Trumpf Group signed a deal with the High-Tech Zone of Taicang, a county-level city in Suzhou, East China's Jiangsu province, on Sept 24, agreeing to establish the group's Asia-Pacific headquarters and carry out a laser generator research project in the county-level city.

Shen Mi, Party secretary of Taicang, met with Stephan Mayer, president of Trumpf Group China, before signing the deal.

Shen briefed the delegation on the development of Taicang and said that over 340 German-funded companies have been experiencing robust growth in Taicang in recent years.

Shanghai and Taicang will enjoy even stronger ties after the high-speed railway connecting the two cities is complete. Stronger ties will benefit Taicang, Shen added.

Shen also said that Taicang will act in its usual manner to optimize its business environment and provide better services for foreign companies.

Mayer said that China is one of the most important markets for Trumpf and thanked the local government of Taicang for its assistance during the COVID-19 outbreak.

Trumpf Group, which was founded in 1923, is a world leader in machine tools, laser technology, and electronics for industrial applications.

Trumpf China is a subsidiary of Trumpf Group, and in 2019, it generated 1.18 billion yuan in output. During the signing ceremony, Trumpf Group turned its its subsidiary in Taicang into its Asian headquarters.