China’s economic success has been built on a foundation of manufacturing on a massive scale. In 2013 Chinese machine industries netted global revenues in excess of EUR 678 billion, with growth of around 20% on the previous year.
This success, resulting in a reputation as ‘the world’s factory’ has made China’s demand for machinery, tools and related technologies insatiable, making it a fantastic potential marketplace for Europe’s high quality products and innovative technologies.
Unfortunately, rampant transgressions upon foreign IP by Chinese infringers in the past has left a black mark on China’s history, leaving potential importers and manufacturers wary of doing business in the country. It has been estimated that German mechanical engineering companies alone suffer a combined loss of approximately EUR 7.9 billion due to product and brand counterfeiting.