<p>In an attempt to stave off Chinese influence in the country, the German foreign ministry is planning to tighten the rules for companies that are in bed with China, says&nbsp;a Reuters report. It further states that the Olaf Scholz government, as part of reducing the country’s&nbsp; dependence on China, is chalking up a new proposal.&nbsp;Under the new business strategy, companies will be required to disclose more information and&nbsp;possibly conduct stress tests for geopolitical risks.</p>

<p>"We aim to oblige companies particularly exposed to China to specify and summarise relevant China-related developments and figures, for example in the form of a separate notification obligation, on the basis of existing disclosure requirements,"&nbsp;read the document accessed by the publication.&nbsp;</p>

<p><a href="https://www.wionews.com/videos/german-chancellor-arrives-in-china-scholzs-coalition-uncertain-about-its-relation-with-beijing-531070"><strong>WATCH |&nbsp;German Chancellor arrives in China, Scholz's coalition uncertain about its relation with Beijing</strong></a></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/german-chancellor-arrives-in-china-scholzs-coalition-uncertain-about-its-relation-with-beijing-531070/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>The draft adds that investment in German companies by the Chinese will face greater scrutiny.&nbsp;</p>

<p>"The aim is to change the incentive structure for German companies with market economy instruments so that reducing export dependency is more attractive."</p>

<p>Notably, the drafting of the proposal comes in the backdrop of&nbsp;Chancellor Scholz visiting China and meeting President Xi Jinping.</p>

<p>In September, Scholz's colleague and economy minister Robert Habeck&nbsp;said in an interview that Germany 'couldn't be allowed to be blackmailed' by other countries.&nbsp;</p>

<p>"We cannot allow ourselves to be blackmailed. If [the Chinese market] were to close, which is not likely at the moment...we would have extreme sales problems," he said.<br />
<br />
<a href="https://www.wionews.com/world/once-bitten-twice-shy-after-russia-lesson-germany-to-reconsider-trade-deal-with-china-516058"><strong>Read more: Once bitten, twice shy: After Russia lesson, Germany to reconsider trade deal with China</strong></a></p>

<p>China has been Germany's biggest trade partner for the last six years. The volume of trade between the two nations reached $246 billion in 2021. However, the trade is imbalanced as Germany is much more dependent on China.</p>

<p>Berlin's trade deficit with Beijing has increased to almost $41 billion as of mid-2022. While German imports to China have only increased by 12.4 per cent in the first half of 2022 compared to 3.4 per cent in 2000, the German imports of Chinese goods have leapt an astronomical 45.7 per cent on a year-on-year basis.</p>

<p>While the German government claims it is attempting to decouple itself from China, the actions suggest otherwise. In October, the&nbsp;German cabinet&nbsp;approved China’s Cosco buying&nbsp;a 24.9 per cent stake in HHLA, a container operator at Germany’s largest Hafen Hamburg port.&nbsp;</p>

<p><a href="https://www.wionews.com/world/germany-allows-chinese-company-to-buy-stakes-in-a-company-at-its-largest-port-528560"><strong>Read more:&nbsp;Germany allows Chinese company to buy stakes in container operator at its largest port</strong></a></p>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE:&nbsp;</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


In an attempt to stave off Chinese influence in the country, the German foreign ministry is planning to tighten the rules for companies that are in bed with China, says a Reuters report.

