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Germany plans to tighten rules for firms highly dependent on China

RECORD DATE NOT STATED Bundeskanzler Olaf Scholz nach dem Treffen der Konzertierten Aktion 31.10.2022 Presseunterrichtung durch Bundeskanzler Olaf Scholz, DGB-Vorsitzende Yasmin Fahimi, BDA Präsident Rainer Dulger, nach dem Treffen der Konzertierten Aktion Berlin Berlin GER *** Chancellor Olaf Scholz after the Concerted Action meeting 31 10 2022 Press briefing by Chancellor Olaf Scholz, DGB Chair Yasmin Fahimi, BDA President Rainer Dulger, after the Concerted Action meeting Berlin Berlin GER

Germany’s foreign ministry plans to tighten the rules for companies deeply exposed to China, making them disclose more information and possibly conduct stress tests for geopolitical risks, a confidential draft document seen by Reuters said.

strategytowards China being drawn up by Chancellor Olaf Scholz’s government as it seeks to reduce its dependency on Asia’s economic superpower.”The aim is to change the incentive structure for German companies with market economy instruments so that reducing export dependency is more attractive,” said the document, singling out the chemicals and car industries.

A spokesperson for the foreign ministry declined to comment.The draft, drawn up by the foreign ministry led by the Greens’ Annalena Baerbock, still has to be agreed by other ministries. A final decision on the China strategy is expected early next year.

Source : Head Topic