(Yicai) Nov. 9 -- German companies, including chemicals giant Henkel, are putting their advanced manufacturing solutions on show during the sixth China International Import Expo to expand their networks in the Asian economy.
Henkel's adhesives can replace traditional welding and riveting processes in car manufacturing to reduce vehicle weight by up to 50 kilograms and enhance the cruising range of electric vehicles with safer performance, Yicai learned at the exhibition site in Shanghai. The Dusseldorf-based company is present at the CIIE for the fifth time this year.
This time, the German firm moved to the Intelligent Industry and Information Technology pavilion from the Consumer Goods exhibition area to meet new manufacturing partners, Rajat Agarwal, president of Henkel China, told Yicai.
Henkel has witnessed fast-growing demand in the Chinese market over the past few years. This is why the firm invested over CNY800 million (USD109.8 million) to build a new production base in the eastern province of Shandong in June and CNY500 million to expand its innovation center in Shanghai.
Besides industry giants, the CIIE attracts some small and medium-sized enterprises from the European country. For example, Wilo, which specializes in water pumps, displays the Wilo-Ice Cube, an all-in-one solution for hydronic systems, at the trade fair.
Germany invested a lot in China this year despite the tightening economic and trade environment. From January to August, Germany’s actual investment in China surged by 21 percent from a year earlier, according to the commerce ministry. Within the sum, investment in electrical machinery nearly tripled, and that in chemicals almost doubled.
More than half of the nearly 290 surveyed German companies in China plan to raise their investment in China in the next two years, up by 4 percentage points from a year earlier. Some 60 percent of them want to strengthen their cooperation with Chinese companies in decarbonization, smart manufacturing, and mobility, according to the results of a poll disclosed by the German Chamber of Commerce in China in June.
Editors: Dou Shicong, Emmi Laine