German Chancellor Olaf Scholz arrived in Chongqing on April 14, marking his second visit to China since taking office. Accompanied by three cabinet ministers from the environment, agriculture, and transportation sectors, as well as senior executives from prominent companies like Siemens, Mercedes-Benz, and BMW, Scholz’s visit underscores the significance of China’s market to Germany.
The delegation’s composition highlights Germany’s commitment to strengthening industrial collaboration with China. Scholz’s first stop was at Bosch Hydrogen Powertrain Systems (Chongqing) Co Ltd, a joint venture between the Bosch Group and Qingling Motors. Specializing in hydrogen powertrain systems—the “heart” of hydrogen fuel cell vehicles—the company represents the cutting edge of sustainable automotive technology.
The Bosch Group, deeply invested in the Chinese market, plans to invest around 1 billion euros in Suzhou this year to establish a research, development, and manufacturing base for new energy vehicle core components and autonomous driving technologies. This move reflects German companies’ confidence in China’s market, despite global geopolitical uncertainties and rising protectionism.
Sino-German economic and trade cooperation has demonstrated remarkable resilience in recent years. In Chongqing alone, 84 German-invested companies had been established as of February, spanning industries such as manufacturing, scientific research, leasing services, and finance. This pragmatic approach to collaboration continues to deepen ties between the two nations.
Bilateral economic and trade cooperation serves as the “ballast stone” of Sino-German relations and acts as a “stabilizer” for EU-China relations. In 2022, the trade volume between China and Germany reached 253.1 billion euros, with China maintaining its position as Germany’s largest global trading partner for eight consecutive years. The two countries collaborate closely in areas like maglev trains, automobiles, healthcare, green energy, and combating climate change, forming a mutually beneficial pattern through two-way investment.
The automotive industry remains a key pillar of Sino-German cooperation. The Volkswagen Group delivered a total of 3.3 million vehicles in China across all its brands in 2022, accounting for approximately 40 percent of its global deliveries. China continues to be Volkswagen’s largest single market. To further localize operations, Volkswagen plans to invest 2.5 billion euros to expand its production and innovation center in Hefei.
The continued collaboration between China and Germany not only boosts economic growth for both nations but also contributes to global industrial prosperity. As both countries navigate the challenges of a complex international landscape, their commitment to partnership signals a shared vision for a more interconnected and sustainable future.
Reference(s):
cgtn.com
