BERLIN, June 21 (Reuters) - German Chancellor Angela Merkel’s conservatives have agreed an election programme intended to see off the fading challenge of their main rivals, the ecologist Greens, ahead of a federal election in September. Following are key extracts from a draft of the manifesto, a copy which was obtained by Reuters, which the party’s chancellor candidate, Armin Laschet, will present later on Monday. Merkel is standing down after the election. FOREIGN POLICY On China: “The greatest foreign and security policy challenge today comes from the People’s Republic of China ... On the one hand, where necessary, we must counter China’s hunger for power with strength and unity in close coordination with our transatlantic partners and other like-minded democracies ... On the other hand, we want to strive for cooperation with China where possible.” EUROPE On the common EU recovery package in response to the pandemic: “The associated European borrowing is limited in time and unique. It is not - and must never be - an entry into a debt union.” On Stability and Growth Pact: “We want to swiftly reinstate the fiscal rules of the Stability and Growth Pact and the Fiscal Treaty after the coronavirus pandemic and to further develop them without easing them.” On Turkey: “Turkey is moving away from the goal of realising the political EU accession criteria - democracy, rule of law and respect for human rights ... With us, there will be no full membership of Turkey in the EU. Instead, we will agree on a close partnership.” TAXATION On tax relief: “We will gradually abolish the solidarity surcharge for all and at the same time reduce the income tax burden on those on small and medium incomes ... We want to cap the tax burden on company profits at 25% in the future.” PUBLIC FINANCES “We are committed to the constitutional debt brake. It has proven its functionality and flexibility during the crisis. We reject amendments to the constitution to weaken the debt brake.” “We want to achieve balanced budgets without new debt as quickly as possible and reduce the general government debt ratio to below 60% (of GDP).” ENVIRONMENT On climate goals: “We are committed to achieving greenhouse gas neutrality in Germany by 2045 ... In doing so, we will rely on new technologies and innovations.” PENSIONS Pensions for stay-at-home parents: “Those who have spent a lifetime working or bringing up children must have more than someone who has not worked, and they should not have to rely on social welfare.” DIGITAL INFRASTRUCTURE On mobile communications infrastructure: “we will create a nationwide 5G network throughout Germany by 2025 and provide a total of 15 billion euros for gigabit networks by 2025.” Reporting by Andreas Rinke Compiled by Paul Carrel Editing by Raissa Kasolowsky Our Standards: The Thomson Reuters Trust Principles.