Chinese investing big in Berlin

By Yao Jing (China Daily) Updated: 2014-07-07 07:08

ACCUMULATED AMOUNT OF CHINA'S DIRECT INVESTMENT IN GERMANY. SU JINGBO/CHINA DAILY

"German workers are very prudent; they pay attention not only to the outcome, but also to the process," he said.

Greatview opened a packaging base in Germany with an investment of 50 million euros ($68 million) in 2011 and added an investment of 33 million euros on a second production line in 2013.

Meng Fanzhuang, minister counselor for commerce at the Chinese embassy in Germany.

However, for newcomers to the country, Meng cautioned that there are always difficulties. He suggested companies fully assess the risks and integrate the investment operation with the company's overall overseas strategy.

It is also noteworthy that Germany provides preferential policies for companies doing business in eastern Germany and other less-developed areas. Investors can benefit from subsidies through communication with local government, he said.

"I also suggest Chinese companies hire local consultants or law firms because German laws and the taxation system are very complicated and can be a major challenge," Meng said.

Meanwhile, German direct investment in China, particularly automation, digitalization and environmental protection, has also been booming in recent years.

More than 8,200 German companies have invested an accumulated $20 billion in China, according to the embassy.

Zhu Zhe contributed to this story.