Marquardt is a German company dedicated to electronic component manufacturing and was the first international company to set up operations in the Heqing Industrial Park in Pudong New Area. [Photo/Wenhui Daily]

"I firmly believe that we will have a brighter future in Pudong," said Peter Schumann, vice-president of Marquardt Electronic Technology (Shanghai) Company.

Marquardt is a German company dedicated to electronic component manufacturing and was the first international company to set up operations in the Heqing Industrial Park in Pudong New Area.

"In 1996, the second-generation founder of Marquardt came to China with the intention of finding a place similar to our hometown's business environment. After coming to Pudong, he felt like he was back home," said Schumann.

Schumann first came to Shanghai in 2004, and the city amazed him.

Marquardt Electronic Technology (Shanghai) Company. [Photo/Wenhui Daily]

"China has already gained an important position in automobiles and innovation. For international companies like Marquardt that come to in China, it is very important to understand the technological trends and market in the city and to apply these ideas and technologies to the development of the market," he added.

"We have integrated our production lines and formulated efficient production plans, which have greatly reduced labor costs while increasing production capacity through highly automated equipment and robots. In the automotive industry, we serve 11 of the top 12 global car manufacturers, and in China, we are committed to servicing the new energy vehicle sector," said Schumann.

He added that Pudong has a business environment conducive to growth, and the industry is well-developed. He is confident that the company can continue to grow in such an environment.

Marquardt invests 10 percent of its annual turnover in research and development, which is a high percentage compared to its peers. The company has also provided employees with a creative and sustainable development environment. 

Pudong New Area in Shanghai boasts a vibrant economy. [Photo provided to chinadaily.com.cn]