City loses allure for Germans
By Wang Yanlin |
October 1, 2011, Saturday
|
Print Edition
Print Edition
MOST German companies in China plan to increase their investment in the country through 2015, but Shanghai is slipping down the rankings as the most preferred city for German investment, a survey showed yesterday.
About 77 percent of respondents said they will raise investment in China through 2015, including 59 percent who said their input may rise more than 16 percent from 2010 levels, the Business Confidence Survey 2011 showed.
The survey, conducted by the German Chamber of Commerce in China, was based on opinions solicited from 188 German companies.
"Better performance in the past year and huge market potential trigger German companies to raise investment in China," said Titus von dem Bongart, board chairman of the chamber in Shanghai.
"China is one of the top three priority destinations for new German investment, and many are optimistic about their outlook in China."
The survey showed nearly 50 percent of respondents anticipate annual growth of more than 11 percent over the next five years, while another 40 percent estimate growth to move between 6 percent and 10 percent.
However, Shanghai seems to be losing its appeal for German investors. It is listed as the sixth-most preferred city, behind Beijing, Guangzhou in Guangdong Province, Chengdu in Sichuan Province, Xi'an in Shaanxi Province and Wuhan in Hubei Province.
"The new emphasis on exploring second-tier cities may explain the lower ranking of Shanghai," Bongart said. "Rising labor costs in big cities also drive many German manufacturers move into central and west China," he added.
Some 1,600 German companies has their headquarters in Shanghai, a third of the total in China.
About 77 percent of respondents said they will raise investment in China through 2015, including 59 percent who said their input may rise more than 16 percent from 2010 levels, the Business Confidence Survey 2011 showed.
The survey, conducted by the German Chamber of Commerce in China, was based on opinions solicited from 188 German companies.
"Better performance in the past year and huge market potential trigger German companies to raise investment in China," said Titus von dem Bongart, board chairman of the chamber in Shanghai.
"China is one of the top three priority destinations for new German investment, and many are optimistic about their outlook in China."
The survey showed nearly 50 percent of respondents anticipate annual growth of more than 11 percent over the next five years, while another 40 percent estimate growth to move between 6 percent and 10 percent.
However, Shanghai seems to be losing its appeal for German investors. It is listed as the sixth-most preferred city, behind Beijing, Guangzhou in Guangdong Province, Chengdu in Sichuan Province, Xi'an in Shaanxi Province and Wuhan in Hubei Province.
"The new emphasis on exploring second-tier cities may explain the lower ranking of Shanghai," Bongart said. "Rising labor costs in big cities also drive many German manufacturers move into central and west China," he added.
Some 1,600 German companies has their headquarters in Shanghai, a third of the total in China.
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