Changes taking place in China's economic fabric are driving the acquisition of more highly advanced machines than in the past, and this can translate to additional growth opportunities for Italian technology. Just at the end of April a study by the International Comparison Program of the World Bank announced some news that had been in the air for some time but that nonetheless came as a surprise because it was way ahead of the predicted timeline: by the end of 2014 China will become the world's largest economy, surpassing the United States of America, based on purchasing-power parity and not on exchange rates, which are too volatile to be reliable. The surprising fact is that the leading economists had forecast this mark would be reached in 2019; this means that the speed of China's rising economy over the last ten years, sharpened by the severe crisis suffered in the West (and still not entirely behind us), greatly shortened the distances and also the time elapsed.Even though its growth rate shrank last year, China further confirms its validity as a strategic outlet for Italy's technology and quality production, especially in our industry.Indeed, there is another very interesting element to consider: the contribution of services to building China's GDP is greatly increasing. Advanced service industries, insurance and financial services, e-commerce and distribution will lend a major boost to the modernization of China's production structure, also making it more eco-compatible. There is a robust increase in demand for machinery capable of ensuring high yield production and performance standards, precisely what Gimav member companies sell successfully around the world.
The new trend is unfolding, and the experience at China Glass bears witness to that. The four days of the show in Shanghai revealed an increase in number of visitors to the Italian stands compared to last year in Beijing, as the 25 member firms present at the group stand could see for themselves. Gimav President Cinzia Schiatti confirms with a smile of satisfaction: “The 2014 edition of China Glass highlighted and brought excellent opportunities to the Italian enterprises at the show. For those who, like us, achieve 70% to 90% of our revenue abroad, the Asian market is essential, particularly now that the local businesses need high technology to be able to create quality products”. The driving force of the Chinese economy is quite apparent in all the neighboring markets, indeed a great number of industry professionals visited the show, topping them all, Southeast Asia, then the Middle East and Oceania, and even South America.