Germany sees surge in FDI projects from China: report-Xinhua

Germany sees surge in FDI projects from China: report

Source: Xinhua

Editor: huaxia

2024-05-16 00:48:30

BERLIN, May 15 (Xinhua) -- Germany saw a surge in foreign direct investment (FDI) projects from China in 2023, according to the latest FDI report by the Germany Trade & Invest (GTAI), released on Tuesday.

The report revealed a 42-percent year-on-year increase to 200 projects, marking a new high since 2017. Investments by Chinese companies in Germany's renewable energy sector increased substantially, constituting one-fifth of their total FDI projects and tripling their numbers from 2022.

"China has long been one of Germany's most important sources of foreign investment," said Thomas Bozoyan, the report's author, emphasizing its significance over the years and adding that the increasing global engagement of Chinese firms has benefited Germany's economy.

Robert Hermann, the agency's general manager, underscored the significance of eight most substantial FDI projects in Germany, totaling 28 billion euros (30.42 billion U.S. dollars). He described these projects as evidence of international companies' confidence in Germany as an investment destination.

Despite a slight dip in the total number of new FDI projects to just under 1,800 last year, the report highlighted a substantial 37.5-percent increase in volume, reaching a record 34.8 billion euros. (1 euro = 1.08 U.S. dollar)