German firms double down on China investment

GERMAN industrial robot-maker Hahn Automation plans to invest millions of euros in new factories in China over the next three years, keen to capitalize on an economy thatࢀ™s rebounding more rapidly than others from the COVID-19 crisis. ࢀœIf we want to grow with the Chinese market, we have to manufacture on the ground,ࢀ chief executive Frank Konrad said of the investment drive. ࢀœOur goal is to make up to 25 percent of our sales in China by 2025,ࢀ he said, up from roughly 10 percent now. Despite Germany Governmentࢀ™s efforts to diversify trade relations, German industry is deepening ties with…