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The semi annual report of European multinational companies was released, and the Chinese market beca

Date:2021-08-20  Hits:68
From the automotive market to the field of daily consumer goods, European multinationals continued to achieve good performance in the Chinese market in the first half of this year, helping their global revenue increase significantly year-on-year. According to the insiders, China's market and demand have been rapidly recovered, and the enterprises have resumed their work smoothly because of China's successful control of COVID-19 and the strong resilience of China's economy. To this end, European multinationals' confidence and willingness to invest in the Chinese market continue to increase.

China's market performance is eye-catching

In the first half of this year, the sales volume of European automobile manufacturers in the Chinese market generally increased significantly. The global revenue of German carmaker BMW increased by 28.1% year-on-year to 55.36 billion euros. In the first half of the year, the Chinese market contributed about 467000 gratifying sales to BMW, a year-on-year increase of 42%.

According to the report card released by Mercedes Benz, about 442000 new cars were delivered to Chinese customers in the first half of the year, and the sales performance was also quite bright.

Jaguar Land Rover, a British carmaker, also achieved good results in the Chinese market. In the first half of the year, it sold 55000 vehicles in China, a year-on-year increase of 52%; As of June, it had achieved year-on-year growth for 10 consecutive months. Pan Qing, global director of Jaguar Land Rover, President and CEO of China, said that the continuous growth in the first half of this year further proves that the Chinese market is irreplacable.

BASF, a German chemical giant that has been deeply involved in the Chinese market for many years, had a global revenue of 19.75 billion euros in the second quarter, a year-on-year increase of 56%. Martin brudmuller, chairman of BASF's executive board, said that in Greater China, BASF has achieved double-digit growth in the past five quarters.

European multinationals have also made brilliant achievements in the field of consumer goods in China. The first half of the French beauty giant L'OREAL group reported that the Chinese mainland market contributed 34.2% growth to the group and continued to play its main engine of growth.

Adidas, a German sports brand, is deeply loved by Chinese consumers. In the first half of the year, it achieved a revenue of 2.4 billion euros in China, a year-on-year increase of 36.9%.

From the trade data, the economic and trade exchanges between China and the EU are becoming closer and closer. According to the data released by the General Administration of customs, in the first seven months of this year, China's import and export volume to the EU was 2.96 trillion yuan, a year-on-year increase of 23.4%.

Increased market confidence and investment willingness

China's huge market demand potential and perfect industrial infrastructure have boosted the strong performance of European multinationals in China, continuously enhanced their confidence in achieving sustainable income growth, and also enhanced their willingness to continue to invest in China.

According to the business confidence survey 2021 released by the European Chamber of Commerce in China, the Chinese market has become an important pillar of the global business of many EU multinational enterprises. 68% of EU enterprises in China are optimistic about business growth, an increase of 20 percentage points year-on-year; 60% of the respondents said they were considering expanding their business in China in 2021, an increase of 8 percentage points over last year.

Fabrice megarbana, President of L'Oreal North Asia and CEO of China (Chinese Name: Fabry), said in an interview with Xinhua News Agency: "nothing can change the key position of the Chinese market in L'Oreal's global strategy as an important growth engine of the group, The Chinese market has become L'Oreal's global innovation center and the home for the development of future core competitiveness. "

In May this year, BASF officially signed a contract with Ningbo Shanshan Co., Ltd. and agreed to jointly establish a joint venture in China to produce lithium battery cathode materials. Hans Ulrich Engel, chief financial officer of BASF, said that by establishing a joint venture in China, BASF will further consolidate its position in Asia and build a complete and unique global supply chain for Chinese and global customers.

With the strengthening of economic and trade cooperation between China and Europe, China's strong and huge market demand has attracted more and more European multinational companies to explore the Chinese market or invest in China. Point the day and await for it, Chinese mainland is already the second largest market of L'OREAL, and we believe that Chinese mainland will become the world's largest market of L'OREAL. Xinhua News Agency reporter: Chen Wenxian (participating reporters: Xu Yongchun, Shen Zhonghao, Zuo Wei, Liu Min, sun Xiaoling)
 
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