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HomeDiplomacyIs the Beijing-Berlin financial pledge a ‘thaw’ in Germany’s ties with China?

Is the Beijing-Berlin financial pledge a ‘thaw’ in Germany’s ties with China?

ChinaDiplomacy

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 saysBerlin’s continued backing for the China-backed Asian Infrastructure Investment Bank will send a reassuring signal to Beijing, observer saysChina-EU relationsKawala XiePublished: 10:00pm, 2 Oct, 2023Why you can trust SCMP

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.

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.

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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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