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Industry News & Markets |
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ITALY : ITALIAN FURNITURE ENTER THE CHINESE MARKET |
The Italian furniture industry seems ready to enter the Chinese market. From the last exhibition in Milan, the sensational news is that Italian furniture manufacturers have found the new market, China especially since there is talk of consumption growing at about a 12-15% yearly for the next decade. The entry of China into the WTO also encourages foreign manufacturers since some of the import taxes will soon reduce (from 22% to 10% and then to zero by 2006) and there will be more attention paid to copyright and patent legislation. Italian manufacturers plans to develop production and trade agreements with local partners. Other reasons for a close look at China will be the 2008 Olympic Games in Beijing, the 2010 Universal Exposition in Shanghai, which will boost the construction sector, specially the hotels, and the recent law allowing even more Chinese citizens to become owners of their apartments. This new situation is expected to create a growth in interior furnishings and decoration. |
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