It started 40 years ago with a loan for the first two lines of the Shanghai subway: financial development cooperation between Germany and China via the state-owned KfW bank. Since then, around ten billion euros in state-sponsored loans have been granted to China. But the relationship between the two countries has changed significantly. Not only does Shanghai now have the largest subway network in the world with more than 800 kilometers of routes and 500 stations. China has now overtaken Germany economically in some areas, and the two countries are increasingly meeting as political rivals. Do we really still need discounted loans?
KfW: The state-owned bank is largely withdrawing from China – Economy
