German Trade With China Booms | Business| Economy and finance news from a German perspective | DW | 15.08.2003
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German Trade With China Booms

Though German exports may be suffering on the whole, exporters are very pleased with the latest figures from China. There, at least, they are doing a brisk business. According to a report released by the Federal Agency for Foreign Trade in Cologne on Friday, exports to China increased 50 percent in the first half of this year, topping out at almost $11 million. Experts at the agency predict that by year's end exports will exceed more than $20 million for the first time. The remarkable increase is largely attributed to the Chinese government's decision to lower tariffs on cars, with the auto industry subsequently doubling their exports to more than $1.8 million.