Germany's leading home appliances makers BSH and Miele said at the ongoing IFA Berlin that they would expand investment in China where they continued to see huge opportunities and potential for their business growth.
BSH and Miele are exhibiting their newest products at the world's largest trade show for consumer electronics and home appliances, which opened on Sept. 6.
"We invested over 800 million euros (in China) over those years. In five or 10 years, one thing we for sure will not change, that China is a very important market for us, so we will continue to invest into this market under our three brands -- Gaggenau, Siemens and Bosch," said Matthias Metz, Chief Executive Officer and Chairman of the Board of Management of BSH Home Appliances Limited.
Axel Kniehl, Executive Director of Marketing and Sales of German home appliances manufacturer Miele, said Chinese consumers helped the company make right adjustments for needs of new generations.
"The Chinese consumers are always the super early adapters, much more than anyone else around the world. And so to us, that's a great challenge, but also an opportunity to learn and to understand how to adjust even earlier to the right needs of new generations and future generations. We will continue ongoing investments on the production side where we already have a factory in China, but especially also on the consumer side, so we are constantly growing by opening up also our own retail stores," said Kniehl.
BSH, Miele to expand investment in China
BSH, Miele to expand investment in China
BSH, Miele to expand investment in China
Beijing's consumer gold market has been running hot during the Mid-Autumn Festival holiday, despite recent rises in the gold price on international markets.
Last week, the main contract for gold futures on the New York Mercantile Exchange (COMEX) has risen to over 2,600 U.S. dollars per ounce.
At a gold shop in Beijing's Xicheng District, the price of pure gold jewelry went up to about 737 yuan (about 104 U.S. dollars) per gram, but many shoppers are still looking to buy gold jewelry especially during the Mid-Autumn Festival holiday and the end-of-summer wedding season.
"It is now more than 700 yuan (about 98.7 U.S. dollars) per gram, but when we were here about two months ago, it was only just above 600 yuan (about 84.6 U.S. dollars) per gram," said a customer.
"I'm getting married, so I came to have a look. Even if the price goes up, we still have to buy it," said another customer.
"I had nothing to do during the holidays, so I came here to take a look [at the gold jewelry]. I just bought a lucky charm bead and now I want to take a look at the bracelet," said another customer.
At the shop's gold investment counter, many consumers have been making inquiries about gold bars, which has long been considered a safe investment, although experts recommend caution in the rising gold market.
At the shop's gold investment counter, many consumers have been inquiring about gold bars, which have long been considered a safe investment. However, experts recommend caution in the rising gold market.
"Many investors will buy gold bars for medium- to long-term investment based on their expected price as part of their overall family asset allocation. We suggest that investors be more rational in their decisions," said Li Yang, a senior gold investment analyst.
Beijing consumer gold market remains hot despite rising prices
Beijing consumer gold market remains hot despite rising prices
