let’s talk about new opportunities in china’s economy｜exclusive interview: “china is the incubation center of future industries” - interview with hermann simon, the “father of the hidden champion” of germany
2024-10-02
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xinhua news agency, berlin, september 30exclusive interview: "china is the incubation center of future industries" - interview with hermann simon, the "father of hidden champions" in germany
xinhua news agency reporter li hanlin
in bonn, germany, the famous german management scholar hermann simon accepted an exclusive interview with a reporter from xinhua news agency (photo taken on august 27). photo by xinhua news agency reporter yuan henry
"in the first half of 2024, german investment in china hit a new record high, continuing the momentum of record-breaking german investment in china in 2023." hermann simon, a famous german management scholar known as the "father of hidden champions", recently in an exclusive interview with a reporter from xinhua news agency, he said that china has become the most important market for german "hidden champion" companies, and he is full of confidence in the future of china's economy.
this year marks the tenth anniversary of the establishment of the all-round strategic partnership between china and germany. in simon's view, sino-german economic and trade relations continue to deepen, and cooperation between enterprises of the two countries occupies a dominant position. through mutual learning, the two sides have shown great potential to achieve win-win results.
in recent years, some eu officials have misrepresented the industrial division of labor between china and the eu based on market rules as so-called "dependence on china", thereby promoting "risk-reduction" policies towards china. simon said that german companies continue to increase their investment in china, and the fundamental driving force for corporate decision-making is market rules rather than human intervention.
"entrepreneurs make decisions based on the assessment of factors such as the market and cost, and diversified development is one of the important considerations." simon said, "the chinese market is crucial to german companies and has great attraction, so these companies continue to expand in china." increase investment.”
in bonn, germany, the famous german management scholar hermann simon accepted an exclusive interview with a reporter from xinhua news agency (photo taken on august 27). photo by xinhua news agency reporter yuan henry
the concept of "hidden champions" was first proposed by simon, which usually refers to small and medium-sized enterprises that are global leaders in a certain segment or industry but are not well known to the public. simon believes that "hidden champion" companies continue to pursue market leadership through focused and in-depth strategies, as well as continued internationalization and innovation. to a certain extent, the “hidden champion” coincides with china’s specialized “little giant”.
the growth path of china’s “hidden champion” is also the path to high-quality economic development. simon believes that chinese companies have performed well in innovation and are leading in many fields. he said: "to me, patents are an important indicator of future industrial competitiveness. china has become the global leader in international patent applications."
simon pointed out that in the high-tech field, many german "hidden champion" companies have set up r&d centers and artificial intelligence centers in china because they believe that china has better conditions for developing artificial intelligence products and processes. china is being used by many german companies. enterprises are regarded as incubation capability centers for future industries.
"now, german companies no longer only export products from their own country, but directly establish production facilities in china to achieve localized production. chinese companies have also adopted similar strategies." simon believes that this reflects important changes in the global value chain. china enterprises should actively adapt to and grasp this trend.
simon believes that the chinese market has huge potential. at the same time, the number of china’s “hidden champion” companies is growing rapidly. these global market leaders, driven by entrepreneurship and the pursuit of excellence, will drive china's future economic growth.
source: xinhuanet
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