Germany’s economy minister, Katherina Reiche, stated in Beijing that a modern economic relationship involves both cooperation and competition. She emphasized the need for fair competitive conditions as Germany navigates tensions with its largest trading partner, China. With China being Germany’s biggest trading partner, a trade volume of around €250 billion was recorded in 2025. Reiche highlighted that competition should be mutually beneficial.
During her meeting with China’s Commerce Minister Wang Wentao, they discussed the need for improved dialogue and cooperation while addressing the disruption caused by recent EU trade restrictions. Reiche pointed out that while German exports to China dropped by about 10%, imports from China rose significantly, leading to a trade deficit. She affirmed the importance of welcoming Chinese companies in Europe, echoing sentiments from Thyssenkrupp’s CEO about fair trade.
Reiche’s visit also focused on securing reliable access to critical minerals, an essential topic following German Chancellor Friedrich Merz’s earlier trip to China. She acknowledged the strong industrial technology in China and reaffirmed the significance of the economic relationship between the two countries. The visit included a delegation of executives from major companies like BASF, Thyssenkrupp, and Siemens Energy, signaling Germany’s commitment to fostering positive economic ties with China.
With information from Reuters
