The Chinese traffic and transport industry offers enormous opportunities with the Chinese government planning to spend $1.5 trillion in infrastructure over the next 15 years, with a $340 billion investment in road construction.* The market opportunities are eminent with the high influence of government policies in major economic decisions regarding the investment in infrastructure. It is predicted that with the world’s ever-growing population by 2050, 85 percent of the world’s population will live in urban areas. China’s major cities are already facing traffic jams, pollution and overcrowding. Smart mobility is an integral part of major projects to help solve these problems.
*Source: commonwealthbank March 2016
Collaboration with ITS China to focus on high tech supply and demand
ITS China will organize their own event as an integrated part of Intertraffic China. All Intertraffic exhibitors will benefit from this collaboration. ITS China is linked to market leaders and universities. The close cooperation with ITS China will advance possibilities and connections to (local) government bodies and key buyers within the police and traffic departments. ITS China works under the instruction and supervision of the Ministry of Science and Technology and the Ministry of Civil Affairs of the P.R. China. Along with the accelerated development of intelligent cities, ITS has become one of the most promising industries in China favored by policies. The overall market of ITS in 2014 will increase to 7.6 billion USD, and in 2015 is expected to exceed 12 billion USD.
China key region
China is becoming a key region of Asia with growth forecast for all the important sectors of the economy. It is continuing to pursue a free-market policy. The conditions for foreign companies are improving steadily - more legal certainty, admission to the WTO, tariff reductions, privileges for foreign investors and liberalisation of trade. China is the 2nd largest economy in the world. In 2012, China is one of the fastest growing economies in the world, with a real GDP growth rate of 7.8 percent in 2012. Although the figure is its slowest growth since 1999, it is also representative of a maturing economy as China gradually transitions from a developing to a developed nation. The predicted yearly growth figure for the coming years is estimated at 7%.