How would you define the level of competitiveness in the Chinese market of the French based railway companies?
There is fierce competition on most of the markets where French-based companies have skills and capacity to be successful. As the Chinese market is the most important market in rail products in the world, all global companies are competing with each other to win contracts, so in many fields the high technological level is not sufficient to win the contracts. Moreover, China has specific requirements for production of local content (70%) and a limited share of foreign companies (49%). Nevertheless, many French-based companies are already doing a lot of business in China and represent success stories in China in signal systems, in rail infrastructure products, etc. What is your view on the fact that if China is indeed looking for French technology in the development of its railway systems, the very same technology transfer risks to undermine the leadership of the French-based companies? The most international contracts in China in the railway sector are based on the condition of technolo
