According to a media report, the German development bank KfW is largely withdrawing from China. Jochen Flasbarth, State Secretary in the German Development Ministry (BMZ), announced in Beijing on Thursday that the financial cooperation between the development bank and China was largely ending, according to a report by the German newspaper Süddeutsche Zeitung on Thursday evening. Negotiations with Chinese authorities on the last three projects worth 370 million euros, for which the German government assumes liability, will be finalized within a year. Accordingly, China will no longer receive new subsidized loans, but only loans at standard market conditions.