Guangzhou sights cooperation with Munich

The promotion drew leaders from leading German companies, such as Marc Wawerla, chief operating officer of Zeiss Vision Care division, Martin Devid, vice-president of Herrenknecht Trust, and Andreas Kunze, founder and chief executive officer of Konux.

The event will serve as a platform for Guangzhou-Germany businesses to exchange their ideas ahead of the Fortune Forum that is to be held in Guangdong capital from Dec 6 to 8.

Germany is the largest European trading partner and an important investor in Guangzhou. Recent years have seen a robust growth in Guangzhou-Germany business exchanges.

In 2016, bilateral cargo trade totaled 28.3 billion yuan ($4.28 billion), topping other countries in Europe and marking a 7.5 percent increase year-on-year. Guangzhou exports to Germany have reached 12.3 billion yuan, a 10 percent increase compared with the same period last year, while German exports to Guangzhou totaled 16 billion yuan, up 5.6 percent year-on-year.

The momentum has remained strong in the first quarter of this year, during which bilateral trade volume reached 9.45 billion yuan, a 62.5 percent increase year-on-year. Guangzhou exports to Germany totaled 3.93 billion yuan, up 45.6 percent year-on-year, while German exports to Guangzhou totaled 5.52 billion yuan, up 77.1 percent year-on-year.

As of March this year, 144 Guangzhou companies have received investment from Germany, with actual foreign capital of $220 million.

Guangzhou is stepping up efforts to boost the development of strategic emerging industries and technology, in which advanced manufacturing industries of automobile, electronics and intelligent equipment account for 62 percent of the city's total manufacturing industry.

In 2016, the city produced 2,287 industrial robots, a 31.7 percent rise year-on-year, bringing the industrial output of smart equipment and robotics to around 49 billion yuan last year, according to official statistics.

Guangzhou sights the strength of industrial technologies in Europe and aims to collaborate in a new generation of technological revolution and industry 4.0 production.