In an attempt to stave off Chinese influence in the country, the German foreign ministry is planning to tighten the rules for companies that are in bed with China, says a Reuters report. It further states that the Olaf Scholz government, as part of reducing the country’s dependence on China, is chalking up a new proposal. Under the new business strategy, companies will be required to disclose more information and possibly conduct stress tests for geopolitical risks. "We aim to oblige companies particularly exposed to China to specify and summarise relevant China-related developments and figures, for example in the form of a separate notification obligation, on the basis of existing disclosure requirements," read the document accessed by the publication. WATCH | German Chancellor arrives in China, Scholz's coalition uncertain about its relation with Beijing × The draft adds that investment in German companies by the Chinese will face greater scrutiny. "The aim is to change the incentive structure for German companies with market economy instruments so that reducing export dependency is more attractive." Notably, the drafting of the proposal comes in the backdrop of Chancellor Scholz visiting China and meeting President Xi Jinping. In September, Scholz's colleague and economy minister Robert Habeck said in an interview that Germany 'couldn't be allowed to be blackmailed' by other countries. "We cannot allow ourselves to be blackmailed. If [the Chinese market] were to close, which is not likely at the moment...we would have extreme sales problems," he said. Read more: Once bitten, twice shy: After Russia lesson, Germany to reconsider trade deal with China China has been Germany's biggest trade partner for the last six years. The volume of trade between the two nations reached $246 billion in 2021. However, the trade is imbalanced as Germany is much more dependent on China. Berlin's trade deficit with Beijing has increased to almost $41 billion as of mid-2022. While German imports to China have only increased by 12.4 per cent in the first half of 2022 compared to 3.4 per cent in 2000, the German imports of Chinese goods have leapt an astronomical 45.7 per cent on a year-on-year basis. While the German government claims it is attempting to decouple itself from China, the actions suggest otherwise. In October, the German cabinet approved China’s Cosco buying a 24.9 per cent stake in HHLA, a container operator at Germany’s largest Hafen Hamburg port. Read more: Germany allows Chinese company to buy stakes in container operator at its largest port (With inputs from agencies) WATCH WION LIVE HERE:

Germany to chalk new business strategy to reduce trade deficit, dependence on China

<p>The German Chancellor Olaf Scholz is on a&nbsp;critical 'financial' one-day visit to Beijing with his business delegates. The German chancellor arrived on a Friday (November 04).</p>

<p>Scholz was welcomed by Chinese President Xi Jinping at the Great Hall of the People after he arrived in Beijing.&nbsp;The two leaders later together in the hall's&nbsp;"Golden Room."</p>

<p>After arriving at the airport, Reuters reported that Scholz along with the delegates were administered a COVID-19 test at the airport itself.&nbsp;</p>

<p><a href="https://www.wionews.com/world/why-german-chancellor-olaf-scholzs-china-visit-is-controversial-530973"><strong>Also read |&nbsp;Why German Chancellor Olaf Scholz's one-day visit to China is controversial</strong></a></p>

<p>The visit aims to strengthen economic ties with the Asian country. Scholz said, "It is good that we are able to have an exchange here about all questions, including those questions where we have different perspectives -- that's what an exchange is for."</p>

<p>During their in-person meeting,&nbsp;Xi expressed his belief that the trip will improve mutual understanding, and mutual trust and will also expand practical collaborations in many fields, state broadcaster CCTV reported.&nbsp;</p>

<p><strong>Watch |&nbsp;German Chancellor Olaf Scholz arrives in China, will hold talks with Xi Jinping on Ukraine war</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/german-chancellor-olaf-scholz-arrives-in-china-will-hold-talks-with-xi-jinping-on-ukraine-war-531040/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<div class="videoWrapper trancodeVideo">&nbsp;</div>

<div class="videoWrapper trancodeVideo">Xi said, "As large and influential countries, in times of change and turmoil China and Germany should work together all the more, to make more contributions to world peace and development."</div>

<div class="videoWrapper trancodeVideo">
<p>The chancellor earlier mentioned that the two leaders will be discussing&nbsp;issues related to the Russia-Ukraine conflict, Europe-China relations, the fight against climate change and global hunger during their meeting. &nbsp;</p>

<p><a href="https://www.wionews.com/world/china-evergrande-chairman-yans-hong-kong-mansion-seized-by-ccb-over-dues-530971"><strong>Also read |&nbsp;China: Evergrande chairman Hui Ka Yan's Hong Kong mansion seized by CCB over dues</strong></a></p>

<p>The German Chancellor is all set to meet Premier Li Keqiang.</p>

<p>The visit has sparked several controversies, especially at a time when the relations between the West and China are so tense over Taiwan and human rights abuses by&nbsp;Beijing. Concerns among the US and Europe have soared especially after Xi claimed his third term for the presidency.&nbsp;</p>

