Since the 1990ies, the People's Republic of China has undergone dramatic changes in regard to economy and economic policy. It aims at catching up with the surrounding newly industrialising countries and the Western industrial nations. Due to its rapid economic growth within the last couple of years, China is presently considered, apart from the USA and Japan, one of the biggest economic powers in the world.
Austria has been promoting its very good bilateral economic relations with China for many years. In order to preserve the success of this transcontinental co-operation, Austria has established three foreign trade offices in Honkgong, Shanghai and Beijing, respectively. The foreign trade offices are an official point of contact for Austrian companies initiating business deals with or in China. At the occasion of the EXPO in Shanghai, the Austrian Federal Chamber of Commerce focuses on Austrian business activities in China in the year 2010. The Federal Chamber of Commerce in co-operation with the foreign trade offices in China elaborates a comprehensive economic general programme in parallel to the EXPO 2010.
In the fields of electronics, textile, leather and toys, China as a supplier is very important for Austria. In this regard, especially the cities of Guangdong, Zhejiang, Jiangsu, Fujian and Shanghai are of essential importance.The Chinese economy, on the other hand, has a very big interest in Austrian products like machines/machine parts, industrial plants, and vehicles. Chances for future exports of Austrian companies are projected for the fields of health, environment, and energy.