Daimler aims for China impetus with BAIC Motor stake

D

But with a growing middle class and expanding population, China is a vital consumer market, and not just for carmakers. A study by consultancy BCG shows that there are now 80 cities in China with over 500,000 people seen as middle class. That is forecast to rise to 300 cities in 10 years' time.

"Western companies who want to take part in this growth must act now," BCG globalisation expert Nikolaus Lang said this week. "They must acknowledge that while the balance of power is transferring to China and India , they can still benefit from this development."

Examples of European companies buying stakes in Chinese firms include Carlsberg increasing its holding in brewer Chongqing Jianiang Brewery Co. Ltd to about 49.6 percent in November.

($1 = 0.7367 euros) (Reporting By Christiaan Hetzner; Additional Reporting by Fang Yan in Beijing and Victoria Bryan in Frankfurt; Editing by Helen Massy-Beresford and Giles Elgood)

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on indianexpress.com are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, indianexpress.com reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.