Hamburg – China’s trading hub in Europe
Hamburg is China’s gateway to Europe and serves as the central hub for the New Silk Road – both on land and by sea. China has been Germany‘s number one trading partner since 2016 for the fourth time. In 2019 alone, the bilateral trade volume amounted to more than €200 billion. Today, more than 50 percent of German foreign trade with the People’s Republic of China is handled in the port of Hamburg, with more than 2.6 million container units (TEU) handled in 2018. Accounting for about one third of the volume of all containers handled in Hamburg, China is the number one foreign trade partner of Hamburg’s port. In addition, the number of direct freight train connections between Hamburg and China is increasing steadily. Every week, there are more than 200 container train connections between Hamburg and China. Trade ties between Hamburg and China go back to the era of the Hanseatic League. In 1986, Hamburg was the first European city to twin with Shanghai, and the two cities continue to foster their lively partnership.
Over 550 Chinese companies have offices in Hamburg, making it home to more Chinese businesses than any other European city. Moreover, about 900 Hamburg businesses are engaged in trade with China, coordinating their China-related imports and exports for the whole of Europe from here. Today, Hamburg has established itself as a leading centre for Chinese affairs. Hardly any other location in Europe offers such concentrated China-related expertise. Together, all of these factors ensure that the entire value chain is perfectly aligned with Hamburg’s economic links with China.
In 2020 the China Communications Construction Company (CCCC) opened a procurement center for Europe in Hamburg. In the recent years, Chinese companies are particularly active in the field of innovative technology providers. In spring 2018, XCharge, the Chinese specialist for fast charging stations, opened their European head offices in Hamburg. In June 2016, Beijing-based company Spearhead acquired the Hamburg-based IT developer Smaato for $148 million, and Dutch chip manufacturer NXP sold its high-tech semiconductor plant in Hamburg to a consortium comprising Jianaguang Asset Management and Wise Road Capital. Moreover, the Chinese company Youzu Interactive Co, Ltd. acquired the Hamburg-based game developer Bigpoint. The biennial economic conference “Hamburg Summit: China Meets Europe”, which is hosted by the Hamburg Chamber of Commerce and was first held in 2004, is one of the leading Sino-European business meetings. . In 2014 China’s Prime Minister Li Keqiang attended the conference. The next Hamburg Summit will take place in Autumn 2021.
