was invested in Germany by Chinese companies in 2016, creating over 3,900 jobs in the country.
Bosch will contribute sensors and its Bosch Road Signature mapping service for vehicle localization. Both companies will provide technical expertise to support the drafting of legislation relating to automated driving in China.
“Investment in technologybased services and trade in high-end products — such as cloud systems, smart manufacturing projects and sensors, and industrial automation goods — is set to account for an even greater proportion of bilateral business ties,” said Fang Jian, managing partner for China of global law firm Linklaters LLP.
Chinese companies pumped more than $12.56 billion into Germany last year, investing in 281 projects and creating over 3,900 jobs in the country. Such investment has started to focus more on acquiring hightech companies such as leading robotics manufacturer Kuka AG, which received a takeover offer from Chinese consumer products company Midea Group in 2016.
Joe Kaeser, chief executive officer of Siemens AG, said China is making progress on the path to becoming an advanced and competitive economy, but it will take time for these changes to have an impact. Patience and consistency will be required, as well as continuous reforms along the way, he said.