Taicang, known as a hub for German-funded companies in China, has so far seen over 300 German-funded companies settling in the city, which have brought in investment worth over 4.5 billion dollars and generated an annual output of 7.21 billion dollars. Nearly 50 of them are hidden champions.

"Taicang offers the advantage that you can get well-trained personnel, especially in technical areas, and thus build up powerful local teams, which, of course, is one of the key factors for hidden champions in manufacturing," said Professor Simon.

He also added that "in terms of availability to suppliers as well as distribution and infrastructure, Taicang is well placed in the vicinity of Shanghai, but has lower costs than Shanghai."

Business experts, company representatives and government officials from both China and Germany have an in-depth discussion at a meeting on Oct 18. [Photo/WeChat account: tcfbgw]

Professor Hermann Simon delivers a keynote speech on hidden champions at the meeting on Oct 18. [Photo/WeChat account: tcfbgw]