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EU sees huge opportunities for exports to China

(Xinhua)
Updated: 2007-02-21 13:57

China is holding huge opportunities for the European Union exporters of green technology, high-value goods and business services, a EU study said on Tuesday.

The new study, supported by the European Commission, identified major opportunities for EU exporters after an assessment of the expanding market in China.

According to the study whose result was made available to the media on Tuesday, China's middle class is expected to number 150 million by 2010, which means new opportunities for EU companies in consumer goods. The study estimated the Chinese market for high-value goods will be worth one trillion euros (one euro equals to 1.3138 U.S. dollars) three years later.

The study also found the Chinese service sector is set to be on fast track of growth, whose market size may expand to 500 billion euros by 2010. This represents a new opportunity for EU providers of business to business services, the study said.

Since the Chinese government is committed to a sustainable economic growth pattern, which is strongly focused on environmental protection, the need for green technologies and services is another big opportunity for EU exporters. The market is estimated to be worth 98 billion euros by 2010.