Latest News:  
Beijing   Overcast    28 / 17   City Forecast

Home>>China Business

Foreign firms bullish about economy

By He Wei (China Daily)

13:22, May 07, 2012

A woman demonstrating a heat-resistant material at a building materials fair in Shenyang, capital of Liaoning province. Many foreign companies are still bullish about China's property market and have continued to invest in both real estate and building materials. [Photo/China Daily]

Germany has always been the cornerstone of the European economy but Europe is not as important to Germany as it used to be.

For the first time China has become German companies' top foreign investment destination, totaling $1.36 billion by the end of last year, according to a survey by the Association of German Chambers of Industry and Commerce. The amount was more than the combined German investment in France, Spain and Italy.

The profound shift is visible in the case of Knauf Gips KG, a German-headquartered plasterboard manufacturer.

When asked what helped turn the family-owned workshop into the world's second-largest gypsum board maker, Mark Norris, the company's China chief executive officer, said one particular factor stands out - China.

After its entry into the Chinese market in the 1990s, Knauf built three plants in Beijing, Shanghai and Guangzhou. The initial investment soon gave Knauf a solid foothold in the country's dry-wall market.

Norris said he was quite bullish about the future and remained committed to continuing investment, despite decelerating economic growth in China, compounded by the European crisis and stagnation in the United States.

"In relative terms, China remains a dynamic growth engine compared with places like Spain and Greece, where there is absolutely no growth," he said.

"And people seem to forget that the market is so big, the demand for good quality is there.

"As we noticed over the past five years, a mid-to-upper class has emerged and the quality of life is increasing. People are prepared to pay for green building materials. Even though it's not comparable to the European or US standard, it is catching up quick."


【1】 【2】 【3】 【4】 【5】 【6】 【7】 【8】

Email|Print|Comments(Editor:厉振羽)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. China launches Tianhui I-02 mapping satellite

  2. Tainted capsules, tarnished image

  3. A celebration of all the tea in China

  4. Chinese dance performed in Istanbul

Most Popular

Opinions

  1. A neutral US helpful to stability in S China Sea
  2. Tourism authority warns of low-cost package tours
  3. Have you felt anxious recently?
  4. Central bank's rise comes at economy’s expense
  5. How to deal with 70,000 boxes of defective Coke?
  6. Foreign airlines optimistic about Chinese market
  7. Stagflation poses real threat to economic growth
  8. EU commissioner looks to increase investment
  9. China's young generation not 'beat generation'
  10. New dynamic for China-EU ties

What's happening in China

Sustained drought affects Baise of Guangxi

  1. Hot summer may break short spring record
  2. 'Cancer village' publicity a double-edged sword
  3. Rule-breaking wedding cars draw complaints
  4. Cultural development plan revised
  5. Vegetable prices continue to mount

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai