German carmaker BMW announced an additional investment of 20 billion yuan (about 2.81 billion US dollars) in its production base in Shenyang, capital of northeast China's Liaoning Province, reports Xinhua news agency.

"The planned investment underlines not only our confidence in China's long-term economic prospects, but also in the innovation capabilities of our Chinese partners," said Oliver Zipse, Chairman of the Board of Management of BMW AG, in a speech.

In recent years, BMW has been actively increasing its investments in China, where the group's largest production base in the world is located. In November 2023, BBA completed the construction of the main building of a new battery production plant in Shenyang, with a total investment of 10 billion yuan (about 1.38 billion US dollars).