GLOBALink | European firms confident in Chinese market as China, EU deepen cooperation

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GLOBALink | European firms confident in Chinese market as China, EU deepen cooperation

STORY: European firms confident in Chinese market as China, EU deepen cooperation DATELINE: April 5, 2022 LENGTH: 0:02:00 LOCATION: SHENYANG, China CATEGORY: ECONOMY SHOTLIST: 1. various of the BMW factory and Audi factory 2. various of China and Europe economic cooperation STORYLINE: German carmaker BMW launched its all-new X5 with China-exclusive wheelbase design last week. It was the first time that the model was made in China. In February, the German auto giant strengthened its partnership in China by extending the joint-venture contract of BBA (BMW Brilliance Automotive Ltd.) until 2040, and increased its shares from 50 percent to 75 percent by investing some 27.9 billion yuan (about 4.4 billion U.S. dollars). These moves have reflected BMW's confidence in the Chinese market despite the pandemic. Apart from BMW, German automaker Audi also steps up efforts in cooperating with its Chinese partners. In February, cooperating with China's leading automaker First Automotive Works, Audi officially lau

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