The Localization Development Roundtable of Sino-German Multinational Corporations in Qingdao serves as a platform for enhancing partnerships between Shandong and German companies. [Photo provided to chinadaily.com.cn]

The Localization Development Roundtable of Sino-German Multinational Corporations was held on June 16 in Qingdao, East China's Shandong province, as a key parallel session of the 7th Qingdao Multinationals Summit. 

During the roundtable discussion, 17 Chinese and German companies shared insights into capacity planning, talent localization, supply chain coordination, compliance, and the green transition. Executives from 11 major German firms, including Evonik, Infineon, Heraeus, Bosch, DHL, Hella, TÜV Rheinland, CLAAS, and Knorr-Bremse, expressed their commitment to deepening local operations in China, citing the country's complete industrial chains, vast consumer market, and steadily improving business environment. Six Chinese companies, including Hisense, Haier Smart Home, and Qingdao TGOOD, discussed the opportunities and challenges presented by the German market.

To date, Qingdao has established over 450 German-invested projects, with Germany being the city's largest trading partner and source of foreign investment in Europe.The forum is expected to further facilitate bilateral cooperation and help Shandong companies integrate into global industry value and supply chains.

The forum was organized by NRW.Global Business and co-hosted by the China-Europe Business Council, Qingdao's commerce and foreign affairs offices, and the Qingdao Sino-German Ecopark. It brought together government officials and business leaders from both countries to discuss topics such as German enterprises' expansion in China, Chinese companies' investments in Germany, compliance management, and ESG practices.