BRUSSELS, Feb. 20 (Xinhua) -- China is holding huge opportunities for the European Union exporters of green technology, high-value goods and business services, a EU study said on Tuesday.

The new study, supported by the European Commission, identified major opportunities for EU exporters after an assessment of the expanding market in China.

According to the study whose result was made available to the media on Tuesday, China's middle class is expected to number 150 million by 2010, which means new opportunities for EU companies in consumer goods. The study estimated the Chinese market for high-value goods will be worth one trillion euros (one euro equals to 1.3138 U.S. dollars) three years later.

The study also found the Chinese service sector is set to be on fast track of growth, whose market size may expand to 500 billion euros by 2010. This represents a new opportunity for EU providers of business to business services, the study said.

Since the Chinese government is committed to a sustainable economic growth pattern, which is strongly focused on environmental protection, the need for green technologies and services is another big opportunity for EU exporters. The market is estimated to be worth 98 billion euros by 2010.

The study advised EU companies should be present in China to catch those opportunities.

EU companies wanting to compete on price in the Chinese economy will need to produce goods in China itself in order to be cost-competitive, the study said.

Actually, successful European companies are already diversifying into China-based manufacturing where they want to compete in China.

Many new European companies establishing production in China now are doing so not as an alternative to EU-based production but to compete in the Chinese market.

While acknowledging China's efforts to liberalize its economy, the study, however, raised some concerns with China over market access, urging China to do more in protecting intellectual property and removing non-tariff barriers.

Chinese non-tariff barriers cost EU operators no less than 21.4 billion euros a year in lost business opportunities, the study claimed.

The new study took a similar position as embodied in the new strategy for EU-China trade released by the European Commission in October 2006, which set out a wide-ranging new policy for building the EU's trade and investment relationship with China.

The strategy review argued that both China and Europe have benefited from China's economic rise, despite the competitive pressure it has exerted in the global economy. By pointing out the room for improvement, the strategy gave an overall encouraging picture of the Chinese market, which was said to be full of opportunities, but also with challenges.