$12.56 bil­lion

China Daily (Hong Kong) - - XI'S VISIT -

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.

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