German firms see China as top market
Print Edition
German companies still regard China as one of the top markets despite the negative impact of the country’s economic slowdown on their business, latest surveys by the German Chamber of Commerce in China and the Association of German Chambers of Commerce and Industry (DIHK) showed.
“The economic importance of China remains undisputed,” said a report based on the flash surveys done by the two German bodies to gauge the impact of the recent economic slowdown in China.
“For most German companies, China is one of the top-three markets. In Germany, one quarter of companies state this to be true while almost half of the German companies in China regard the country as one of the most important markets,” it said.
However, German companies have felt the impact of China’s current economic moderation. More than 60 percent of the survey respondents based in China said their business had been influenced negatively, while 32.4 percent in Germany reported damage to their China-related business.
But “German companies ... adjust their business objectives accordingly,” the report said in light of the slowing economy, citing the automotive and machine building sectors as being badly affected.
“But the Chinese market is still a central component for German companies to be successful in a globalized world economy,” it said.
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