China’s government is ensnaring the German business elite

Beijing The sandstorm that painted Beijing a dirty yellow last week has cleared in time. Bright pink cherry blossoms and yellow forsythia herald spring in the sprawling, meticulously manicured grounds of the Diaoyutai State Inn. White magnolias exude an intoxicating scent. A freshly polished, black electric limousine from the Mercedes Shuttle Service rolls past without a sound.

“When the flowers bloom, the butterflies come by themselves,” says Allianz boss Oliver Bäte. He has been chosen to speak for the international corporate elite who traveled to Beijing this weekend at the invitation of the Chinese authorities. After three years of hermetic corona isolation, the world’s second largest economy wants to signal at the Chinese development summit that it is back in business. The escalating conflict between China and the USA lies like a shadow over the conference – even if it is not officially an issue.