German Companies Deepen Investment in China Amid Strategic Growth in 2024 and 2025
German companies are intensifying their investments in China, signaling strong confidence in the market’s long-term potential. Key sectors like automotive, chemicals, and fashion are leading this growth. Mercedes-Benz and Volkswagen are advancing electric vehicle (EV) innovations tailored for China, while BASF commits €10 billion to a new chemical production facility. Hugo Boss is expanding its retail footprint to capture China’s demand for premium products. With €7.3 billion in Foreign Direct Investment in the first half of 2024, Germany’s “In China, for China” strategy emphasizes localization and sustainability. Despite geopolitical challenges, German firms remain focused on fostering strategic growth and partnerships.
Navigating the New Anti-Money Laundering Landscape: A Compliance Guide to China’s 2024 Anti-Money Laundering Law for Foreign-Invested and Outbound Enterprises
The 2024 revision of China’s Anti-Money Laundering (AML) Law brings significant updates to combat financial crimes. Effective January 1, 2025, the law introduces a risk-based approach, expands predicate offenses, and strengthens compliance obligations for financial institutions. Foreign-invested and outbound enterprises must adopt robust AML practices, including thorough due diligence and transparent financial transactions. Advanced technologies like AI and blockchain are encouraged for AML monitoring, reflecting the law’s focus on evolving risks. The revision also emphasizes international cooperation, aligning China’s efforts with global AML standards and reinforcing compliance for enterprises with cross-border operations.
