Overview
- The fourth High-Level Financial Dialogue produced a joint statement pledging stronger economic and financial cooperation and wider market opening based on fair competition.
- Both sides voiced support for multilateralism through the G20 and WTO and signaled opposition to unilateral trade restrictions and protectionism.
- Finance Minister Lars Klingbeil met Vice-Premier He Lifeng in Beijing as the first cabinet envoy from the new German coalition, joined by Bundesbank President Joachim Nagel and finance industry representatives.
- Germany’s 2025 bilateral deficit with China is forecast at €87 billion, with exports to China down 13.5% from January to August and imports up 8.3% as China became Germany’s top trading partner.
- Business groups and lawmakers warn of supply-chain risks from Chinese export controls on rare earths and a chip-export dispute involving Nexperia, prompting calls for transparency measures and a policy rethink.