German Chancellor Lands in Chongqing with Top CEOs, Highlighting Trade Priorities
German Chancellor Olaf Scholz arrived in Chongqing on Sunday, kicking off a three-day visit to the Chinese mainland with a powerhouse delegation of execs from Siemens, BMW, Mercedes-Benz, and other corporate giants. The trip – Scholz’s second since taking office – underscores Berlin’s push to balance geopolitical caution with booming economic ties .
‘De-Risking’ Talk vs. Trade Reality
While Germany’s 2023 China Strategy labels the country a “competitor,” trade data tells a different story: China has been Germany’s top global trading partner for 8 straight years, and over 5,000 German firms operate in the Chinese mainland. Even as some European leaders urge ‘de-risking,’ companies like Volkswagen (which sells 40% of its cars in China) keep doubling down .
Why Execs Are Still Betting on Beijing
“Calls to reduce reliance on China haven’t changed Boardroom math,” says Sun Yanhong, a European economics expert. With the Chinese market driving profits for automakers and chemical titans like BASF (building a €10B battery plant in Guangdong), Scholz’s delegation signals confidence in long-term collaboration .
As night markets buzz in Chongqing, so does the message: For Germany’s economy-first leaders, cooperation remains the ultimate currency .
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