Industrial scale of Sino-German cooperation in Beijing grows to 40 bln yuan

This photo taken on April 26, 2024 shows a BMW electric vehicle displayed at the signing ceremony for deepening strategic cooperation between BMW and Shenyang, in Shenyang, northeast China’s Liaoning Province. Photographer Pan Yulong

By Xinhua News Agency

The Beijing China-Germany economic and technological cooperation demonstration zone has attracted more than 100 German enterprises, reaching an annual industrial scale of 40 billion yuan (about 5.53 billion U.S. dollars), according to a forum held in Beijing.

The China-Germany (China-Europe) Hidden Champions Forum 2024 concluded in Beijing on Tuesday, having witnessed a trend of collaborative development between Sino-German (European) hidden champions and innovative clusters of small and medium-sized enterprises (SMEs).

Hidden champions refer to highly successful yet lesser-known SMEs that are global leaders in terms of market share in their respective niches. Germany now boasts about 500 hidden champions.

Attendees at the forum said they consider economic and technological Sino-German cooperation to be a model for global cooperation. Representatives of Sino-German industrial parks located in Chinese regions such as Beijing, Taicang, Qingdao, Wuhan and Hefei signed an initiative during the event, aiming to integrate cooperation ecosystems across different regions and industries.

With a total investment of 5 billion euros (about 5.4 billion U.S. dollars), the Beijing China-Germany economic and technological cooperation demonstration zone is seen as a crucial gateway for Sino-German cooperation in Beijing.