China – the world’s second-largest economy, leading manufacturing nation, and most populous country – has continued to develop dynamically in recent years. Over 650 Austrian companies are represented in China with local subsidiaries and have actively contributed to the development of local industry and infrastructure. China is currently transitioning into a middle-income economy. It is no longer merely the “workbench of the world,” but has already taken a global leadership role in several industrial sectors. In the coming years, the country will have to define a new model for growth.
A high trade surplus, a state-guided innovation and economic model, as well as asymmetric market access, are generating geopolitical headwinds — particularly against the backdrop of economic challenges in the United States and Europe.
As part of the WKO Executive Mission on Trade Policy from 22 to 24 October 2025, representatives of ten Austrian companies had the opportunity to engage directly with Chinese ministries and organizations in Beijing. Talks with the Ministry of Commerce (MOFCOM), the China Council for the Promotion of International Trade (CCPIT), the Industrial and Commercial Bank of China (ICBC) — the world’s largest commercial bank — and the European Chamber of Commerce were led by Ambassador Wolf Dietrich Heim and Commercial Counsellor Franz Rößler. The aim was to understand current developments from a Chinese perspective, address the concerns of Austrian businesses, and reaffirm the willingness for dialogue even in challenging times.
A roundtable with Ambassador Hannah Liko provided an additional platform for Austrian companies to offer strategic input within the framework of the ongoing political consultations between Austria and China.
For the Austrian economy, China remains a key market. As Austria’s fourth most important trading partner, with strong mutual investment ties, integration in supply chains, the continued overseas expansion of Chinese companies, and notable progress in innovation, it is essential — especially now — to remain engaged with China and to learn from each other, in order to participate in the next phase of China’s economic growth.
