EYESHENZHEN  /   Business  /   Industry News

German firms find opportunities in GBA

Writer:   |  Editor: Zhang Chanwen  |  From: Xinhua  |  Updated: 2022-11-11

The Guangdong-Hong Kong- Macao Greater Bay Area (GBA) is offering an ideal platform for German firms to dig deep into the Chinese market.

At the research and development (R&D) and production base of Siemens Shenzhen Magnetic Resonance Ltd. (SSMR) in Nanshan District in Shenzhen, some types of medical equipment are going through final assembly, and the screen in front of each device is marked with its destination country.

Among them, parts of the equipment system are marked with “R&D in Shenzhen,” indicating that the main research and development of this system is completed in Shenzhen.

Under the strategy of “rooted in China, creating for the world,” SSMR has built a full industrial value chain in China and has delivered more than 7,000 products to global customers since 2002, said Andreas Schneck, general manager of SSMR.

In Shenzhen’s industrial district of Bao’an, the Sino-German (Europe) Industrial Park, which covers an area of more than 20,000 square meters, is becoming a carrier of high-level industrial and technological cooperation between China and Germany (Europe).

The park has introduced a number of German firms and more than 60 have expressed their intention to settle in.

“Bao’an proposes to become a world-class advanced manufacturing zone. The arrival of German firms will not only accelerate the landing of global leading technologies in China but also continuously drive local innovation in China,” said Fang Yan, a representative of the industrial park’s operator.

“The advantages of policies, manpower, raw materials and markets we provide can also bring more profits and better development to German firms,” Fang said.

Klaus Zenkel, vice president of the EU Chamber of Commerce in China and chairman of the European Chamber South China Chapter, said Shenzhen’s inclusive environment, innovative atmosphere, sound industrial support, efficient government services and rich human resources provide unique conditions for cooperation between Chinese and German firms.

According to data from Shenzhen Customs, in the first three quarters of 2022, Shenzhen’s trade with Germany was 63.2 billion yuan (US$8.7 billion), up 13.8% year on year, accounting for 23% of Shenzhen’s total import and export value to the EU.

Located in the hinterland of the GBA, the Sanlongwan Sci-tech City in Foshan, home to the Foshan Sino-German Industrial Services Zone, is an important platform in the city to promote the construction of the GBA. In recent years, foreign-funded firms are accelerating their entry.

“In recent years, the introduction of German firms has shown an accelerating trend,” said Li Jie, deputy director of the Management Committee of the Sino-German Industrial Services Zone (Sanlongwan Innovation Cluster) Investment Promotion Bureau, adding that since its establishment in 2012, the industrial services zone has introduced a total of 50 projects from Germany and Europe.

Zenkel said the GBA has many advantages, such as the high level of internationalization of Hong Kong and Macao, the complete manufacturing industry chain in the Pearl River Delta region, and the open economic policies.

He believes that China’s continuous efforts in deepening reform and opening up will make the GBA a “fertile ground” for future cooperation between China and Germany.