German Chancellor Olaf Scholz arrived in Chongqing Municipality on Sunday, marking the start of his three-day official visit to China. Accompanied by senior representatives from prominent German companies such as Siemens, BMW, Zeiss, Bayer, and Mercedes-Benz, Scholz’s visit underscores the importance of economic cooperation between the two nations.
This trip marks Scholz’s second visit to China since taking office and his first following the release of Germany’s inaugural Strategy on China in July 2023. Amid global challenges, including the aftermath of the COVID-19 pandemic and escalating geopolitical tensions, there have been calls within Germany to reduce economic dependence on China. The Strategy on China emphasizes that China is “simultaneously a partner, competitor, and systemic rival” for Germany. It proposes “de-risking” and reducing dependencies but clearly states that Germany does not pursue “decoupling” from the Chinese economy.
Despite debates over “de-risking,” economic cooperation remains the cornerstone of China-Germany relations. China has been Germany’s largest global trading partner for eight consecutive years, according to Destatis. Conversely, Germany has been China’s largest trading partner in Europe for 49 consecutive years. Since 2015, China has been Germany’s largest source of imported goods, and the Chinese market stands as the fourth-largest export destination for German products.
German companies continue to invest in the Chinese market, demonstrating confidence in the prospects of bilateral economic ties. The presence of business leaders during Scholz’s visit highlights the optimism within the German business community. Their participation signals a commitment to deepening cooperation and exploring new opportunities within China’s dynamic market.
Scholz’s visit provides a platform for both nations to reaffirm their economic partnership and navigate the complexities of the current global landscape. By fostering dialogue and collaboration, China and Germany aim to enhance mutual understanding and contribute to global economic stability.
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Scholz's China visit: Cooperation still trend of China-Germany ties
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