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China was top investor in Germany last year: agency


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China was top investor in Germany last year: agency

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China was the top foreign investor in Germany in 2011, ahead of the United States, Switzerland and France, the government development agency Germany Trade & Invest said on Thursday.

China invested in 158 projects, while the US invested in 110, Switzerland in 91 and France in 53, GTAI said in a statement.

Nevertheless, Europe accounted for around half of total foreign investment in Germany, the agency added.
One in five investment projects -- the majority of which involved the setting up of new sites in Germany -- was in the mechanical engineering or automotive sectors and 13 percent were in new technologies, while renewable energy accounted for around six percent of projects.

Earlier this week, Chinese automotive supplier Heibei Lingyun Industrial Group Corporation agreed to buy Kiekert, a German maker of latch systems for cars.

And in January, Chinese construction equipment giant Sany Heavy Industry acquired Putzmeister, a German family-owned engineering firm, in what was described as one of the biggest deals in the so-called "Mittelstand" sector that makes up the backbone of the German economy.


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