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China warns Berlin against economic withdrawal

Beijing has warned Berlin in response to reports that Germany wants to reconsider support for German companies doing business in China. The plan, if proven accurate, makes “no sense” as it would harm Germany’s own economic interests, Foreign Ministry spokeswoman Mao Ning said. “We hope that Germany will adopt a rational and practical policy toward China and support greater two-way opening-up to inject positive energy into the high-level mutually beneficial cooperation,” Mao said. Last Thursday, Reuters reported that the German Ministry of Economics is considering, among other things, overturning state investment and export guarantees for companies operating in China and that state development bank KfW should scale back its credit lines for German firms’ China business.

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