Sino-German economic and trade cooperation continues to deepen
Recently, the "Invest in China" exhibition area was unveiled at the Hannover Messe 2022, attracting widespread attention. Michael Schumann, chairman of the German Federal Association for Economic Development and Foreign Trade, said that the Chinese market is the interest of German companies and will also create more opportunities for German companies.
According to a report released by the German Federal Trade and Invest recently, there will be 149 Chinese investment projects in Germany in 2021, ranking third among investment source countries, involving machinery manufacturing and equipment, automobiles, consumer goods and food, communication technology and software. . "China is one of the three major source countries of investment in Germany. From the perspective of the whole of Europe, Germany is the most favored country for Chinese investors." Thomas Bojan, an expert at the German Federal Trade and Invest, said.
The economic complementarity between China and Germany is strong, especially in the automotive field. The Audi FAW new energy vehicle project was officially launched in Changchun, China recently. This is Audi's first base in China dedicated to the production of pure electric vehicles. After the completion of the first phase, it is expected to produce 150,000 new energy vehicles per year. Chinese companies such as CATL and Honeycomb Energy have also set up automotive battery factories in Germany in the past two years. Hans-Peter Friedrich, former deputy speaker of the German Bundestag, said that the global auto industry is undergoing fundamental structural changes. Germany and China have complementary advantages in the automotive field, and cooperation should be strengthened in particular.
The latest financial report released by the German BMW Group a few days ago shows that in the first quarter of 2022, BMW’s pre-tax profit was 12.7 billion euros, about four times the same period last year. Profits surged because BMW Group increased its stake in a production joint venture with China's Brilliance Corp in mid-February. BMW now owns 75 percent of the company, becoming the first foreign automaker to be allowed to take a majority stake in a Chinese joint venture. German media reported that the increase in stake in the Chinese joint venture led to BMW's profit growth.
In recent years, the economic and trade cooperation between China and Germany has continued to deepen. Data from the German Federal Statistical Office shows that the bilateral trade volume between Germany and China in 2021 will increase significantly compared with 2020, and China has become Germany's most important trading partner for the sixth consecutive year. German TV station reported that in the face of the impact of the new crown pneumonia epidemic, the trade between Germany and China has maintained a steady forward momentum, reflecting the huge potential and strong resilience of the economic and trade cooperation between the two countries. Dudenhof, a professor at the University of Duisburg-Essen in Germany, believes that both sides can benefit from deepening economic and trade cooperation between Germany and China.
This year marks the 10th anniversary of China's Sany Heavy Industry's acquisition of Putzmeister (hereinafter referred to as "Primei"), a well-known German construction machinery manufacturing company. In the past 10 years, Primai has obtained more capital and resource support for new business development, and global sales have increased from 500 million euros to over 800 million euros. In 2021, Primeval's global sales will exceed 1,000 units, a new high in recent years, and its products will be exported to 154 countries and regions, maintaining the industry's first market share outside of China. Sany Heavy Industry has learned advanced experience in internationalization, Industry 4.0, intelligent manufacturing and other aspects with the help of Prime Mait, and has made great progress.
The continuous deepening of economic and trade cooperation has boosted the confidence of enterprises of the two countries. The annual business confidence survey released by the Federation of German Overseas Chambers of Commerce shows that in 2021, 60% of German companies in China will achieve business growth, and more than half of them are confident in their future development. Jürgen Friedrich, General Manager of Germany Trade & Invest, said that China is one of the world's important growth markets and an important partner in addressing global challenges.
Wu Ken, Chinese Ambassador to Germany, said that China had controlled the epidemic earlier and better, and maintained positive economic growth, providing strong support for German companies and the German economy to fight the impact of the epidemic. German companies insist on cooperating with China and have also made important contributions to maintaining the vitality of the Chinese economy. As the world's major economies, China-Germany economic and trade cooperation has been continuously improved and upgraded, unlocking more development opportunities and injecting impetus into the recovery of the world economy.