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People's Daily Online>>China Business

Sino-German eco-park attracting investment

By Ding Qingfen  (China Daily)

10:51, December 07, 2011

Chinese entrepreneurs talk with a representative of the European Union Chamber of Commerce in Nanjing, Jiangsu province. Xiao En / For China Daily

QINGDAO, Shandong - Despite a slowdown in the pace of investment growth from the European Union (EU) and the trading bloc's debt woes, China's appeal remains strong and EU investment, especially in the new-energy sector, will surge, according to the Ministry of Commerce.

"There is no other nation that's more attractive than China as an investment destination for European businesses," said Su Jing, deputy director-general of the department of foreign investment administration at the ministry, speaking at the foundation ceremony for a Sino-German eco-park in Qingdao in Shandong province.

The park, covering 10 square kilometers (sq km), is the first venture of its kind between the two nations. It's designed to help China attract German investment in sectors such as renewable energy, energy reduction and environmental protection.

"At promotional fairs during the past few months, a large number of German businesses, and even some from further afield in Europe, expressed strong interest in participating and investing in the park, including Siemens and Bayer," said Yao Jian, Qingdao's deputy mayor and a former commerce ministry spokesman.

The park is expected to be fully operational in 10 years and, when completed, will be a world-class venue for green industry. The first phase, covering 3.5 sq km, will be developed during the next three to five years.

Meanwhile, the growth rate of EU investment in China has been slowing as a result of the continent's debt crisis. Between January and October, investment from the 27 EU nations totaled $5.51 billion, an increase of 1.05 percent from a year earlier. Conversely, Chinese foreign direct investment (FDI) surged by 15.86 percent year-on-year to $95 billion.

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