The visit comes as China’s ruling Communist Party concludes its fifth plenum, which will set out the blueprint for the country’s economic development and reform plan for the coming five years until 2020.

Germany’s relations with China were “very mature and on an equal footing”, Clauss said. Economic ties were strong, too, with bilateral trade volume three times that of Germany’s closest European competitors, he said.

International investors are anticipating moves by Beijing to show that its faltering economy, slowing manufacturing and market turbulence will not deter it from its planned reforms.

Economists and business executives have criticised the slow progress of the economic reform plans that President Xi Jinping had pledged in late 2013. Foreign firms and business chambers are also concerned about tight information controls and regulatory intervention.