German firms keen to reinforce China presence

Cardinale added the company has also established a new research and development center in Suzhou, Jiangsu province, to drive local innovation and reinforce its presence in the China market, with the recent launch of a phase-three expansion project of its factory in Changshu, adding a 6,000-square-meter facility to its existing 40,000 square meters of space.

This year marks the tenth anniversary of the Sino-German Comprehensive Strategic Partnership, with bilateral economic and trade cooperation between China and Germany continuing to deepen.

According to data from Bundesbank, Germany's central bank, German direct investment in China reached 7.3 billion euros ($7.7 billion) in the first half of the year, compared to 6.5 billion euros in the same period of 2023.

China stood as Germany's largest trading partner last year. According to data from the German Federal Statistical Office, Germany's trade volume with China reached 253.1 billion euros in 2023, marking the eighth consecutive year that China has been Germany's most important trading partner.

Yang Ming, vice-chairman of the Senate of Economy Europe and chief representative in China for the Summit of World Market Leaders, attributed the increased investment trend to the practical needs of companies on both sides, the growth potential within the domestic market, and the ongoing enhancement of local companies' innovation capabilities, which together create significant potential for China-Germany cooperation.

"China not only offers a vast market and large consumer base, but also serves as a gateway to the broader Asian region. For instance, through the China-ASEAN free trade area, German companies gain access to even larger markets," Yang said in an earlier interview with Xinhua News Agency.

"German-Chinese cooperation has spanned decades, with large multinational corporations having already established a strong foundation in China. Additionally, many small and medium-sized enterprises, especially 'hidden champions', have a strong demand for investment and business development in the region," he added.

As one of the key platforms for exchanges between Chinese and German firms, German trade fair company Deutsche Messe AG participated in the CIIE for the fourth time this year, transitioning from an observer to an exhibitor.

Since the first edition of the expo, the group has witnessed a huge number of companies transition from initial attendees to active exhibitors — the shift not only underscores the expo's allure, but also highlights the vast potential of the Chinese market and the priority that global companies place on it, said Jochen Koeckler, chairman of the managing board at Deutsche Messe AG.

"It's a crucial platform for companies to showcase their innovations and enter new markets," he said. "We aim to leverage the global scope of the expo to introduce high-quality international exhibitions to China, while collaborating with our Chinese partners to explore new opportunities in overseas markets and present Chinese innovations to the world," Koeckler said.

The company executive also spoke highly of his experience at the seventh CIIE, particularly the convenience of the visa process, which greatly facilitated his trip to China.

"Despite global challenges posed by the COVID-19 pandemic, the Chinese government provided efficient visa services to international exhibitors, which not only reflects China's open attitude toward international cooperation, but also showcases the inclusivity and appeal of the CIIE as a platform for global exchange," he said.