BMW confident in Sino-German business ties

German premium carmaker BMW AG sees China as one of its most strategically important markets, said Chairman Oliver Zipse on Friday.

Zipse is visiting China as a member of German Chancellor Olaf Scholz's business delegation.

"We see tremendous potential in continuing to build strong ties and foster cooperation between China and Germany.

"I am looking forward to many such opportunities in the future and I am confident: Chinese and German business ties can continue to build strong bridges between our countries," said Zipse.

As the world's largest vehicle market, China is of the uttermost importance to BMW.

Since its arrival in the country in 1994, it has sold over 6 million vehicles. In 2021 alone, it delivered 846,000 BMW and MINI-branded vehicles.

Its production base in Shenyang, Liaoning province, is the largest of its global manufacturing network.

The carmaker said it now has over 460 suppliers in China. Local procurement of its joint venture BMW Brilliance from these totaled 71.4 billion yuan ($9.84 billion) in 2021.

"This year marks the 50th anniversary of Sino-German relations and the BMW Group is proud to contribute to this success story," said Zipse.

"Innovation and trade link our economies. For me this is a partnership that can further grow, develop and improve," he said.

He said China has established one of the world's most comprehensive industrial bases and supply chains and has a large population of capable workers and professionals.

The country has also grown into a main driver in many of BMW's strategic areas including digitalization, electrification and sustainability.

Zipse said the recent messages from the Chinese government on continuing to attract foreign investment, expand opening-up and drive innovation are encouraging.

"We are optimistic about the medium- and long-term prospects of the Chinese market. The BMW Group is unwaveringly committed to China and will continue its win-win-partnerships with local companies," he said.