What about good old "so"?
German-made parts are way too expensive, so we ordered Chinese ones.
This is by far the most natural way of saying this.
ell.stackexchange.com/users/29750/theonlygusti
I guess you want to use a subordinate conjunction (or a phrase with similar functionality) which simply means "because".
In this context, I can mention several ones as below: Thus
Therefore Hence
consequently In this regard With this regard Under this consideration ...
However, I think you can reword that sentence to a more concise sentence: Since German-made parts are way too expensive, we ordered Chinese ones.
We ordered Chinese ones because German-made parts are way too expensive.
And many other similar sentences.
Note :
In line with the constructive feed-backs, "due to the reason that" and "due to" has been replaced by "because".
ell.stackexchange.com/users/21666/Cardinal
Given : assigned as a basis of calculation, reasoning, etc.:
Given A and B, C follows.
dictionary.com
So your sentence would read: German-made parts are way too expensive.
Given that , we ordered Chinese ones.
ell.stackexchange.com/users/11145/AndyT
Your phrase as-is is exactly what I'd use.
Except I would probably change it to "this," not "it."
German-made parts are way too expensive.
Taking this into consideration, we ordered Chinese ones.
Meanwhile, if you want a one-word answer, you could use, " thus " and various other synonyms for "thus."
German-made parts are way too expensive.
Thus , we ordered Chinese ones.
If you want to consolidate your sentences even more, you could try a semicolon.
German-made parts are way too expensive; thus , we ordered Chinese ones.
Semicolons show you really know your stuff, add sentence variation in construction, (slightly) lead into the next train of thought without breaking the reader's flow and just look cool .
ell.stackexchange.com/users/46453/Teacher KSHuang
If you definitely want a single word, then I would go with 'accordingly' - "in a way that is appropriate to the particular circumstances".
"German-made parts are way too expensive.
Accordingly, we ordered Chinese ones."
ell.stackexchange.com/users/54451/chipples
Consider:
In light of or similar phrases .
From the Macmillan Dictionary because of a particular fact
In light of your good driving record, we’ve decided to overlook this offense.
ell.stackexchange.com/users/48224/Davo
The majority of answers are looking to satisfy the original requirement and don't seem to consider sentence order.
What you are trying to convey can be said in a single short sentence without archaic words like 'thus' and without the use of complex punctuation I.e. We ordered Chinese parts because the German ones are too expensive.
ell.stackexchange.com/users/48894/charmer
Knowing that German-made parts are way too expensive, we ordered Chinese ones.
Or if you were to keep the structure same you could say German-made parts are way too expensive.
Knowing that, we ordered Chinese ones.
knowing Showing or suggesting that one has knowledge or awareness that is secret or known to only a few people.
Reference
ell.stackexchange.com/users/9691/Hanky Panky
Is there an introductory word or phrase which means  considering what was said ?    German-made parts are way too expensive.  Taking it into  consideration , we ordered Chinese ones.
Introductory word meaning "considering what was previously said"
ell.stackexchange.com
<meaning><adverbs><synonyms><adverbial-phrases>
ell.stackexchange.com/questions/127811
ell.stackexchange.com/users/2797/olegst
Suggestions include thus, therefore, hence, consequently, in this regard, due to the reason that, and due to. In this context, the follwoing may be used:   Thus  
Therefore  Hence   consequently  In this regard  With this regard  Under this consideration
In this context, the follwoing may be used:   Thus  
Therefore  Hence   consequently  In this regard  With this regard  Under this consideration.
In line with the constructive feed-backs, "due to the reason that" and "due to" has been replaced by "because". Semicolons show you really know your stuff, add sentence variation in construction