Germany’s vice chancellor and economics minister, Robert Habeck, has reduced liability for investments by German companies in China by around €5 billion ($5.48 billion) since taking office, German news magazine Der Spiegel reported on Thursday, reports Reuters. Habeck’s officials have four times rejected new applications from German companies for their investments in China, totalling €101 million, the report said.
Four extension applications worth €554 million were not permitted and new applications amounting to four billion euros were not accepted for decision.
In addition, the ministry postponed applications for extensions worth €282 million because the companies had possible business relationships in the province of Xinjiang.