STORY: China-Germany economic cooperation sees steady, far-reaching progress
SHOOTING TIME: April 13/14, 2024
DATELINE: April 15, 2024
LENGTH: 00:02:18
LOCATION: Beijing
CATEGORY: POLITICS/ECONOMY

SHOTLIST:
1. various of China's development
2. various of German enterprises in China
3. SOUNDBITE 1 (Chinese): XU DAQUAN, Bosch China President
4. SOUNDBITE 2 (English): CHRISTIAN HAUER, Member of management board of Fresenius Kabi and president of Fresenius Kabi MedTech
5. various of German enterprises in China
6. various of China's development

STORYLINE:

This year marks the 10th anniversary of the China-Germany comprehensive strategic partnership and its bilateral economic cooperation has witnessed steady and far-reaching progress over the past decade.

A report from the German Economic Institute shows that the total direct investment by German companies in China reached a record high of 11.9 billion euros (about 12.7 billion U.S. dollars) in 2023, a year-on-year increase of 4.3 percent.

The value accounted for over 10 percent of Germany's total overseas investment, the highest level since 2014.

More than 5,000 German enterprises currently take root in China for operations as the large Chinese market contains huge investment potential and opportunities.

SOUNDBITE 1 (Chinese): XU DAQUAN, Bosch China President
"Bosch has always been confident in the Chinese market from the group level, so over the past 10 years, we have invested an average of nearly 5 billion yuan (about 690 million U.S. dollars) annually in China. We will continue to invest about 7 billion yuan (about 970 million U.S. dollars) in the Suzhou Industrial Park in the next few years, which showcases our great confidence in the Chinese market. Meanwhile, Bosch is also increasing investment in the new sectors of China."

SOUNDBITE 2 (English): CHRISTIAN HAUER, Member of management board of Fresenius Kabi and president of Fresenius Kabi MedTech
"We have now decided to centralize everything here in Nanchang (Jiangxi Province) because it's much more competitive. China is a very competitive country when it comes to manufacturing, but also when it comes to R&D. I think it (the business environment) is good. I think it's positive. As I said, there is growth. We hear also from our customers' good feedback. The market is strong. The market is growing. We see additional opportunities to drive our business here in the Chinese market."

Over the years, besides booming economic ties of a growing number of companies investing in each other's market, the two countries have also maintained close trade cooperation, with a trade volume amounting to 253.1 billion euros in 2023, consolidating China's position as Germany's leading trading partner for the eighth consecutive year.
   
The Europe's largest economy has also been the foremost trading partner of the world's second-largest economy within the European Union for years.

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)