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Guangzhou sights cooperation with Munich
Host city of Guangzhou held a promotion seminar in Munich, Germany, on June 12, to woo enterprises from the European city to attend the 2017 Fortune Global Forum.

Updated:1497325310Source:Chinadaily.com.cn

Host city of Guangzhou held a promotion seminar in Munich, Germany, on June 12, to woo enterprises from the European city to attend the 2017 Fortune Global Forum.

It's the 10th stop of its global roadshow and the second in Europe following Paris on Jan 20.

Munich is famed as industrial and commercial center in Germany and Europe, which is home to a large number of global heavyweights, including automaker BMW, global electric products giant Siemens, and international financial services provider Allianz.

Deputy mayor of Guangzhou Cai Chaolin delivers a speech at the promotion seminar held in Munich, Germany, on June 12, to invite enterprises from the European city to attend the 2017 Fortune Global Forum. [Photo provided to chinadaily.com.cn]

The Guangzhou Development District has now developed three large industrial clusters ­­– new-generation information technology, high-end chemicals and auto and auto-parts, which, in combination, have laid a solid foundation for Guangzhou-Munich cooperation.

Guangzhou expects to join hands with Munich to further explore cooperation opportunities and promote bilateral investment and trade, according to the organizer of Guangzhou municipal commission of commerce.

Cai Chaolin, deputy mayor of Guangzhou, the host city of the 2017 Fortune Global Forum gives an interview during the roadshow in Munich, Germany, on June 12. [Photo provided to chinadaily.com.cn]

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 (.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 0 million.

Guangzhou Risong Technology and Rexroth (Bosch Group) co-develop intelligent equipment for manufacturing electronic products, such as computers, cellphones and consumer electronics. [Photo/southcn.com]

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.

Editor:Joanna You
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