An investment promotion team from Zhangjiagang, Suzhou, East China's Jiangsu province, finished their nine-day trip to Europe on Dec 18.

The team visited seven cities and pushed ahead with projects with a total investment of $350 million.

In Germany, they first visited Mayr Power Transmission Co, a world-leading manufacturer of elevator brakes.

Members of the Mayr Power Transmission and Zhangjiagang investment promotion team pose for a photo. [Photo/WeChat account: zhangjiagangfabu365]

Ferdinand Mayr, CEO of the company, said Mayr fully acknowledged Zhangjiagang's strong business environment and will consider transferring core technologies to the factories in Zhangjiagang.

The team then went to Frankfurt to visit the European headquarters of the electronic business division of Magna Group.

Magna is a world-leading automotive parts supplier which generated sales of $36.2 billion in 2021.

The two sides have been discussing a high-end automotive electronics project, the first phase of which is expected to be launched soon.

The European general manager of Magna's electronic business division said that China was Megna's largest market in Asia, and the company will continue to develop the Chinese market.

The investment promotion team also visited the German headquarters of Joyson Safety Systems and Juchi, a consulting company in Germany.