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China is currently stepping up efforts to realize its industrialization, informatization, urbanization and agricultural modernization, Wang said. "Germany's rich experience on these fronts will provide wide prospects for bilateral cooperation."

E also predicted that the interest rate would stay stable, with little chance of declining, which would cause tension in inflation management and would hardly help cool the rush of capital inflow.

The leaders vowed to reform international financial system to make them more representative and to reflect the "growing weight" of the BRICS and other developing nations, adding that the leadership selection of international financial institutions should be open, transparent and merit-based.

China's producer price index (PPI), an index tracking changes in prices that producers charge for their output, fell 2.6 percent year on year in April.

It followed a phone hook-up between China's new Premier Li Keqiang and his German counterpart Angela Merkel on Friday, which Yang said indicated the importance the leadership of the two countries attached to further development of the relationship.