European companies to expand Chinese business operations
Many European companies in China that emphasised global collaboration are deciding to further tap into the Chinese market and expand their investment in the country in spite of repeated US attempts to build an European alliance against China.
Beijing: Many European companies in China that emphasised global collaboration are deciding to further tap into the Chinese market and expand their investment in the country in spite of repeated US attempts to build an European alliance against China.
European company representatives said that their businesses will not succumb to US pressure or play the US' political game. Representatives of several German companies in Taicang, Suzhou, East China's Jiangsu Province - dubbed the Chinese town for German enterprises - told the Global Times they would not follow American companies to move their production out of the Chinese mainland, and instead would strengthen their business partnership with Chinese counterparts as they highly value China's huge market and promising economy.
Emin Guemues, Division Manager of Kern-Liebers Taicang company, the first German company established in Taicang in 1993, said what the US is doing in Europe is stupid, as European companies, especially German companies will not listen to the Trump administration.
"As an automotive company, we value markets and China has a huge automobile market compared with the US and Europe. China produces around 25 million cars each year, while Europe only produces 5 million," he said.
The company supplies to global automotive, textile and consumer goods industries and it is building a new factory in Taicang as part of its long-term development strategy for the next 10 years. He said German companies will not move out of Chinese market, as the huge Chinese market offers jobs amid economic downturn in Europe.