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German companies bullish on Chinese market

Xinhua,November 20, 2020 Adjust font size:

Many German companies have expressed confidence in the Chinese market at a conference in east China's Shandong Province.

"Feel free to try out our application. Chinese and foreign companies can communicate on it and reach agreements online," Sebastian Valcic from Germany who works at the Jinan Innovation Zone, introduced the application designed for the 2020 Sino-German (Europe) SME Cooperation and Communication Conference.

The conference took place on Thursday in Jinan, the provincial capital, with 11 Chinese and foreign cooperation projects signed worth 10.13 billion yuan (1.54 billion U.S. dollars) in investment.

"We have always stayed bullish on China's development," said An Yu, executive vice president Asia-Pacific of VOSS Automotive, a German company. "Thanks to China's economic recovery policies, our business in China has grown by 40 percent this year, prompting the Asia-Pacific region revenue to become the fastest-growing revenue segment of our company."

Joachim Denzel, a project consultant with Festo, said that China's economy keeps growing despite a gloom over other economies worldwide. He expects business in China to outgrow other areas in the world in the future.

According to the Ministry of Industry and Information Technology, since 2012, China has set up nine Sino-German SME cooperation zones, giving strong support to the investment of Germany's medium- and small-sized companies in China with policies and intellectual property protection.

"Our app is still in the testing stage, but more than 150 foreign companies have already registered, and more than half of them are German companies," said Sebastian Valcic.