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Reference News reported on August 14 According to a report on the website of Radio France Internationale on August 14, the French newspaper Le Figaro published an article on August 13 stating that German manufacturers, especially German automakers, hope to expand production in China to defend their market share. German companies are investing more in China than ever before.

According to reports, Volkswagen of Germany announced in April that it would invest 2.5 billion euros (1 euro is about 7.86 yuan - this website note) to expand its production and innovation center in Hefei, China; BMW of Germany will invest an equal amount of money in its Shenyang plant. Le Figaro said that although Europe and China are competing on trade issues, German industrial entrepreneurs are more dependent on China than ever before. According to data from the German Central Bank, China accounted for 29% of Germany's direct investment in the automotive sector in 2023; China accounted for 13% of direct investment in the machine tool industry; and China accounted for 8% of direct investment in the chemical industry.

The trend has reportedly not abated. According to data provided to the Financial Times by the German central bank, German direct investment in China was higher in the first half of 2024 than in the whole of 2023.

Neither new geopolitical tensions nor the European Union’s efforts to limit imports from China have slowed German manufacturers. Even Berlin’s desire to reduce Beijing’s influence in its economy has not slowed them down.