Chinese Commerce Minister Chen Deming and German Economy Minister Michael Glos called yesterday for concerted actions resolving global financial turmoil.

Both ministers believed that US financial crisis had exerted vital impact on global financial market as well as on world economy, according to Chinese diplomats who attended Monday's meeting, or 14th meeting of the China-Germany joint commission for economic cooperation.

Both sides called for concerted actions from all across the world to resolve the crisis, vowing to further cooperation in this regard to safeguard the stability of financial market and real economy at large.

In his speech to German business leaders after the meeting, Chen briefed them on China's current economic developments as well as China's measures tackling the global financial crisis.

The minister urged German businesses to expand their trade, investment and economic cooperation with China.

Chen also put forward four substantial proposals to the Business leaders, namely, expanding cooperation with China's service sectors, exploring trade and investment in Central and Western China, extending cooperation with small and medium-sized enterprises and eyeing more on environment protection and sustainable development.