A new China-Germany business cooperation zone in East China's Jiangsu Province is expected to be home to 100 German enterprises by 2020, local authorities said on Sunday.
The government of Kunshan City said that the number of European and American companies in the zone will reach 200 (including German companies) with an annual output of 30 billion yuan ($4.5 billion) by then.
The China-Germany (Kunshan) Small and Medium-sized Enterprises (SME) Cooperation Zone was approved by the Ministry of Industry and Information Technology in May.
In neighboring Taicang City, an increasing number of German companies have come to the city since German companies started settling there in 1993. They cover a wide range of fields, including high-end equipment manufacturing, auto parts and services.
There are now more than 280 German companies in Taicang with an annual output value of more than 40 billion yuan, according to Shen Mi, Party chief of the city. Around 20 new companies from Germany have come to the city every year.
