China steams past U.S., France to be Germany’s biggest trading partner
Feb 24, 2017
- China for the first time became Germany’s most important trading partner in 2016, overtaking the United States, which fell back to third place behind France, data showed on Friday. German imports from and exports to China rose to 170 billion euros ($180 billion) last year, Federal Statistics Office figures reviewed by Reuters showed.
China becomes Germany’s top trading partner
- China has surpassed the United States to become Germany’s top trading partner in 2016, local media reported on Friday. The US dropped down from the top position in 2015 to become Germany’s third largest trading partner last year, Deutsche Welle reported, citing data from the Association of German Chambers of Commerce and Industry (DIHK).
Germany Wants Europe to Help Shape China’s Belt and Road Initiative
December 17, 2016
- Many German trading hubs expect new business opportunities from expanding links with the sea and land routes of the Belt and Road Initiative (BRI). For example, Germany’s largest port in Hamburg, as well as DuisPort, the company operating Germany’s biggest inland port in Duisburg, have expressed interest in becoming “BRI hubs” to attract greater volumes of East Asian and global maritime trade. However, the port of Hamburg is reportedly also developing strategies for coping with expected heavier competition from a range of Southern European ports, which China seeks to establish as maritime gateways for BRI. Germany’s Chancellor Angela Merkel has welcomed the initiative as a means to secure more Chinese investments in Europe and its wider neighborhood.