German industrial giant Thyssenkrupp has reaffirmed its confidence in the Chinese mainland's economic strategy with a new 1 billion yuan ($137.8 million) investment, CEO Miguel Angel Lopez Borrego revealed in an interview with CGTN. The commitment highlights international recognition of China's rising manufacturing capabilities amid shifting global supply chains.
Strategic Expansion Amid Global Shifts
Borrego praised China's "unparalleled industrial efficiency and innovation ecosystem," noting the investment will enhance production of advanced materials for renewable energy and automation sectors. This aligns with China's push for high-tech manufacturing self-reliance and carbon neutrality goals.
Navigating Trade Dynamics
The CEO emphasized balanced China-Germany relations as critical for stabilizing supply chains impacted by recent tariffs. "Collaboration, not protectionism, will drive sustainable industrial growth," he stated, referencing Thyssenkrupp's 160-year history of cross-border partnerships.
Global Implications
Academics suggest this move signals multinational corporations' long-term confidence in Asia's largest economy despite geopolitical tensions. For investors, it underscores opportunities in China's smart manufacturing and green technology sectors, projected to grow 12% annually through 2030.
