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A ‘thaw’ in Germany’s ties with China? Berlin and Beijing commit to closer financial cooperation
- Dialogue between the two countries is recovering, with top-level commitments on the weekend, analyst says
- Berlin’s continued backing for the China-backed Asian Infrastructure Investment Bank will send a reassuring signal to Beijing, observer says
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Germany showed it still values its economic ties with China despite geopolitical tensions, with the two countries pledging on the weekend to pursue closer financial cooperation, analysts said.
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The commitment, made in Frankfurt at the first high-level financial dialogue in four years, also underlined Berlin’s rejection of decoupling, observers said.
In a 25-point joint statement released after the meeting on Sunday, the two countries said they would expand market access, deepen investment, and strengthen cooperation through multilateral economic frameworks, including the China-backed Asian Infrastructure Investment Bank (AIIB).
The meeting was the latest top-level contact between the two countries. Last week, Chen Wenqing, China’s most senior security official, visited Germany for talks, taking with him officials from a broad range of government bodies, including the central bank and the ministries of foreign affairs, industry, public security, state security and justice.
The contact takes place against a backdrop of a tougher German strategy on China and growing calls in the European Union to “de-risk” ties with Beijing.
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