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Taicang, home of German enterprises in China

(Chinadaily.com.cn)
Updated: 2008-11-27 09:56

Wang Chao (R), assistant to minister of commerce, presents the China-Germany Enterprise Coopeation Base plaque to Taicang Mayor Xie Ming at a ceremony in Taicang, Jiangsu Province on Monday.

Taicang, a coastal city and economic powerhouse in Jiangsu Province, was named "China-Germany Enterprises Cooperation Base" by the Ministry of Commerce on Monday.

This is the first enterprise cooperation base in China under the name of two countries.

Taicang has become one of the fast-growing cities in the Yangtze Delta ever since the opening-up in 1978. It is among the top 10 cities in China evaluated by comprehensive economic strength.

As a port city and a city near to Shanghai, Taicang attracted an increasing amount of foreign investment in recent years, especially investment from Germany.

Since the first German company Kern-Libers set its foot in Taicang in 1993, more than 120 German companies followed suit, such as Fischer, Siemens and Bayer.

With the growing number of German companies, the amount of foreign investment has increased from $300,000 to over $1 billion, and the annual output soared to more than 10 billion yuan. Three industry clusters have gradually formed – precision mechanics processing, auto parts and new building materials manufacturing.

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