Germany urges 'level playing field' in foreign investment

Berlin

GERMANY'S economy minister called on Wednesday for an international "level playing field" in foreign investment amid concerns over rising Chinese interest in German firms and said Berlin wanted the European Union to tackle the issue.

Sigmar Gabriel drew a distinction between open markets and what he called "a state-capitalist interventionist market", a clear reference to China, where German companies have long complained of obstacles to investment and acquiring local firms.

"What we can't do is sacrifice German companies and German jobs on the altar of open markets when in reality there isn't a level playing field. Open markets require the same rules of the game," Mr Gabriel, who is also vice-chancellor, told reporters. "This is not about protectionism but about creating fairness . . . It's not about a specific company or country. It's about open markets based on fairness, on fair competition under the …