Berliner Boersenzeitung - Germany's Scholz arrives in China to boost economic ties

EUR -
AED 4.033632
AFN 75.554639
ALL 98.772991
AMD 426.769718
ANG 1.987359
AOA 1013.613232
ARS 1071.533469
AUD 1.61591
AWG 1.97671
AZN 1.871252
BAM 1.955661
BBD 2.226442
BDT 131.77065
BGN 1.955761
BHD 0.413671
BIF 3199.173
BMD 1.098172
BND 1.431298
BOB 7.619459
BRL 6.040371
BSD 1.102722
BTN 92.528435
BWP 14.585965
BYN 3.608644
BYR 21524.172736
BZD 2.222642
CAD 1.491263
CDF 3152.852434
CHF 0.941709
CLF 0.036817
CLP 1015.897916
CNY 7.707466
CNH 7.796148
COP 4619.972186
CRC 571.959416
CUC 1.098172
CUP 29.10156
CVE 110.257177
CZK 25.371843
DJF 196.356067
DKK 7.460437
DOP 66.315295
DZD 146.42761
EGP 53.048236
ERN 16.472581
ETB 131.91484
FJD 2.429651
FKP 0.836323
GBP 0.836926
GEL 3.00942
GGP 0.836323
GHS 17.444762
GIP 0.836323
GMD 75.774264
GNF 9520.324478
GTQ 8.532395
GYD 230.693631
HKD 8.529514
HNL 27.419054
HRK 7.466484
HTG 145.389684
HUF 401.715553
IDR 17208.356468
ILS 4.188324
IMP 0.836323
INR 92.279785
IQD 1444.497505
IRR 46238.535747
ISK 148.978448
JEP 0.836323
JMD 174.237637
JOD 0.778059
JPY 163.312508
KES 142.249907
KGS 93.019347
KHR 4475.682425
KMF 493.024776
KPW 988.354248
KRW 1479.095448
KWD 0.336404
KYD 0.918935
KZT 532.542213
LAK 24349.272279
LBP 98745.393447
LKR 323.85702
LRD 212.8149
LSL 19.264533
LTL 3.242617
LVL 0.664274
LYD 5.258627
MAD 10.785735
MDL 19.346627
MGA 5050.641628
MKD 61.615628
MMK 3566.820073
MNT 3731.588673
MOP 8.817974
MRU 43.654902
MUR 51.054436
MVR 16.857357
MWK 1912.064328
MXN 21.173201
MYR 4.635938
MZN 70.177291
NAD 19.264533
NGN 1798.454863
NIO 40.577121
NOK 11.700809
NPR 148.045495
NZD 1.783123
OMR 0.42283
PAB 1.102722
PEN 4.107709
PGK 4.391688
PHP 62.203216
PKR 305.994888
PLN 4.317782
PYG 8595.390108
QAR 4.020515
RON 4.98296
RSD 117.010697
RUB 104.99255
RWF 1493.993993
SAR 4.125043
SBD 9.091451
SCR 16.483971
SDG 660.554542
SEK 11.385387
SGD 1.431581
SHP 0.836323
SLE 25.09027
SLL 23028.113751
SOS 630.155287
SRD 34.266988
STD 22729.944822
SVC 9.648315
SYP 2759.190222
SZL 19.256634
THB 36.545012
TJS 11.743567
TMT 3.854584
TND 3.373161
TOP 2.572033
TRY 37.608083
TTD 7.478469
TWD 35.455625
TZS 3004.786793
UAH 45.397479
UGX 4043.713075
USD 1.098172
UYU 46.116728
UZS 14049.003142
VEF 3978186.045782
VES 40.620775
VND 27201.722381
VUV 130.377195
WST 3.072096
XAF 655.910459
XAG 0.034122
XAU 0.000414
XCD 2.967865
XDR 0.820042
XOF 655.910459
XPF 119.331742
YER 274.876415
ZAR 19.192369
ZMK 9884.870451
ZMW 29.02794
ZWL 353.610961
  • SCS

