Taicang in East China's Jiangsu province holds a conference to engage with German businessmen on June 1. [Photo/WeChat account: tcfbgw]

Taicang in East China's Jiangsu province has been stepping up efforts to deepen cooperation with Germany.

City authorities held a conference to engage with German businessmen on June 1, during which agreements were signed to hire talents, set up technology innovation platforms and launch projects.

From January to May, 18 German companies were set up in Taicang and three projects were offered increases in capital.

Provincial authorities have released a document to clarify the role of cooperation with Germany in the reform and opening-up and to provide policy support for Taicang.

The city welcomed 41 German-invested projects worth $70.5 million in foreign capital in 2021. Eighteen German companies invested another $129 million to expand their businesses in Taicang.

That same year, German enterprises paid taxes worth 2.32 billion yuan ($345 million), up 21.48 percent year-on-year. Their sales revenue reached 44.78 billion yuan, a year-on-year growth of 87.69 percent.

The local authorities have also implemented a series of measures to help German enterprises resume operations during the COVID-19 outbreak, including the opening of a 24-hour service hotline.

In addition, the Taicang commerce bureau has unveiled a work plan to accelerate the building of a demonstration zone that facilitates cooperation among small and medium-sized enterprises.

This year marks the 50th anniversary of the establishment of diplomatic relations between China and Germany, and Taicang is expected to use this occasion to explore new room for further cooperation with Germany.