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Europe and China

Partners and competitors on the world market

Einleitung Fokus-Thema: Eu/ China

The perception of China in Germany and Europe has changed in recent years. Firstly, China is an important economic partner and also of significant importance for the German mechanical engineering sector. The country is the number two export market - behind the USA - for the German capital goods industry and also ranks second as a location for foreign investment. China is pursuing ambitious technological goals and wants to climb further up the innovation ladder. This could continue to create additional business opportunities for the German and European mechanical engineering sectors.

On the other hand, at the economic and political level in Germany and the European Union (EU) it has become clear that the existing imbalance with China, for example in market access, is no longer acceptable. China is no longer a developing country in many areas, including mechanical engineering. The country is already the world's largest exporter, and so Chinese suppliers are increasingly entering third markets and the EU as competitors.

In addition, the impact of China's Covid-19 policy, the associated frictions in international supply chains and increasing geopolitical tensions in the mechanical engineering sector have triggered discussions about the future strategic orientation in business with China. "De-risking" is the new buzzword, backed by resilience and diversification, among others. After completing an extensive project, the VDMA published a study on China's "Going Global" strategy in July 2024, which supports member companies in their internal discussions on the further development of international business.

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Schlaglicht 1_EU-China_12-2024

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China Going Global - Targets, measures, counterstrategies

China is increasing its export efforts in mechanical engineering

Intensifying competition

Chinese mechanical engineering is increasingly supplying foreign markets, including the European Union. The Chinese administration is supporting this trend with a variety of instruments. The development of strategic options for action – for both industry and politics – is essential.

Schlaglicht Zitat_EU-China

"China's striving for technological self-sufficiency is changing framework conditions. Machine builders must adapt to this and develop strategies to remain successful in the Chinese market in the future."

Ulrich Ackermann, Head of VDMA's Foreign Trade Department

Schlaglicht Article Teaser_EU-China

"Chinese Customers Often Have Special Requirements"

How are imports and exports from and to China developing? How can European machine builders maintain their market position in view of technological developments in China? Daniel Yoo, office manager VDMA-Shanghai, provides information.

Schlaglicht Zahl_EU-China

1094

billion euros

sales were generated by machine builders in China in 2023.

Quelle: National Bureau of Statistics of China, VDMA

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