SOURCE / ECONOMY
German businesses actively tap into China market amid chancellor’s visit
Published: Apr 14, 2024 07:56 PM
 
Photo: Qi Xijia/GT

Visitors at the Hainan Pavilion at CICPE Photo: Qi Xijia/GT


From automakers and cleaning equipment manufacturers to skincare brands, German businesses are actively participating in the ongoing China International Consumer Products Expo (CICPE) to establish deeper roots in China. The presence of these companies comes as the German chancellor is paying an official visit to China from Sunday to Tuesday, highlighting the importance of the China market to the German business sector.

German Chancellor Olaf Scholz would pay an official visit to China from Sunday to Tuesday at the invitation of Chinese Premier Li Qiang, the Xinhua News Agency reported on Saturday.

Cleaning equipment producer Kärcher held a global launch of its new lithium-battery-powered fabric cleaning machine at the CICPE on Sunday. One day earlier, the company opened a new center in Haikou to showcase its products and provide professional services.

"We see that Hainan is a key market for us in China due to the growing luxury hotel industry, as more and more tourists are coming to Haikou. China, with a population of 1.4 billion people, is one of the three strategic key markets for us, offering huge potential," Vice General Manager and Chief Financial Officer of Kärcher China Rainer Kern told the Global Times on Sunday.

"China is changing rapidly from very cheap manufacturing into advanced manufacturing technologies. High technology is now made and invented in China for the world," Kern said.

German skincare brand BABOR on Sunday announced it will open a store in Haikou, as it is optimistic about the development of the duty-free market in Hainan. 

Volkswagen Group China participated in the CICPE for the second year, bringing 13 star models to create a spectacular experience for visitors.

The presence of German companies at the CICPE comes as Scholz is visiting China with a bumper delegation of business executives, which is expected to signify Germany's willingness to maintain pragmatic cooperation with China, despite certain noise in the EU targeting China.

The German chancellor's visit shows the importance of the China market and the importance of staying close and maintaining mutual contact and cooperation. It is hoped that the trip will strengthen bilateral cooperation and the bilateral partnership, so that the two powerhouses will become closer and work mutually on key issues and continue to drive change for the world and new initiatives, Kern said.

He noted that "'decoupling' is a wrong word" and "doesn't make sense" because the world is getting increasingly complex and only one state cannot solve those issues. 

A report released on April 10 by the German Chamber of Commerce in China revealed that 79 percent of the German companies surveyed in China plan to continue their investment, affirming their confidence in China's robust economic foundations.

German optical giant ZEISS said in a statement sent to the Global Times over the weekend that it is hoped that the company can further integrate into China's sustainability initiatives and contribute to the development of its research, and healthcare industries, and continue to be one of the driving forces to strengthen the mutually beneficial relationship between Germany and China.