China remains Germany’s biggest trading partner in 2017
February 21, 2018
- China was Germany’s top trading partner again in 2017, steaming past the United States for the second consecutive year, official German data showed on Wednesday. Germany’s total trade with China rose to 186.6 billion euros ($230 billion) last year, from 170.2 billion in 2016, according to the figures from the Federal Statistics Office.
Bundesbank looking to place some reserves into Chinese yuan
January 15, 2018
- Germany’s central bank is looking to place some of its currency reserves into yuan given the Chinese currency’s increased global role, although further preparatory work would be required to make a transaction, the Bundesbank said on Monday. The Bundesbank agreed to invest in yuan, also known as renminbi, last summer, when the European Central Bank converted 500 million euros worth of its U.S. dollar reserves into the Chinese currency.
China in talks for sale of jet engine technology to Germany
14 January, 2018
- China is in talks to sell Germany state-of-the-art machinery and technology critical in the manufacture of high-performance jet engines, a senior government scientist has revealed. The technological progress could be a very important step for made-in-China jet engines, with China now the world’s largest market for commercial aircraft. Thousands of planes are on order from Airbus and Boeing, and China is also developing its own C919 passenger jet.
Germany says China seeking to ensnare officials on social networks
- Chinese intelligence agencies are using social networks such as LinkedIn to establish contact with German politicians and officials, according to a study by Germany’s internal security service. Some of the most widely-used profiles show pictures of attractive young women and men who claim to be headhunters or project managers or assistants. The names and profiles released by the BfV include those of Lily Wu and Alex Li from the Center for Sino-Europe Development Studies, Laeticia Chen from the China Center of International Politics and Economy and Eva Han from the China University of Political Science and Law.
Ahead of fractious G20, Germany and China pledge new cooperation
July 5, 2017
- Ties between China and Germany are about to enter a new phase, China’s president said, as he met the German chancellor before a G20 summit that is expected to highlight their differences with the United States on a host of issues. President Xi Jinping and Chancellor Angela Merkel pledged on Wednesday to work together more closely on a range of issues, two days ahead of the G20 summit in Hamburg that U.S. President Donald Trump is also due to attend. Trump’s testy relationship with both China and Germany is pushing the two countries closer together, despite Berlin’s concerns about human rights in China and frustrations over market access.
Chinese-German cooperation blossoms in auto, tech
June 10, 2017
- Major Chinese and German companies are forming strategic partnerships in wide-ranging fields as the former seeks access to cutting-edge technologies while the latter sets sights on the enormous Chinese market. The most symbolic of such collaborations are a tie-up between leading Chinese search engine Baidu and German automotive components supplier Robert Bosch in self-driving vehicles.
Germany and China vow to deepen ties amid Trump concerns
June 1, 2017
- Germany and China vowed on Thursday to expand their partnership and pledged to continue fighting climate change, sending a signal to Washington hours before U.S. President Donald Trump announces if he will quit a global climate deal. Berlin was the first stop in Europe for Chinese Premier Li Keqiang, amid growing concern in Germany over some of Trump’s policies, especially on climate change and protectionism. He was due to head later for Brussels. “China has become a more important and strategic partner,” Merkel said at a news conference with Li, pointing to political, economic, social and cultural ties.
Germany welcomes Chinese investment in financial firms
May 9, 2017
- China is welcome to invest in German financial firms, Germany’s top market watchdog said after Chinese conglomerate HNA Group (0521.HK) raised its stake in Deutsche Bank (). An acquisition spree by HNA reflects a broader Chinese push into financial services as Beijing encourages its corporate sector to expand overseas, although such moves have faced increased regulatory scrutiny in the United States and Europe. “We believe it is fundamentally positive that capital is being invested in German banks. This of course includes foreign capital and of course Chinese capital,” BaFin President Felix Hufeld said on Tuesday.
China steams past U.S., France to be Germany’s biggest trading partner
Feb 24, 2017
- China for the first time became Germany’s most important trading partner in 2016, overtaking the United States, which fell back to third place behind France, data showed on Friday. German imports from and exports to China rose to 170 billion euros ($180 billion) last year, Federal Statistics Office figures reviewed by Reuters showed.
China becomes Germany’s top trading partner
- China has surpassed the United States to become Germany’s top trading partner in 2016, local media reported on Friday. The US dropped down from the top position in 2015 to become Germany’s third largest trading partner last year, Deutsche Welle reported, citing data from the Association of German Chambers of Commerce and Industry (DIHK).
Germany Wants Europe to Help Shape China’s Belt and Road Initiative
December 17, 2016
- Many German trading hubs expect new business opportunities from expanding links with the sea and land routes of the Belt and Road Initiative (BRI). For example, Germany’s largest port in Hamburg, as well as DuisPort, the company operating Germany’s biggest inland port in Duisburg, have expressed interest in becoming “BRI hubs” to attract greater volumes of East Asian and global maritime trade. However, the port of Hamburg is reportedly also developing strategies for coping with expected heavier competition from a range of Southern European ports, which China seeks to establish as maritime gateways for BRI. Germany’s Chancellor Angela Merkel has welcomed the initiative as a means to secure more Chinese investments in Europe and its wider neighborhood.