|China's investment in Germany surges in H1
Chinese investment in Germany jumped to 10.8 billion U.S. dollars in the first half of this year, nearly twice the total volume of the past decade, an official with China's Ministry of Commerce said Monday.
Chinese investors invested 5.9 billion U.S. dollars in Germany from 2005 to 2015, said Yi Yang, deputy director of the ministry's Investment Promotion Agency, during the 2016 China-Germany Investment and M&A Forum in east China's Kunshan City, Jiangsu Province.
Germany is China's largest trade partner in Europe. Trade between the two countries exceeded 160 billion U.S. dollars last year, accounting for one third of the total volume between China and the European Union.
Germany's direct investment in China topped 40 billion U.S. dollars in 2015, with over 8,200 companies opening branches in China. In the meantime, China has expanded investment in Germany, with over 2,000 companies operating in Germany.
"From the previous one-way investment from Germany to China to today's two-way investment, it is a major upgrade in trade relations between the two countries," Yi said.