The Website of German Federal Foreign Trade and Investment agency reported on August 25.Despite the impact of the epidemic, German papermaking equipment exports to China increased by 28% year-on-year in the first half of this year.Most of its competitors, including Finland, Italy, the US, Japan, South Korea and Switzerland, posted double-digit losses over the same period.
As Chinese machinery and equipment enterprises have greatly improved in terms of technology and quality, their dependence on imported papermaking equipment has been greatly reduced in recent years.As the most important supplier to China, Germany's export of papermaking equipment to China dropped by 60% from 270 million US dollars to 110 million US dollars in 2019.Despite the epidemic crisis, German papermaking equipment exports to China have increased against the trend, further boosting German business confidence.