<p>Germany's opposition leader Norbet Roettger told Rheinische Post that Scholz's strategy is to continue trade with China. The foreign minister of the ruling coalition, Annalena Baerbock expressed her concerns over repeating the same mistakes made with Russia in the past, for its dependency.&nbsp;</p>
</div>

<p><em>(With inputs from agencies)</em></p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


The German Chancellor Olaf Scholz is on a critical 'financial' one-day visit to Beijing with his business delegates. The German chancellor arrived on a Friday (November 04).

The German Chancellor Olaf Scholz is on a critical 'financial' one-day visit to Beijing with his business delegates. The German chancellor arrived on a Friday (November 04). Scholz was welcomed by Chinese President Xi Jinping at the Great Hall of the People after he arrived in Beijing. The two leaders later together in the hall's "Golden Room." After arriving at the airport, Reuters reported that Scholz along with the delegates were administered a COVID-19 test at the airport itself. Also read | Why German Chancellor Olaf Scholz's one-day visit to China is controversial The visit aims to strengthen economic ties with the Asian country. Scholz said, "It is good that we are able to have an exchange here about all questions, including those questions where we have different perspectives -- that's what an exchange is for." During their in-person meeting, Xi expressed his belief that the trip will improve mutual understanding, and mutual trust and will also expand practical collaborations in many fields, state broadcaster CCTV reported. Watch | German Chancellor Olaf Scholz arrives in China, will hold talks with Xi Jinping on Ukraine war Xi said, "As large and influential countries, in times of change and turmoil China and Germany should work together all the more, to make more contributions to world peace and development." The chancellor earlier mentioned that the two leaders will be discussing issues related to the Russia-Ukraine conflict, Europe-China relations, the fight against climate change and global hunger during their meeting. Also read | China: Evergrande chairman Hui Ka Yan's Hong Kong mansion seized by CCB over dues The German Chancellor is all set to meet Premier Li Keqiang. The visit has sparked several controversies, especially at a time when the relations between the West and China are so tense over Taiwan and human rights abuses by Beijing. Concerns among the US and Europe have soared especially after Xi claimed his third term for the presidency. Germany's opposition leader Norbet Roettger told Rheinische Post that Scholz's strategy is to continue trade with China. The foreign minister of the ruling coalition, Annalena Baerbock expressed her concerns over repeating the same mistakes made with Russia in the past, for its dependency. (With inputs from agencies) WATCH WION LIVE HERE

German Chancellor Olaf Scholz meets Chinese President Xi Jinping during his critical 'financial' visit

<p>German Chancellor Olaf Scholz’s one-day trip to China has become “the most controversially debated visit in the country for the last 50 years”, according to Reinhard Butikofer, a German member of the European Parliament of the Green Party, a part of Scholz-led governing coalition in Berlin.&nbsp;</p>

<p>Scholz is scheduled to visit Beijing on Friday. He will be the first European leader to visit China since the beginning of the war between Russia and Ukraine, which Germany has firmly opposed by coming out in Ukraine’s support. Beijing, while diplomatically opposing the conflict at-large, has avoided unequivocal condemnation of Russian positions on the ongoing war.&nbsp;</p>

<p><strong>WATCH |&nbsp;<a href="https://www.wionews.com/videos/gravitas-germany-next-in-chinas-trap-317115">Gravitas: Germany | Next in China's trap?</a></strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-germany-next-in-chinas-trap-317115/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>On Thursday, Chancellor Olaf Scholz wrote an Op-Ed in Politico, in which he justified his overtures to China by saying that China will play a key role on the world stage in the future. “But this justifies neither the calls by some to isolate China, nor a quest for hegemonic Chinese dominance, or even a Sino-centric world order,” Scholz wrote.&nbsp;</p>

