German automakers to continue investment in China

Edited and translated by People's Daily Online

The two pieces of news have attracted great attention of the German automobile industry recently. German automaker Audi sold more vehicles in China than in Germany last year for the first time. Complete vehicle production has been removed from the list of industries that the Chinese government encourages foreign companies to invest in, according to China's new Foreign Direct Investment Industry Guidelines.

The German Association of the Automotive Industry and certain experts told the People’s Daily that the Chinese market is a source of business opportunities for German automakers, and is serving as a stabilizer for the European economy, which is plagued by the debt crisis. In 2012, China will continue to promote global economic stability, and German automakers will continue to invest in China.

Audi sells more vehicles in China than in Germany for first time

According to sales data from Audi, the company sold 313,000 vehicles in China in 2011, up 37 percent from the previous year, marking the first time that it sold more vehicles in China than in Germany.

The chairman of the German Association of the Automotive Industry Matthias Wissmann told the People's Daily on Jan. 6 that the sales volumes of all the German auto manufacturers in China realized double-digit growth in 2011.

He believes that China's economic growth rate will slow down but still maintain a strong momentum, and therefore, China's automobile market will still have a huge potential.

A professor from the Free University of Berlin said the high manufacturing technologies are an important reason for Germany to quickly recover from the international financial crisis.

Audi’s success in China indicates that China is catching up rapidly in the area of engineering technologies, leading to a huge demand for engineering technologies. It will be win-win situation.