The Chinese Zhejiang Province is relocating its representative office from Frankfurt to the North Rhine-Westphalian state capital.
Zhejiang is one of the economically strongest provinces in the People's Republic. The region in southeast China is economically the fourth most important of the 31 Chinese provinces. The gross domestic product (GDP) of the provincial capital Hangzhou alone is higher than the entire GDP of Hungary.
Renowned global corporations such as the online retailer Alibaba, the soft drinks company Wahaha or the automotive firm Geely, which bought up Volvo in 2010, are based in Zhejiang. In addition, many small and medium-sized enterprises characterize the economic structure of the province and contribute to the development of Zhejiang. Many of these Chinese companies have already discovered the investment location NRW for themselves and control their German or European operations from there. These include Donghua Industries, Cron Europe or the machinery manufacturer Wolong. Zhejiang is one of the top 5 Chinese provinces from which NRW.INVEST achieved the most successful settlements in the state.
