© Austrian Federal Economic Chamber
From left: Chinese Ambassador Ms. QI Mei, Vice Minister Mr. LING Ji, Vice President of the Austrian Federal Economic Chamber Ms. Amelie Gross and Regional Manager for Asia Mr. Franz Rößler
Austria and the People's Republic of China are maintaining a "friendly and strategic partnership".
After the end of the Covid pandemic, it is particularly important to cultivate more personal exchanges and relationships and exchanges again. With these words Ms. Amelie Gross, Vice President of the Austrian Federal Economic Chamber, opened the fully booked “China-Austria Economic Forum” held at the Austrian Federal Economic Chamber in Vienna on June 6, 2024.
Mr. LING Ji, Vice Minister of the Ministry of Commerce of the People's Republic of China (MOFCOM) and Deputy Chief Delegate for International Trade in China, emphasized the good economic relationship between China and Austria and that the Austrian and Chinese economies are complementing each other. China would continue to warmly welcome Austrian investments in China. The program also featured a special introduction to the city of Taicang and the China-Austria Eco-Park in Nantong, both near Shanghai.
At the first meeting of the Austria-China Joint Economic Commission since 2019, chaired by Ms. Eva Landrichtinger, Secretary General at the Austrian Federal Ministry of Labour and Economy, and Mr. Vice Minister LING Ji, an assessment of the Austria-China economic relations was made. Opportunities were identified, particularly in the green transition, industrial modernization and tourism, but also areas of differing views were presented. Problems faced by individual Austrian companies were addressed, and enterprises could raise their concerns in memoranda, which were handed over during the meeting.
The Chinese Ambassador to Austria, Mrs. QI Mei, organized a smaller roundtable for an exchange between representatives of Austrian companies with the Vice Minister Mr. LING Ji, who emphasized that China would continue to open up to foreign companies. The Austrian firms had the chance to raise issues such as the protection of intellectual property rights and participation in public tenders during the discussion.
The Austrian and Chinese economies are closely intertwined. With a trade volume of over EUR 20 billion, China is Austria's most important trading partner in Asia and the fifth most important one worldwide. Behind Germany, China is Austria’s second-biggest source of imports. Around 650 Austrian companies have established over 950 subsidiaries in China. On the other hand, Chinese companies have invested over EUR 3 billion in Austria, employing several thousand people and are mainly using their Austria subsidiary as hub for the Central and Eastern European region.
