In China, Germany’s Olaf Scholz seeks ‘open and fair’ competition, cooperation
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German Chancellor Olaf Scholz calls for 'open and fair' competition between European and Chinese automakers during his visit to China. He visited a hydrogen-fuel-cell plant operated by German auto supplier Bosch in Chongqing and an innovation center of German company Covestro in Shanghai. Scholz insists on open and fair competition with China's carmakers while welcoming China-made cars in the German market. Bilateral relations between Germany and China have been strained due to conflicts concerning human rights, security, unfair competition, and market access for foreign companies. China has been Germany's largest trading partner for many years, with an estimated 5,000 German companies operating in China. However, the value of exports and imports between the two countries in 2023 dropped by 8.7% from the previous year. The European Union is conducting an anti-subsidy investigation into Chinese electric vehicles, and concerns about overcapacity in the new-energy sector have been raised. German businesses in China have observed 'unfair competition,' and German politicians have differing views on economic reliance on China. The future of China-Germany relations will be influenced by Berlin's policy priorities and will require a balancing act between ideology and economic interests.
#China #Germany #Trade #Competition #Automakers #MarketAccess #ElectricVehicles