German companies increase investments to avoid missing out on development opportunities in China

ARTICLE: German companies increase investments to avoid missing out on development opportunities in China

SHOOTING TIME: Latest footage

DATE: August 25, 2024

LENGTH: 00:01:22

LOCATION: Beijing

CATEGORY: ECONOMYSHOTLIST:

1. various from Shanghai, China

2. QUOTE 1 (in English): OLE GERDAU, COO at Deutsche Bank China

3. SOUNDBITE 2 (in English): HUBERTUS TROSKA, Member of the Management Board of Mercedes-Benz Group AG

4. FRAGMENT 3 (in English): MAXIMILIAN FOERST, president and CEO, ZEISS Greater China STORY: German direct investment in China reached 7.3 billion euros (8.04 billion U.S. dollars) in the first half of the year, according to data from the Financial Times, citing the Bundesbank, the German central bank. By comparison, total investment in 2023 was 6.5 billion euros. FRAGMENT 1 (in English): OLE GERDAU, COO at Deutsche Bank China

“We are practically investing in China. We have just made significant investments in our operational capabilities in Tianjin. We have just hired five research analysts, senior research analysts, who will cover Greater China in key growth sectors such as renewables and utilities, consumer discretionary, automation and industrial. We will invest in improving our technology, which will be a key focus area for us, to better serve our local customers. We are constantly looking for new opportunities.” VOICE 2 (in English): HUBERTUS TROSKA, Member of the Board of Management of Mercedes-Benz Group AG

“Mercedes-Benz is very confident about China, both in terms of the economy and the market. It’s the largest and fastest growing market in the world (for us), and we’ve been here for many years. The relationship with China is super important. The German economy and the Chinese economy are great trading partners.” QUOTE 3 (in English): MAXIMILIAN FOERST, President and CEO, ZEISS Greater China

“I am very positive about the overall trajectory because the investments are in the right place. What we see now is that China is moving from a quantity-driven economy to a quality-driven, innovation-driven economy,” Xinhua News Agency correspondents report from Beijing.

(XH TV)