China will be the largest export market for EU

Last Updated on Monday, 06 February 2012 14:12 Monday, 06 February 2012 14:11

Written by China Times

China can become the largest export market for the European Union this year, according to Markus Ederer, the EU Ambassador to China.

The United States would therefore be expelled from the throne. The expectation of Ederer is based on current market trends. “European export to China are growing faster than European imports from China,” as he noted.

The European Union has been the largest market for Chinese products for years. However, China shifts the focus to domestic demand.

Yet the Chinese economy is still largely dependent on exports. China looks carefully at the European debt crisis which can hinder the growth of Chinese economy.

The comments of the EU Ambassador follows that the Chinese Premier Wen Jiabao said that China is considering financial support to Europe via the Emergency funds. Wen Jiabao also said that “Europe” is crucial for Beijing.