|
Sany's new plant in Bedburg, Germany. Out of the around 1,000 Chinese investments in Germany, about 150 are green field projects. [Photo/China Daily] |
Sany's German growth is taking place as it also gains a manufacturing presence in India, Brazil and the United States.
Compared with German investment in China, China is a late mover in terms of investment in Germany.
Out of the around 1,000 Chinese investments in Germany, about 150 are green field projects.
A recent survey by consulting firm Ernst & Young among 400 executives of large and medium-sized Chinese companies found that Germany is the most attractive investment destination in Europe, and they are considering more acquisitions and joint ventures with German companies.
According to the survey, one in four Chinese managers viewed Germany as one of the three most appealing locations for investment worldwide. The other two were China itself, with 61 percent and the US, at 29 percent.
Within Europe, Germany was the most popular location among 63 percent of respondents, ahead of France at 13 percent.
Among the Chinese companies that are planning to invest in Germany, Europe's strongest economy, 9 percent of them are expecting to make acquisitions, while 56 percent prefer joint ventures.
As for the particular sectors, 57 percent said they were interested in mechanical engineering, with the automobile industry taking second place.
In March, the Berlin-based foreign trade and investment promotion agency Germany Trade & Invest reported that China became the biggest foreign investor in Germany in 2011, with 158 green field investment projects, ahead of the US with 110 and Switzerland with 91.
Telecom maker Huawei Technologies Co Ltd is China's biggest employer in Europe, with a 6,000-strong payroll across the continent, and 70 percent of these being local hires.
It has had a presence in Germany for more than 10 years, where it has around 1,600 employees in 20 locations, according to Olaf Reus, Huawei's director of public affairs and government relations in Germany.
Reus said Huawei is ranked the 17th most innovative company in Europe in terms of the number of patent applications approved.
Huawei is still expanding in Europe, despite the continent's financial and debt crisis.
"The crisis has not brought much crisis for us," said Carsten Senz, senior manager of public affairs and government relations for Huawei in Germany.
However, the European Commission is considering holding an investigation into whether Huawei has overused governmental subsidies and easy credit.