Over the years, many German-owned companies have settled in the New District of Taicang, Jiangsu province. This year, these companies have maintained steady development with expanded economic scale, improved economic benefits and increased investment.

From January to July, 73 German-owned enterprises in Taicang with an annual revenue of 20 million yuan ($3.24 million) have achieved a total industrial output value of 12.04 billion yuan ($1.95 billion), generating sales revenue of 11.86 billion yuan ($1.92 billion), an increase of 28.9 percent and 28 percent, respectively. Their total profits reached 1.3 billion yuan ($210.86 million), up 42.9 percent from last year. Their energy consumption ratio per 10,000 yuan in output value generated is 0.0217 tons of standard coal, one-third of the new district’s average and 6 percent of the city’s average respectively.

This year, eight German-invested projects have been put into operation, which are expected to achieve a total output value of 1 billion yuan ($162.2 million). Nine German companies planned to increase investment worth over $62 million to expand their production capacity.

German companies' strong manufacturing industrial base, expertise and core technologies are vital to their economic success in Taicang. They are also well-known internationally for developing and applying low-carbon technologies and human-based management.

Over the past two decades, German companies have formed three industry clusters in Taicang – precision mechanics processing, auto parts manufacturing and new building materials.

Taicang will continue to strengthen cooperation with Germany, attract more skilled professionals from Germany and improve supporting services.