German "hidden champions" eager to foster cooperation in China

German "hidden champions" are showing greater confidence in the Chinese market, saying they are eager to develop cooperation ties with their Chinese partners.

At an investment promotion event held last Wednesday in Nanjing City of east China's Jiangsu Province, over 30 German "hidden champion" companies of automotive components, precision instruments and biotechnology engaged in discussions on technological innovation and industrial cooperation with over 70 outstanding firms among the small and medium-sized Chinese enterprises that use specialized and sophisticated technologies to produce novel and unique products in China, known as the "little giants."

Data show that in the first two months of this year, German investment in China surged by 54.7 percent year on year.

"Eight thousand German companies are in China. More than 50 percent are German companies worldwide, hidden champions companies, and [among] all these companies, 80 percent invested in China," said Savas Tumis, general manager of the Tumis Industrial Management Consulting Co. Ltd. (Shanghai).

During visit on the sidelines of the event last Wednesday and Thursday, the participating German companies showed keen interest in new patents and products of Chinese enterprises. They visited a bullet train manufacturing plant, a biomedical company and a medical technology company, seeking new opportunities for China-German collaboration.

"The Chinese development made a great impression on me. I think here is a very good atmosphere to realize things to the market," said Klaus Benecke, general manager of Benecke System.

"Here in China, in each city, they are so diverse with all these companies, [so] that the supply chain is very short, [so] that you can produce a product and you have very short way and make the product cheaper and faster," said Helmut Heuser, general manager of Wurth Electronic (Shenyang) Co., Ltd.

For China's "little giants," collaborating with German "hidden champions" amid the emergence of new opportunities in the global industry wave has become a focal point to empower each other, expand markets and enhance international cooperation.

"Through this event, we can gain a better understanding of German 'hidden champions.' Meanwhile, we hope that participating in the activity will help us identify good partners for collaboration," said Liu Qingquan, deputy general manager of Chongqing CTL Measurement and Control Technology Co., Ltd.

"Next, we aim to gain more opportunities to leverage our existing sales network to further promote these products internationally, allowing our newly developed products and technologies to go global, and enabling us to engage in collaborations with more overseas enterprises," said Wang Zhenyu, general manager of Wuxi IMV Industry Control Equipment Co., Ltd.

German "hidden champions" eager to foster cooperation in China

Chinese Vice Premier Ding Xuexiang called on Wednesday for greater efforts to increase employment and entrepreneurship opportunities for college graduates and young people in a bid to keep the country's youth employment at a stable level.

Ding, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks at a teleconference on youth employment and entrepreneurship.

Ding urged authorities to treat youth employment as a top priority, calling it a crucial matter that affects millions of households.

All-out efforts should be made to increase high-quality job opportunities by tapping into key fields and industries, while fostering new employment growth points through industrial upgrades, Ding said.

The vice premier called for rolling out more favorable policies to support graduates who are willing to start up businesses.

Ding also called for improved career services for graduates, and greater support for struggling jobseekers to ease their transition from campus to workplace.

Chinese vice premier calls for better employment opportunities for college graduates