Beijing - German Finance Minister Peer Steinbrueck on Monday said the purchase of Dresdner Bank by Commerzbank, in the face of competition from a Chinese bank, would be "good for Germany."

"This is good for Germany as a financial location and strengthens the financial centre," Steinbrueck said in a statement issued in Beijing, where he met top Chinese officials on Monday.

Deputy Finance Minister Joerg Asmussen said his government had used "no political influence" over the sale by Germany's Allianz of Dresdner Bank for 9.8 billion euros