Growth of key industries in China to benefit EU companies

MILAN - Fast development of key industries in China poses a strong potential for European companies, analysts of Dagong Europe, the branch of China-based Dagong Global Credit Rating Co Ltd in Europe, said here on Wednesday.

China's need to increase technological content of its production, reduce foreign energy dependence and fight environment pollution matches with important sectors in European countries such as automotive, energy, pharmaceuticals and telecommunication, Richard Miratsky, Head of Corporates Analytical Team at Dagong Europe, said.

Miratsky made the remarks at the Milan Foreign Press Association, where the agency's analysts presented the first series of Dagong Europe Industry Compass, a sector-focused study combining an overview of major European industries with focus on developments and opportunities in China.

Dagong Europe Industry Compass showed that strong demand makes China central to European car producers. Over 4.5 million European branded cars were sold in the Asian country last year, and the potential of future expansion remains strategic.

In the same way, surging China's healthcare expenses, driven by aging population, rising middle class and rapid urbanization will attract international investments in the pharmaceutical industry.

Regarding the telecom sector, currently domestic players dominate the market in China, but the continuing infrastructure upgrade will also benefit foreign manufacturers and providers of ancillary communication technologies.

China's growing demand for oil and gas as well as growing electricity demand and need to reduce coal use will also bring opportunities for European high-tech operators, the study highlighted.

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