Chinese investing big in Berlin high tech
By Yao Jing, China Daily/Asia News Network
July 8, 2014, 12:08 am TWN
Chinese companies are making big investments in Germany, eyeing the country's advanced technology and management, a senior Chinese commerce official said.
"The value and the amount of Chinese investment in Germany are both rising quickly," said Meng Fanzhuang, minister councilor for commerce at the Chinese embassy in Germany.
Embassy figures show that about 2,300 Chinese companies are investing in German industries — such as finance, aviation, telecommunication and machinery — with a total investment of more than US$4 billion.
Apart from setting up traditional trading firms, manufacturing bases and service companies, more Chinese investors are building research and development centers, bolstered by Germany's outstanding talent reserve and technologies, Meng said.
More Chinese investors are trying to make their ventures fit better into the local business environment. For instance, they dispatch a handful of executives to Germany for decision-making, financial management and other essential tasks, and employ local workers to prime the pump, he said.
Meng said the financial crisis that began in 2008 forced some German companies into difficulties — such as financing or finding a company's successor — to sell out to or team up with foreign companies, including Chinese ones.
Cao Yi, a media officer with Germany Trade and Invest, a promotional agency set up by the German government, said the Chinese government's support for companies' outbound investment is an important catalyst for the steadily increasing Chinese investment in Germany.