German companies in China are full of confidence in the Chinese market

On the 23rd local time, the Chinese Chamber of Commerce in Germany announced the latest 2021/22 business confidence survey. The results show that German companies in China are still full of confidence in the Chinese market. German companies are also increasingly inclined to localize in China.

German companies in China are full of confidence in the Chinese market

According to the survey results, 60% of German companies in China said they have achieved business growth in 2021. More than half of the companies expect continued development and steady growth in turnover in 2022. At the same time, the Chinese market remains the most important global market for German companies. More than 71% of the companies surveyed plan to increase investment. And in order to better respond to market demand. Thirty-three percent of companies say they will increasingly localize technology and operational expertise in China. Only 17% of companies have no plans to localize R&D in China. In the context of coexistence of development, opportunities and challenges. The German business community in China also raised expectations for the new German federal government’s China strategy: from the perspective of German companies. On the one hand, the new German government should continue to promote fair competition and ease travel restrictions. On the other hand, continue to maintain dialogue and strive to promote economic cooperation between China and Germany in various fields.

It is reported that the business confidence survey was jointly released by the German Chinese Chamber of Commerce and KPMG. A total of 596 member companies of the Chinese Chamber of Commerce in Germany participated.

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