World economy can benefit from China development

FRANKFURT, Germany: China's development success since it opened up to the world has benefited foreign companies, and its vast market remains promising for European firms, a leading German economist has said.

"The success of Chinese development, let's say the amazing success in the last 45 years or so, was also great for foreign companies. They make a very good business and make a lot of revenue," Horst Loechel, professor of economics at the Frankfurt School of Finance and Management, told Xinhua in a recent interview.