Amid unconfirmed reports that Germany is seeking to reduce business with China, Beijing on Friday urged Berlin to adopt a “rational and practical policy” to “help build an open world economy, instead of shooting itself in the foot.”
“We hope that Germany will adopt a rational and practical policy toward China and support greater two-way opening-up to inject positive energy into the high-level mutually beneficial cooperation between the two countries,” said Mao Ning, spokesperson of China’s Foreign Ministry.
She was responding to reports that Germany is “considering ways to make business with China less attractive in a bid to reduce dependency” on Asia’s economic powerhouse.
“If what was reported is true, then I have to say the measures to be taken by Germany are simply illogical and make no sense,” Mao said, according to a transcript of the ministry’s daily press briefing in Beijing.
“They (measures) would not bring any good to Germany’s own economy or practical cooperation with China,” she added.
According to the reports, Germany is planning to “cut or scrap investment and export guarantees for China” and no longer promote trade fairs and manager training there.
China is Germany’s biggest trading partner.
Mao said that over the past 50 years, China and Germany have “advanced economic and trade cooperation in accordance with the principle of mutual benefit.”
“Bilateral trade and investment continued to grow in the first seven months this year against the odds. Such close economic links came into shape as a result of both the law of the market and the choices of businesses. They also epitomize economic globalization,” the Chinese official added.
Despite changes in the international landscape, Mao said, China “will not change its determination to pursue high-level opening-up, share development opportunities with the world, and contribute to an economic globalization that is more open, inclusive, balanced and beneficial for all.”
“I also believe that China will become an even more attractive market for foreign investment,” she said.