Trade on agenda, Scholz reaches China : The Tribune India

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Trade on agenda, Scholz reaches China

German auto firms are highly reliant on Chinese market

Trade on agenda, Scholz reaches China

German Chancellor Olaf Scholz. File photo



beijing, April 14

German Chancellor Olaf Scholz arrived in China on Sunday on a visit focused on the increasingly tense economic relationship between the sides and differences over Russia's invasion of Ukraine.

Scholz's first destination was the industrial hub of Chongqing, where he and his delegation of ministers and business leaders were to visit a partially German-funded company and other sites in the vast city, which is a production base for China's auto and other industries.

Scholz is also scheduled to visit the financial hub of Shanghai during his three-day visit, before meeting Xi Jinping and Premier Li Qiang. German companies such as BMW and Volkswagen are highly reliant on the Chinese market, even as Beijing's support for Russia creates frictions with the West. Germany's economy has benefited from China's demand for investment and manufactured items from cars to chemicals, but those ties have frayed amid tightened regulations. — AP

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