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AWO Presents Business Opportunities for Austrian Companies in China

Published: March 11, 2011; 02:03 · (Vindobona)

Big opportunities in consumer goods & lifestyle, plastics and automotive industries were informed in Vienna, Linz and Graz by Außenwirtschaft Österreich (AWO, Foreign Trade Austria).

AWO Presents Business Opportunities for Austrian Companies in China / Picture: © Vindobona.org

At the beginning of 2011, the People's Republic of China is in a better situation than before the financial crisis. The country has become the largest exporter and the second largest economy in the world. With a GDP of € 4.4bn and an economic growth of +10.3%, China has not only turned into the economic driver of Asia, but of the whole world. In order to advise Austrian companies in the optimal development and expansion of their business relationship with China,  Foreign Trade Austria (AWO) organizes in March the “AWO-industry forum China and Hong Kong” in the context of the internationalization drive “go international” in Vienna, Linz and Graz.

The industry forums cover the areas of architecture-design-lifestyle, plastics, as well as automotive, and show the opportunities and potential for Austrian companies in these industries.

China's economic growth and the consequent rising affluence of the population, lead to a situation in which the emerging middle class is becoming gradually an interesting expectant potential prospect for consumer goods and also for luxury goods. Most international luxury goods manufacturers would not be able to survive any more without the Chinese market. The plastics industry has also recorded a huge boost. 5.44 million tons of plastics are consumed every day in China. The industry offers very good market opportunities, especially for suppliers of plastic machines and recycling technologies. The automotive sector in turn is currently considered in China as the booming industry. Due to rising affluence and state economic incentives motor vehicle sales rose by 32.4% last year.