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Merkel’s Beijing trip with Wirecard in tow

When Angela Merkel appeared before the Bundestag’s Wirecard investigation committee on Friday, the subject was China. The MPs’ questions mainly concerned the Chancellery’s support for Wirecard’s entry into the Chinese market in September 2019, when the company planned to take over the small Chinese financial services provider Allscore and ramp it up to become a competitor for Alipay. At the time, Merkel promoted the deal to either President Xi Jinping or Premier Li Keqiang.

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