Businesses across Europe have received a boost from buoyant demand from China in recent months, even as they struggle to shake off the continuing economic drag at home, reported the Financial Times.
Data published on Saturday showed that in October, Chinese imports from Germany rose by an annual rate of 24% and those from Italy increased by 21%, following strong expansions in September.
And in the three months to August — the latest available data — EU exports to the US and the UK were down 14% compared to the same period last year, but exports to China were up 9%.
“China is one of the few markets for which we expect rising sales this year,” said Stefano Leone, worldwide sales director of Italian luxury wine producer Marchesi Antinori, which traces its history back to 1385.