MOSCOW : Germany is not going to supervise investments by German companies thats have Investments In China
Economy, Robert Saverin, spokesperson for the German Ministry for Economic Affairs and Climate Action said on Friday.
On Thursday, media reported that Berlin was considering measures to curb Chinese influence on German companies.
“I cannot confirm that German investments in China will come under suspicion or be put under control,” Saverin
said during a briefing when asked whether Berlin plans to check German companies operating in and with China.
Berlin’s political and economic goal is to ensure that German companies are diversifying their foreign economic
contributions and sources of supply, Saverin added.
Investments In China has been Germany’s top trading partner for the last six years, with combined exports and imports
of more than 245 billion Euros ($255 billion) in 2021. Some of the major German corporations like Volkswagen, BMW
and Daimler have big shares of their production located in China.
More About Berlin Investments In China :
The German economy became more dependent on China in the first half of 2022, with direct investment and its trade
deficit reaching new heights, despite political pressure on Berlin to pivot away from Beijing, .
At the same time, growth in German exports to China weakened significantly, the German Economic Institute (IW)
said in its study, citing economists pointing to a trend towards more local production in the Chinese market.
“The German economy is much more dependent on China than the other way round,” said Juergen Matthes, who
authored the study.
He warned that this dependence posed a political problem as Beijing’s stance on the Ukraine war and its military
posture towards Taiwan placed German business with the world’s second-largest economy under scrutiny.
“Yet despite these dangers and problems, economic interdependencies with China have been moving in the wrong
direction at a tremendous pace in the first half of 2022,” the economist said.
The study found that German investment in China amounted to around 10 billion euros ($10.09 billion) between
January and June, far exceeding the previous peak half-year value recorded since the turn of the millennium of 6.2 billion euros.