<p>“We are far — too far — from reciprocity in relations between China and Germany, whether in regard to market access for businesses, to licenses, to the protection of intellectual property or issues of legal certainty and equal treatment for our nationals. We will continue to insist on reciprocity. And where China refuses to allow this reciprocity, it cannot be without consequences,” Olaf Scholz wrote.</p>

<p><strong>The controversy</strong></p>

<p>In an unprecedented moment of domestic-international imbalance, six German ministries came out in firm opposition against China-based Cosco’s acquisition of a stake in a Hamburg container terminal last month. The deal went through anyway on Chancellor Olaf Scholz’s insistence, although on a compromise, that Cosco would take a 25 per cent stake instead of 35 per cent as was initially proposed.&nbsp;</p>

<p>Germany’s ruling alliance led by Chancellor Olaf Scholz’s Social Democrats, the Green Party, and the Free Democrats was negotiated in 2019 on a principled consensus on critical, less dependent trade practices with respect to China. However, Scholz’s recent warming up with China in the run-up to its impending visit to Beijing has put him in stark opposition against his own allies.&nbsp;</p>

<p><strong>China, Germany’s biggest trade partner</strong></p>

<p>Despite the disputes between two countries, the trade ties remain crucial. China was Germany’s biggest trading partner in 2021 for the sixth consecutive year, its biggest single source of imports and its No. 2 export destination after the United States.</p>

<p>Scholz has pledged to use his trip to make the case for Chinese moderation and assistance in calming the situations with Ukraine and Taiwan.</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe></p>

<p>You can <strong>now write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>


German Chancellor Olaf Scholz’s one-day trip to China has become “the most controversially debated visit in the country for the last 50 years”, according to Reinhard Butikofer, a German member of the European Parliament of the Green Party, a part of Scholz-led governing coalition in Berlin.

German Chancellor Olaf Scholz’s one-day trip to China has become “the most controversially debated visit in the country for the last 50 years”, according to Reinhard Butikofer, a German member of the European Parliament of the Green Party, a part of Scholz-led governing coalition in Berlin. Scholz is scheduled to visit Beijing on Friday. He will be the first European leader to visit China since the beginning of the war between Russia and Ukraine, which Germany has firmly opposed by coming out in Ukraine’s support. Beijing, while diplomatically opposing the conflict at-large, has avoided unequivocal condemnation of Russian positions on the ongoing war. WATCH | Gravitas: Germany | Next in China's trap? × On Thursday, Chancellor Olaf Scholz wrote an Op-Ed in Politico, in which he justified his overtures to China by saying that China will play a key role on the world stage in the future. “But this justifies neither the calls by some to isolate China, nor a quest for hegemonic Chinese dominance, or even a Sino-centric world order,” Scholz wrote. “We are far — too far — from reciprocity in relations between China and Germany, whether in regard to market access for businesses, to licenses, to the protection of intellectual property or issues of legal certainty and equal treatment for our nationals. We will continue to insist on reciprocity. And where China refuses to allow this reciprocity, it cannot be without consequences,” Olaf Scholz wrote. The controversy In an unprecedented moment of domestic-international imbalance, six German ministries came out in firm opposition against China-based Cosco’s acquisition of a stake in a Hamburg container terminal last month. The deal went through anyway on Chancellor Olaf Scholz’s insistence, although on a compromise, that Cosco would take a 25 per cent stake instead of 35 per cent as was initially proposed. Germany’s ruling alliance led by Chancellor Olaf Scholz’s Social Democrats, the Green Party, and the Free Democrats was negotiated in 2019 on a principled consensus on critical, less dependent trade practices with respect to China. However, Scholz’s recent warming up with China in the run-up to its impending visit to Beijing has put him in stark opposition against his own allies. China, Germany’s biggest trade partner Despite the disputes between two countries, the trade ties remain crucial. China was Germany’s biggest trading partner in 2021 for the sixth consecutive year, its biggest single source of imports and its No. 2 export destination after the United States. Scholz has pledged to use his trip to make the case for Chinese moderation and assistance in calming the situations with Ukraine and Taiwan. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Why German Chancellor Olaf Scholz's one-day visit to China is controversial