Chinese market 'indispensable' for German economy - Thyssenkrupp CEO

Reuters · 05/11/2023 08:04
Chinese market 'indispensable' for German economy - Thyssenkrupp CEO

- China is indispensable for Germany's economy, outgoing Thyssenkrupp TKAG.DE Chief Executive Martina Merz said on Thursday, responding to efforts by Berlin to lower dependence on the world's second-largest economy.

"I think we all know that the Chinese market is very important, even indispensable, for the German economy," Merz, who will leave her post at the end of the month, told journalists after presenting second-quarter results.

Merz said that the company had so far experienced any effects on its China business, which includes a facility in Shanghai where it assembles production lines for automotive components.

"We have, of course, reviewed serious disruptions in trade relations with China, and these would also have consequences for our business in China."

(Reporting by Christoph Steitz
Editing by Miranda Murray)

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