Finance
A flood of cheap Chinese exports is putting the entire global economy at risk, France’s finance minister warns
The entire world economy is at risk from a glut of cheap Chinese exports, France’s Finance Minister Bruno Le Maire said in tandem with a barrage of joint criticism from the Group of Seven.
“We have an issue with the economic model in which China is producing more and more cheaper industrial devices because it could be a threat not only for the EU, not only for the US, but for the global world economy,” Le Maire said in an interview with Bloomberg Television. “We need to address that issue.”
Leading industrialized nations are coalescing for a tougher and more united challenge to overcapacities in China, which they say threaten their domestic manufacturers.
G-7 finance chiefs meeting in Stresa, Italy cited the country by name as they agreed to “respond to harmful practices” and “to consider taking steps to ensure a level playing field.” Those words marked an escalation from the sparse and more neutral language on trade they standardly use in communiques.
Their statement followed Washington’s announcement on Friday that President Joe Biden will reimpose tariffs on hundreds of goods imported from China. Meanwhile the EU is nearing the end of an electric-vehicle subsidy investigation that is likely to lead to defensive measures against China’s auto exports.
The EU’s potential levies are expected to be significantly lower than the US’s and based on a different approach within World Trade Organization rules and procedures.
Le Maire said at the G-7 meeting that member countries need to strengthen information exchange and establish a shared assessment of China’s industrial practices. Nonetheless, he insisted that the EU has all the necessary tools to reestablish a level playing field .
“Don’t make any mistake about the determination of the EU countries and the French determination,” Le Maire said.
AI Cooperation
The French minister said he is seeking to preserve gains from years of government policies and investment to build its own industry and technology sectors.
A key priority is Artificial Intelligence, where France intends to preserve its leadership in Europe. That has attracted foreign capital, with Microsoft Corp. announcing €4 billion in investment in French cloud and AI infrastructure this month. Paris-based Mistral AI has also announced a partnership with Microsoft in February.
Asked if he could used state screening rules to prevent foreign investors taking over French tech companies, Le Maire said the point at the moment is to increase cooperation, not to block it.
“We will see what are the options of cooperation between Mistral and Microsoft,” Le Maire said. “For the time being, Microsoft is investing in France, is opening data centers in France and investments of Microsoft in France are most welcome.”
Finance
Simply Asset Finance reaches $2.6bn loan origination milestone in 2025
Simply Asset Finance has reported that its total loan origination reached £2bn ($2.6bn) in 2025, following its growth and lending activity during the period.
During 2025, the company’s gross loan book increased to £543m and its customer base grew to 13,000.
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Additional digital platforms came online, and commercial loans were added to the range of available finance solutions.
Improvements in the company’s own technology and stronger results in various regions contributed to increased efficiency in lending operations and a broader local presence for SME clients.
In July, Simply Asset Finance introduced Kara, an AI-powered virtual agent.
Kara uses the company’s past data to enhance user interactions, streamline internal processes, and speed up decisions on lending applications.
Simply Asset Finance CEO Mike Randall said: “Our growth this year has built on the momentum of 2024, and reaching £2bn is a clear milestone for the business. All our channels have driven that progress, with rising demand for specialist lending helping us expand our footprint and support even more SMEs across the UK.
“Despite a year of challenging economic conditions, small businesses have remained resilient and ready to invest. Kara has been central to meeting demand quickly and efficiently – and we expect her value to our customers will only grow.
“As we head into 2026, we’re focused on carrying this momentum forward and working with even more brilliant businesses to unlock their potential.”
Last month, Simply Asset Finance became a Patron lender of the National Association of Commercial Finance Brokers (NACFB).
This partnership is aimed at supporting the broker community in the UK and increasing access to asset finance and leasing products through wider distribution.
The NACFB is known as an independent UK trade association for commercial finance intermediaries, promoting cooperation between lenders and brokers across the sector.
Finance
Baker McKenzie Welcomes Finance & Projects Principal Matthias Schemuth in Singapore | Newsroom | Baker McKenzie
Baker McKenzie today announced that leading project finance lawyer Matthias Schemuth has joined the Firm’s Singapore office* as a Principal and Asia Pacific Co-Head of Projects in its Finance & Projects practice, alongside Partner Jon Ornolffson in Tokyo.
Matthias joins the Firm from DLA Piper, bringing more than 20 years of experience in the energy and infrastructure sectors across Asia Pacific. He advises sponsors, developers, commercial banks, multilateral lending agencies, and export credit agencies on the structuring and financing of large-scale projects. His practice also spans international banking, structured commodity and trade finance, with a strong focus on emerging markets. Matthias has been consistently recognised by Chambers Asia Pacific and Who’s Who Legal as a leading project finance practitioner.
James Huang, Managing Principal of Baker McKenzie Wong & Leow in Singapore, said: “We are excited to welcome Matthias to our team. His expertise and proven record in managing teams will be invaluable as we expand our regional and global finance offerings for clients.”
Emmanuel Hadjidakis, Asia Pacific Chair of Baker McKenzie’s Banking & Finance Practice, commented: “Asia Pacific is seeing strong momentum in infrastructure development, energy transition investments, and cross-border project financing, much of it centred in Singapore. Having Matthias on board will further enhance our ability to help clients seize opportunities in the region’s evolving energy and infrastructure markets.”
Steven Sieker, Baker McKenzie’s Asia Chief Executive, added: “Matthias’s appointment underscores Baker McKenzie’s continued commitment to investing in exceptional talent across key markets to support our clients in navigating today’s increasingly complex business and regulatory environment.”
Matthias said: “I’m thrilled to join Baker McKenzie and contribute to its strong growth in Asia Pacific. The Firm’s global reach and local depth provide an unparalleled platform for delivering innovative projects and financing solutions to clients in this dynamic region.”
With more than 2,700 deal practitioners in more than 40 jurisdictions, Baker McKenzie is a transactional powerhouse. The Firm excels in complex, cross-border transactions; over 65% of our deals are multijurisdictional. The teams are a hybrid of ‘local’ and ‘global’, combining money-market sophistication with local excellence. The Firm’s Banking & Finance lawyers are ranked in more jurisdictions than any other firm by Chambers.
Matthias’s hire continues the expansion of Baker McKenzie’s global team. His joining follows the recent arrivals of Carole Turcotte in Toronto; Tom Oslovar in Palo Alto; Jenny Liu in New York and Palo Alto; Helen Johnson, Mark Thompson, Nick Benson, Kevin Heverin, James Wyatt and Michal Berkner in London; Jan Schubert in Frankfurt; Todd Beauchamp and Charles Weinstein in Washington DC; Dan Ouyang, Winfield Lau, and Ke (Ronnie) Li in Beijing, Shanghai, and Hong Kong; and Alexander Stathopoulos in Singapore.
*Baker McKenzie Wong & Leow is the member firm of Baker McKenzie in Singapore
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