Is this China's next target? Germany | China | Goal
According to the website of Deutsche Welle Radio on August 15th, the German newspaper Business Daily reported that Chinese companies are increasingly catching up with or even surpassing their German competitors in the world market. This refers not to products with low technological content such as textiles or protective masks, but to products with complex processes and high technological content. A recent study by the German Institute of Economics has found that the share of Chinese manufacturing in imports from EU countries is increasing, especially in high-value industrial products such as machinery or automobiles.
The German newspaper "Business Daily" wrote, "In 2000, 2.5% of the EU's total imports in this field came from China, and by 2022, this proportion had reached 13%."
Workers work on the production line in the workshop of Jiangling Group New Energy Vehicle Co., Ltd. located in the Economic Development Zone of Nanchang City, Jiangxi Province. Photo by Xinhua News Agency reporter Zhou Mi
According to the report, "China is catching up in technology and its competitiveness in innovative products is becoming stronger... An example of China's export advantage in the EU market is mechanical products. In 2010, China's share of mechanical products in EU imports was 6.8%, compared to 11.4% last year."
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The report suggests that the automotive market may be China's next target. In 2000, the share of Chinese cars in EU car imports was only 0.1%, but by 2022, this proportion had reached 3.5%.