Hamburg already boasts more than 500 Chinese companies

Shi Mingde, Ambassador of the People’s Republic of China in Germany, recognised long-established relations

Hamburg already boasts more than 500 Chinese companies

Hamburg reports a new record as China’s hub in Europe; More than 500 Chinese companies are now listed in Hamburg’s commercial register, with figures rising. The result of a recent enterprise census conducted jointly by the Hamburg Chamber of Commerce and the GIGA Institute for Asian Studies was presented by the chamber’s CEO Prof. Hans-Jörg Schmidt-Trenz in the course of the traditional Beijing duck dinner hosted by the Chinese-German Society for some 100 guests at Hamburg’s Park Hyatt Hotel. "We are happy to have surpassed the 500 mark. The intense commitment of the Hamburg Chamber of Commerce, the Hamburg Business Development Corporation and the Hamburg Senate in relations to China is now paying off. Among the German states, Hamburg is the one to boast the longest-standing activities in China, and has constantly adopted its China strategy to meet the demands of Chinese companies."

Dietrich von Albedyll, CEO of the Hamburg Business Development Corporation, said: "To ensure the future growth of Hamburg as China’s hub, we will increase our activities in Northern China. In addition, we will boost our efforts in promoting Hamburg as logistics hub of particular attraction to Chinese companies in Eastern Europe and the Baltic States."

Speaker at the Beijing duck dinner was Shi Mingde, Ambassador of the People’s Republic of China in Germany. He paid tribute to Hamburg’s commitment in the People’s Republic of China. "Hamburg continues to be an attractive location for China’s business community. Even though the growth of Sino-German trade has slowed down, more and more Chinese companies set up branches on the banks of the Elbe river."

Hamburg’s attempts to increase Chinese activities in the Elbe metropolis date back to the 1980s. According to a recent survey conducted by the Hamburg Chamber of Commerce, the majority of Chinese companies are located at the district of Hamburg-Mitte (inner city), followed by the district of Wandsbek. Mostly set up as a limited company according to German law (GmbH), the Chinese companies are predominately active in foreign trade, mostly between Hamburg and China, or in the services sector.

Last year, the People’s Republic of China emerged as Hamburg’s second most important partner in trade. Trade volumes between Hamburg and China amounted to 11.4 billion euro in 2012, thus representing a 2.5 per cent growth compared to 2011. With 2.6 million TEU in container handling, China is by far the most important trade partner of the Port of Hamburg, which  reported 8.9 million TEU of total container handling in 2012. According to the Hamburg Chamber of Commerce, 719 Hamburg companies maintain business ties with China, with 141 of them being present in China with a branch, a representative or a production site.