The concept paper, which highlights the automotive and chemical industries, describes plans to make less dependence on exports attractive to German companies. Before the document is approved, it still has to go through a number of ministries. A final decision on Germany’s China strategy is expected early next year.
The largest trading partner
China became Germany’s largest trading partner in 2016, partly due to high demand for German cars and machines. The relationship with China was investigated after Russia invaded Ukraine earlier this year. With that, the relationship between Russia and Germany, heavily dependent on Russian gas, came to an abrupt end. “We must not repeat this mistake. This is the responsibility of politicians and companies,” the document describes.
The German government has previously blocked the sale of companies to Chinese investors. For example, chipmaker Elmos of Dortmund was unable to get into the hands of competitor Silex, a Swedish subsidiary of the Chinese Sai Group. The German government, on the other hand, has allowed the Chinese state-owned company Cosco to acquire an almost 25 percent stake in a container terminal in the port of Hamburg. This decision was criticized by several ministers.