China-Germany (China-Europe) Hidden Champions Forum 2024 opened in Beijing on Monday, and more than 10 projects in sectors such as new energy vehicles, digital economy, and education and culture, have reached cooperation agreements.

Germany has more than 1,300 hidden champion companies, referring to those companies that dominate in their respective niches, but are largely unknown to the general public.

Over 50 hidden champion companies and specialized and innovative enterprises will showcase their achievements during the two-day forum, which is held at the Beijing China-Germany Industrial Park in Shunyi district.

During the opening ceremony, a research report on the industrial cooperation of hidden champions between China and Germany was released. The report analyzed the features and development experience of German hidden champion enterprises, the challenges they faced and their potential cooperation demand with China.

The report also proposed some cooperation suggestions between Germany and China, including joint innovation, promoting supply chain security and providing better customer services.

The Beijing China-Germany Industrial Park, or the first national-level park that focuses on Sino-German economic and technological cooperation, has gathered over 100 German-funded and affiliated enterprises, including Mercedes Benz, BMW, Bosch Group and Wilo Group, a company that focuses on water pump manufacturing.

The total investment value at the park reached 5 billion euros ($5.4 billion). Next, the local government of Shunyi district said it would draw on advanced international experience and further strengthen cooperation with Germany and other European countries.