The Sino-German Business Council Jiangsu liaison office is established in Taicang, a county-level city in East China's Jiangsu province. [Photo/WeChat account: tcfbgw]

The Sino-German Business Council Jiangsu liaison office was recently established in Taicang, a county-level city in East China's Jiangsu province.

The office will be set up in the city's demonstration zone for Sino-German SME cooperation, according to authorities.

This year marks the 50th anniversary of the establishment of diplomatic relations between China and Germany, and the office is expected to use this occasion to deepen cooperation with Germany in fields such as industrial supporting facilities, intelligent manufacturing, offshore trade and cross-border e-commerce.

The city has made great progress in its cooperation with Germany. From January to May, it saw an influx of $289 million in German capital, up 258.8 percent year-on-year. There are now 20 new projects in the city worth of $227 million, a year-on-year growth of 424.6 percent. Four projects were offered increases in capital, with a registered capital of $62.3 million, up 66.8 percent year-on-year.

Taicang is presently home to 433 German companies with a total investment of over $5 billion. 

More than 600 local private firms have carried out in-depth operation with German enterprises. 

The city will accelerate the building of a demonstration zone that facilitates cooperation among small and medium-sized enterprises. It will also make efforts to introduce German-invested leading projects and high-end service projects. 

Cooperation with Germany has been helpful in attracting foreign investment. From January to May, $1.1 billion in foreign capital was registered in the city, a year-on-year growth of 5.6 percent. 

There are presently 42 newly registered projects with a registered foreign capital of $680 million, up 43.8 percent year-on-year and, accounting for 62.1 percent of the total in the city.

Twenty-four projects were offered increases in capital, with the newly added registered foreign capital reaching $421 million.