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European companies show confidence in Chinese market with continued investment

Economy

Many European enterprises have fixed their eyes on the booming Chinese market, and they foresee long-term success regarding China's promising economic prospects and sound business environment.

XinhuaUpdated:  April 6, 2022
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At the Universal Beijing Resort, what attracted the attention of many tourists were not only the signature Transformers and Jurassic World themed zones, but also a special BMW roadshow therein, which showcased a new X5 vehicle, one of the German carmaker's most popular models.

According to the company, the X5 has been among its best-selling models worldwide since its debut in 1999. But what made the launch of the new X5 model especially significant was its new position as "the flagship of BMW's locally produced lineup."

On March 31, the company launched its all-new X5 with a China-exclusive wheelbase design, marking the first time that the model was made in China.

"The new car again reaffirms our targeting the Chinese market as top priority," said Johann Wieland, president and CEO of BMW Brilliance Automotive Ltd. (BBA), a joint venture between BMW and Chinese carmaker Brilliance China Automotive Holdings Ltd.

Photo taken on Dec. 21, 2021 shows a view of the new Tiexi Plant of BMW Brilliance Automotive (BBA) in Shenyang, northeast China's Liaoning Province. (Xinhua)

At a time when many Chinese cities are fighting against COVID-19 resurgences, BMW's launch of the new model shows its strong confidence in China's anti-pandemic measures and the country's stable and sustained economic development.

Many other European enterprises have also fixed their eyes on the booming Chinese market, and they foresee long-term success regarding China's promising economic prospects and sound business environment.

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