The Chinese government is hurting the German business elite

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

“When the flowers are in bloom, the butterflies come out on their own,” says Allianz CEO Oliver Butt. He was chosen to speak on behalf of the international corporate elite who traveled to Beijing this weekend at the invitation of the Chinese authorities. After three years of absolute isolation against the coronavirus, the world’s second largest economy wants to signal at the China Development Summit that it is back in business. The escalating conflict between China and the United States lurks a shadow over the conference – even if it is not an official affair.