The article is devoted to Germany's policy towards China. China displaced Germany from its first place in the world in terms of exports of goods in 2008. The late 2000s marked the lowest point in relations between Germany and China. Nevertheless, in the 2010s, the German government, understanding the economic potential of relations with China, promoted the development and strengthening of relations with China, defining them as a “strategic partnership”. Such a turn in German policy occurred under the same chancellor - A. Merkel. However, the risks associated with Germany's dependence on Chinese strategic materials supplies, the espionage possibility, as well as different positions on anti-Russian sanctions made the Olaf Scholz government approach towards China tougher than the “strategic partnership” policy under A. Merkel. The article analyzes the evolution of German policy towards China, the approaches of various political powers in Germany to China, as well as the measures of the German government for “de-risking” China policy. The author gives an answer to the question whether “strategic partnership” between Germany and China in the 2010s corresponds the actual situation. Conclusions are drawn about the impact of various factors on German policy towards China, including the government, political parties, and interest groups, as well as the complexity of international relations.