A briefing on the investment climate for the automobile and rail transit industry in Xi'an, capital of Northwest China's Shaanxi province, was held in the city of Frankfurt in Germany on April 3.
More than 50 people from German government agencies, industrial and commercial circles and the heads of key German groups participated in the meeting.
Grunwald Torsten, president of Knorr-Bremse – the world's leading manufacturer of braking and control systems for commercial vehicles – and Hagen Ringshausen, chairman of the board of directors of ProIT Systems, made speeches as representatives of local enterprises.
The Xi'an economic and trade delegation signed a memorandum of understanding on behalf of the Xi'an municipal government for cooperation with the Knorr-Bremse.
It also gave presentations on commercial opportunities to the business representatives, focusing on the investment ecosystem at the city and district levels.
In recent years, Xi'an has continuously optimized its business conditions and improved its investment services, to create a top location for international companies to start up operations there.
Germany is the main European Union country investing in Xi'an. A total of 70 German-funded groups have been established there, mainly in manufacturing, wholesale and retail ventures, scientific research and technical services.
Moving forwards, plans are for Xi'an to strengthen its commerce and investment with German companies, centering on industrial development and opening up.
The goal is to attract more and more high-quality German companies to participate in the rapid development of the city.