BERLIN, Nov 21 Reuters One of Germany39;s main industry lobby groups called on Monday for more support for industry to diversify trade beyond China, as the government prepares new policies aimed at reducing the economy39;s dependence on Beijing.
Businesses faced an administrative burden from planned measures such as stress tests and greater scrutiny on investments in China, outlined in a draft document seen by Reuters, the Association of German Chambers of Industry and Commerce DIHK said.
Everything we have heard so far about the German government39;s China strategy is extremely defensive, said Volker Treier, head of foreign trade at DIHK.
There is a lack of an encouragement strategy for building out sustainable economic relations, particularly in the wider AsiaPacific realm, to avoid onesided dependencies.
Asked about the draft document, the Chinese foreign ministry in Beijing told Reuters it hoped Germany would develop its relations in an objective and rational manner, adopting a policy benefiting the people of both nations.
Russia39;s war in Ukraine, which German officials say revealed the economy to be too dependent on Russian energy, has spurred a reexamination of ties with Beijing, which are close among German businesses, especially in manufacturing.
Just four German companies carmakers MercedesBenz, BMW and Volkswagen and the chemicals giant BASF accounted for a third of all European investment in China in 20182021, according to a study by research…