    0.3500

    12.97

    +2.7%

  • RBGPF

    58.9400

    58.94

    +100%

  • RYCEF

    0.0000

    6.98

    0%

  • CMSC

    -0.0400

    24.7

    -0.16%

  • RIO

    -0.1300

    69.7

    -0.19%

  • BCC

    0.6100

    138.9

    +0.44%

  • VOD

    -0.0300

    9.66

    -0.31%

  • NGG

    -0.4700

    66.5

    -0.71%

  • CMSD

    -0.0770

    24.813

    -0.31%

  • GSK

    0.4500

    38.82

    +1.16%

  • RELX

    -0.3200

    46.29

    -0.69%

  • AZN

    -0.4600

    77.47

    -0.59%

  • BCE

    -0.1300

    33.71

    -0.39%

  • BTI

    0.1800

    35.29

    +0.51%

  • JRI

    -0.0200

    13.28

    -0.15%

  • BP

    0.4200

    32.88

    +1.28%

Germany's Scholz arrives in China to boost economic ties
Germany's Scholz arrives in China to boost economic ties / Photo: Carsten Koall - AFP

Germany's Scholz arrives in China to boost economic ties

German Chancellor Olaf Scholz arrived in Beijing Friday seeking to bolster a vital economic relationship but facing criticism about his country's heavy reliance on a nation growing more authoritarian under Xi Jinping.

Text size:

Scholz is the first G7 leader to visit China since the start of the coronavirus pandemic, which prompted the world's number two economy to largely close its borders.

Accompanied by top executives, he is due to hold talks on the one-day trip with President Xi, as well as Premier Li Keqiang.

But the visit has sparked controversy, coming so soon after Xi strengthened his hold on power and as tensions run high between the West and Beijing on issues ranging from Taiwan to alleged human rights abuses.

German industry's heavy dependence on China is also facing fresh scrutiny, as Berlin reels from an over-reliance on Russian energy imports that left it exposed when Moscow turned off the taps.

Scholz's approach is still underpinned by the idea that "we want to keep doing business with China, no matter what that means for the dependence of our economy, and for our ability to act", opposition lawmaker Norbert Roettgen told the Rheinische Post newspaper.

Concern about China has also come from within the ruling coalition, with Foreign Minister Annalena Baerbock saying mistakes made in the past with Russia must not be repeated.

The sensitivity of the issue was highlighted when a row erupted last month about whether to allow Chinese shipping giant Cosco to buy a stake in a Hamburg port terminal.

Ultimately, Scholz defied calls from six ministries to veto the sale over security concerns, instead permitting the company to acquire a reduced stake.

- 'Going it alone' -

The German and Chinese economies are deeply intertwined. Some in Berlin view the relationship as particularly important as Germany, battling an energy crisis triggered by the Ukraine war, hurtles towards recession.

China is a major market for German goods, from machinery to vehicles made by the likes of Volkswagen, BMW and Mercedes-Benz.

The leader of Europe's top economy has defended the trip, insisting direct talks with Chinese leaders were "all the more important" after a long hiatus due to the pandemic.

In a newspaper article, he said that "we will not ignore controversies", and listed thorny topics that would figure in talks, from respect for civil liberties to the rights of minorities in Xinjiang.

In Beijing, foreign ministry spokesman Zhao Lijian said China was looking forward to a "successful" visit, and that "cooperation far exceeds competition" between the countries.

But he also warned that "the Chinese side is opposed to interference in our internal affairs, and smearing us under the guise of discussing human rights issues".

There are concerns that the trip -- coming on the heels of Xi securing a historic third term at a Communist Party Congress last month -- may have unsettled the United States and the European Union.

"The chancellor is pursuing a foreign policy which will lead to a loss of trust in Germany among our closest partners," said Roettgen, from the conservative CDU party, accusing Scholz of "going it alone".

Berlin, however, says there have been consultations with key partners, while Scholz has insisted he is visiting China as a "European" as well as the leader of Germany.

(K.Lüdke--BBZ)