The 2023 Beijing China-Germany Forum for Industrial Cooperation and Development was successfully held in Beijing on Nov 22, with representatives from the government, business associations and German enterprises attending the event.

The Beijing China-Germany Industrial Park has played a prominent role in boosting Sino-Germany industrial cooperation in terms of business system reform and intellectual property protection since it was approved in 2021, said Yuan Feng, director of the International Cooperation Center of the National Development and Reform Commission at the opening ceremony of the forum.

Focusing on new energy intelligent vehicles, intelligent equipment and digital economy, the industrial park serves advanced manufacturing industry.

More than 100 German enterprises have set up branches at the industrial park, with the park's annual industrial output reaching 35 billion yuan ($4.9 billion), said Zhou Jinghui, director of Shunyi District Bureau of Economy and Information Technology of Beijing Municipality and director of management committee of Beijing China-Germany International Cooperation Industrial Park, in an interview with China Daily Website.

The park aims to attract more than 150 German companies, including more than 30 hidden champion enterprises, by the end of 2025, and take the annual industrial output to over 50 billion yuan.

The forum also saw the release of China-Germany Industrial Cooperation Development Report, which provides key reference value for Sino-German economic and technological cooperation.

Twenty-seven representatives of business associations and well-known German companies participated in a symposium during the forum to discuss the development and challenges faced by German companies in China.

In addition, the forum also held a special exhibition of hidden champion companies, showcasing products and services related to new energy intelligent vehicles, intelligent equipment and digital economy.

"Wilo is very confident about the Chinese economy and we have a long-term commitment to the Chinese market and will enlarge our investment in China," said Grant Rong, director of government and public affairs at Wilo China Ltd, in an exclusive interview with China Daily Website.

With more than 150 years of history, Wilo, a hidden champion company focusing on water pump manufacturing, entered China in 1995 with two factories in Beijing and Changzhou, Jiangsu province.

"The company is very encouraged by China's resolution to continue to open up and we have seen that the business environment of China has kept improving," he added.