German investment shows confidence in China

Foreign companies' unshaken confidence in China can be reflected by their expanded investment in Taicang, a county-level city in Suzhou, Jiangsu province, which is known for the cluster of small and mediumsized German enterprises.

In late July, Schaeffler AG inked a cooperation agreement with Taicang High-Tech Development Zone, under which the German rolling element bearings and auto parts provider will build a project for new energy vehicles' key parts and aviation bearings in the zone.

With a total investment of $300 million, the new facility is another step forward for Schaeffler since it set its first footprints in Taicang in 1995. Over time, the German company has built six factories, one mold-manufacturing facility, one special equipment production unit, one German-style dual-system training center and one comprehensive center here, with the total headcount exceeding 7,000.