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2024.07.18 19:21 GMT+8

German companies strengthen presence in Chinese market

Updated 2024.07.18 19:21 GMT+8
Bi Ran

ZEISS, the renowned global leader in optics and optoelectronics, inaugurated a new R&D and manufacturing site in the Suzhou Industrial Park last week. This facility marks the German giant's first land purchase for a self-built project in China, reflecting the company's growing commitment to the Chinese market.

ZEISS at China International Import Expo (CIIE) /CGTN

"China is one of the most innovative and fastest-growing markets. The new site, leveraging the strengths of the Yangtze River Delta region in resources, talents, and collaborative innovation, epitomizes our commitment to digitalization and sustainability. We are ready to leverage our state-of-the-art products and technologies to promote new quality productive forces and provide strong momentum for high-quality development in China," Maximilian Foerst, president and CEO of ZEISS Greater China, remarked at the opening ceremony.

This new facility aims to become a pivotal R&D and manufacturing center in China, focusing on industrial quality solutions, research microscopes, surgical microscopes, and ophthalmic equipment. It represents a strategic move by ZEISS to deepen its localization strategy, enhancing its local R&D and manufacturing capabilities.

Meanwhile, in Beijing, the China-Germany Economic and Technological Cooperation Demonstration Zone has welcomed a new player in the healthcare sector—Jäeger Yuxiang Health Technology (Beijing) Co., Ltd. It is the first project to be established in the Beijing demonstration zone, following the China-Germany (China-Europe) Hidden Champions Forum 2024.

China-Germany (China-Europe) Hidden Champions Forum 2024 /CGTN

The increased involvement of German companies in China underscores a robust and growing partnership, fostering mutual benefits and high-quality development in both nations.

"China is arguably the most competitive market in the world, which prompts German companies to keep investing in their operations here. These businesses recognize that the products and services developed under intense competition in terms of innovation, price and quality are likely to succeed in other markets too," Maximilian Butek, executive director & board member of the German Chamber of Commerce in China and East China, told CGTN.

Central China's Hunan Province also saw a newly launched German Small & Medium Enterprises (SMEs) Cluster Zone in its Hunan Xiangjiang New Area. 

During the opening ceremony, eight projects aimed at deepening economic and trade cooperation between Hunan and Germany were signed. This initiative is set to facilitate further investment and collaboration of German SMEs in China.

China-Germany Cooperation Seminar /CGTN

German manufacturing giants such as BASF, Bosch, and Continental have each invested over 100 million U.S. dollars in Changsha City in Hunan, significantly strengthening their presence in the market.

Shi Mingde, president of the China-Germany Friendship Association, highlighted the strategic importance of the German SMEs Headquarters Cluster Zone in advancing the Sino-European international cooperation demonstration zone. 

"Germany's advantages in technology, management, and experience in manufacturing align well with Changsha's strategy of becoming an advanced manufacturing hub and a global R&D center. This collaboration provides a model for building international cooperation parks and zones in Changsha and other regions of China," he said.

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