（Source: CCTV.com 2024-09-03)
The latest data from the Ministry of Commerce shows that in the first seven months of this year, Germany’s actual investment in China increased by 26.4% year-on-year, becoming one of the highest-growing sources of foreign investment. On the basis of last year's high base, German investment in China achieved rapid growth. So, where exactly are investments going? Why are German companies so determined to increase their exposure to China?
The relevant person in charge of the German Chamber of Commerce in China said in an interview that since the beginning of this year, investment by German companies in China has reached a new high. Data disclosed by the Bundesbank also shows that Germany’s investment in China reached 7.3 billion euros in the first half of this year. In particular, automobile manufacturers’ direct investment in China increased significantly this year.
Ma Mingbo, executive director and board member of the German Chamber of Commerce in China East and Central China, said that the growth in investment is mainly driven by the automotive industry, but also includes the chemical, electronics and machinery industries. German car companies have invested heavily in local R&D and software development, and it makes sense for German companies that have performed well in the Chinese market to continue investing in the Chinese market as they become better and more competitive here.
Companies “vote with their feet” and are firmly optimistic about China, which has become a common choice for German companies. Volkswagen invested 2.5 billion euros to expand its production and innovation center in Hefei. More than 500 German companies have settled in Taicang. China's first German Center of the German Federation of Small and Medium Enterprises was recently opened in Shenyang.
Wang Yang, executive representative of the German Federation of Small and Medium Enterprises in China, pointed out that 99.6% of enterprises in Germany are small and medium-sized enterprises, of which 95% are family-owned enterprises. These companies have always been full of expectations for the Chinese market. We serve as a link and bridge. In the next step, we will fully connect the needs of Chinese and German companies to promote cooperation between the two parties and form good projects and new projects.
The "2023/24 Business Confidence Survey Report" previously released by the German Chamber of Commerce in China shows that more than 90% of the German companies surveyed stated that they will continue to take root in the Chinese market, and more than half of the surveyed German companies plan to increase investment in China in the next two years.
Sang Baichuan, Dean of the Institute of International Economics, w88 casinoIn an exclusive interview, he responded that the Sino-German industrial chain is highly complementary, and fields such as medical and health care, digital economy, and green energy have become new investment hotspots. China continues to create a market-oriented, legalized, and international first-class business environment, comprehensively removes restrictions on foreign investment access in the manufacturing industry, and expands the opening of the service industry. German companies investing in China will have more development opportunities and broader development space.
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