EU, China bid on aspiring digital collaboration

(MENAFN) Digital and telecommunication cooperation between China and Europe has a very promising future, proved by ChinaEU, a business-led global Association aimed at rising business ties and investments in the telecom and hi-tech spheres.

There has been a shared view of many Chinese and European businesses alike that there are many areas of potentially lucrative collaboration between China and Europe, but perhaps none as promising as the digital and telecom markets.

Specifically, the digital economy has become the most powerful engine to drive China's economic development, not to mention the growth rate of this segment was five times higher than that of the country's GDP over the previous year.

Strategically, China and the EU have agreed to combine their digitization processes and exploit the complementarities of each other's competitive advantages: innovative technology in Europe and a huge market in China.