Germany has, in the country's first national security strategy, identified Russia as the largest threat to Europe, and has warned of the risk of excessive dependence on China for imports of critical supplies.

Chancellor Olaf Scholz unveiled Germany's first National Security Strategy at a news conference on Wednesday.

Germany, the largest economy in Europe, had maintained cooperative ties with Russia until it invaded Ukraine early last year. Germany had for many years relied on energy imports from Russia.

The National Security Strategy states that Russia is "for now the most significant threat to peace and security in Europe."

The document contains a pledge that Germany is to increase its defense spending to 2 percent of its GDP "as an average over a multi-year period" so that it can contribute to strengthening NATO's deterrence capability.

Germany, under the previous government of Chancellor Angela Merkel, had promoted economic ties with China.

However, the new strategy now warns that "China is acting time and again counter to our interests and values." It states that "China is deliberately exerting its economic power to reach political goals."

The document affirms Germany's intention to diversify its supply chains, in order to reduce its reliance on other countries for imports of critical materials, apparently with China in mind.

However, the document acknowledges that China remains a partner to deal with global challenges such as climate change.

Scholz indicated that Berlin will work out its stance toward Beijing while taking into account national security concerns. The chancellor said China is likely to continue to show economic growth, but Germany must heed national security issues.