China's investment in Germany jumped to $10.8 billion
This is nearly twice the total volume of the past decade, an official with China's Ministry of Commerce said.
Chinese investors invested $5.9 billion 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 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 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. ■