German Economy Minister Sigmar Gabriel met China’s Trade Minister for talks in “a very good atmosphere” yesterday, his deputy said, on the first day of a trip to Beijing marked by tensions over corporate takeovers.
Prior to his trip with 60 business executives from Germany, Gabriel ratcheted up tensions with Beijing by putting the brakes on the latest Chinese takeovers of German technology companies.
Talks yesterday between Gabriel and Chinese Trade Minister Gao Hucheng overran, meaning the two ministers were not able to give the opening speeches at aGerman-Chinese Economic Committee, German officials said.
“I don’t see that as an affront,” German state secretary Matthias Machnig said of Gabriel’s no-show for his speech. “That won’t put too much of a burden on German-Chinese relations.”
Gabriel’s trip comes a week after his ministry withdrew approval for Fujian Grand Chip Investment Fund (FGC) to buy chip equipment maker Aixtron, citing new security concerns. The government is also scrutinising the sale of Osram’s general lighting lamps business Ledvance to a consortium of Chinese buyers.