On December 21, Beijing time, the Jiangsu-Germany Dialogue 2021 was held in Changzhou, one of the five economically strongest cities in the Jiangsu Province. Having the second largest GDP in China, Jiangsu represents the most powerful and dynamic development in the Yangtze River Delta Region.
Germany is the most important European trade and investment partner of Jiangsu Province. According to the latest statistics, the trade volume between Jiang Province and Germany reached 26,61 Billon US dollars in 2020, which accounted for 14% of the whole trade volume between China and Germany. Between January and August 2021, the trade volume reached 21,1 Billion US dollars and marked 28,2% year-on-year growth.
Jiangsu maintains strong economic ties with its two partner States in Germany – the State of Baden-Württemberg and the State of North Rhine-Westphalia. There are over 200 companies from Baden-Württemberg residing in Jiangsu, while over 160 Jiangsu companies operating in Baden-Württemberg. The fortune 500 Company from North Rhine-Westphalia Thyssenkrupp has carried out 6 times of investments since the company came to Changzhou in 2012.
The host city of the Jiangsu-Germany Dialogue 2021 Changzhou was the birthplace of China’s modern industry. There are over 200 local companies in Changzhou which are recognized as “hidden Champions in China”. In recent years, the city has attracted many foreign companies to invest there given its excellent industrial infrastructures, high-quality technicians and engineers as well as governmental services.
Striking to become the most attractive investment site for the German companies in China, the city of Changzhou expanded its Sino – German（Changzhou）Innovation Industrial Park into 27,5 square kilometers in 2020 and attracted over 900 million Euros investment in high-tech areas including automotive, medical and healthcare, photovoltage, new materials and artificial intelligence.
Over 300 participants from both countries attended this hybrid dialogue. Representatives of difference Chinese and German companies shared their experience of investing in Jiangsu as well as their future plans. The Jiangsu – Germany Dialogue 2021 was successfully completed with ten newly signed cooperation agreements.
