(Photo provided to Xinhua Daily)

The Jiangsu-Germany Dialogue 2023 opened in Changzhou City on September 12, aiming to foster exchange and cooperation in trade, new energy, digital economy, innovation platforms, and other sectors.

The event was jointly hosted by the Foreign Affairs Office of Jiangsu Provincial People's Government, the Changzhou Municipal People's Government, the China-Germany Friendship Association, and AHK Greater China.

In recent years, Changzhou has emerged as a prime investment destination for German companies, including Siemens, ThyssenKrupp, Bosch, Volkswagen and Lanxess. The investment has fueled the growth of the Sino-German (Changzhou) Innovation Industrial Park and the German-invested enterprise hub in the Wujin National Hi-tech Industrial Zone.

As of the end of last year, Changzhou hosted 247 German-funded enterprises with foreign capital registered under agreement totaling $1.74 billion. These companies primarily operate in automotive electronics, machinery and equipment manufacturing, new materials, new energy and environmental protection.

At the same time, Germany is also an important foreign investment destination for Changzhou companies. The city’s 52 projects in Germany involve a total agreed investment of $795 million, the highest level of Changzhou's investment in Europe.

Changzhou has essentially established a complete ecosystem for the new energy industry, encompassing electricity generation, energy storage and application. The city is home to several unicorn enterprises, including Trina Solar, CALB and SVOLT.

The meeting also saw the launch of an entrepreneurial alliance and agreements for 11 joint venture projects with a total investment of 256 million euros.

Nearly 60 companies, including Kuehne + Nagel, BSH Home Appliances, Freudenberg, and SENEC GmbH, participated in the Sino-German enterprise matchmaking meeting. Meanwhile, the event also featured cultural exchange activities, such as a German beer carnival.