German companies are facing tougher competition in China from domestic Chinese firms, according to a new survey from the German Chambers of Commerce Abroad (AHK) Greater China. A total of 46% of German companies surveyed believe it is likely or very likely that Chinese companies could take the lead in their sector in terms of innovation within five years, according to the survey results released on Wednesday. Another 5% of respondents said this was already the case. “Competition is getting stronger. Chinese companies are getting better,” Ulf Reinhardt, the AHK chairman in China, said in Beijin…