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China becomes biggest investor in Germany with record project numbers

Source:   Time:

BERLIN, April 27 (Xinhua) -- China became the biggest investing country in Germany in 2014 with a record number of investment projects, an official report showed on Monday.

In last year, China invested in 190 greenfield projects in Europe's biggest economy, outpacing the United States and Switzerland which ranked the second and third with 168 and 130 projects respectively, said Germany Trade & Invest (GTAI), Germany's official economic promotion agency.

Compared with the previous year, the number of greenfield projects from China increased by 37 percent in 2014.

"China is a very important investment source country for Germany," said Achim Hartig, the investment chief of GTAI, "More and more Chinese companies plan to expand their European market by investing in Germany and to strengthen the influence of their brands."

Investment from China supported German economy and its labor market. "With an investment amount of more than 200 million euros (about 216.78 million U.S. dollars), Chinese companies created over 1700 new jobs in Germany last year," said Cao Yi, Senior Manager of Public Relations in GTAI.

According to the report, electronic and semiconductor, mechanical engineering, financial service, information and telecommunication technology and software were the leading sectors that attracted the most Chinese capital. While 51 percent of the Chinese projects were settled for sales and market support, nearly 10 percent of them were invested for manufacturing, research and development.

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