10 German projects worth 1.07 billion euros undertaken in Qingdao
The Sino-German Ecopark in the Qingdao West Coast New Area witnessed the signing of 10 project deals worth 1.07 billion euros on Nov 28. The projects involved high-end equipment, intelligent manufacturing, commodity trade, education, training and more.
A turbocharger manufacturing and research center project receiving 920 million euros in investment from Bosch Mahle Turbo Systems is one of the most notable projects. BMTS owns more than 600 patents and is an industry leader in materials technology, systems integration, and manufacturing processes. It is one of the top five turbocharging system suppliers in the world.
Ten project deals worth 1.07 billion euros are signed at the Sino-German Ecopark in the Qingdao West Coast New Area on Nov 28. [Photo provided to chinadaily.com.cn]
A Kaytrip project, funded by a foreign travel agency, is the first of its kind to be undertaken in the China (Shandong) Pilot Free Trade Zone. The project will mainly involve international travel, cross-border e-commerce, and cultural and educational exchanges.
Another project involving the construction of a research, development, and manufacturing center for intelligent livestock feeding systems received $20 million in investment. It will mainly involve intelligent feeding systems and internet of things control systems and export products to more than 10 countries and regions including Germany, Denmark, and Japan.
Government officials and company representatives from Qingdao and Germany attend the signing ceremony. [Photo provided to chinadaily.com.cn]
The Sino-German Ecopark is the first cooperation project between the Chinese and German governments and the only state-level Sino-German cooperation park in the province.
Since the beginning of this year, 17 new foreign-funded projects receiving a combined $219 million in investment have been registered in the park.
In addition, the park has attracted many renowned German companies such as Siemens and Continental AG and has established long-term cooperative partnerships with more than 10 German states and cities. It has also set up representative offices in Munich and Frankfurt.