(Yicai) Oct. 29 -- Specialty chemicals firm Johnson Matthey and other UK companies are confident about the Chinese market in the long run, despite the global economic downturn and rising geopolitical risks, and are carving out new opportunities in fields such as scientific and technological manufacturing as well as educational services.

Johnson Matthey, which specializes in green hydrogen, green methanol, sustainable aviation fuel, biochemicals and other low-carbon tech, plans to hike investment in China, said Mark Su, president of the London-based company’s China arm.

Although, foreign firms are facing challenges in China such as weak demand, stiff local rivalry and increased regulation, there are still business opportunities in the green tech area where Johnson Matthey is focused, he added.

Johnson Matthey has already committed CNY1 billion (USD140 million) to build a factory for coated catalyst film, a core part of membrane fuel cells, in Shanghai’s Jiading district, it said, citing a deal penned with the Jiading government in July last year. Operations should start by the end of next year.

The sluggish economy in China has affected the disposable income of most households, but demand for premium educational services continues to rise, said William Vanbergen, the founder and chairman of BE Education, a company which helps Chinese students apply to top schools and universities in the UK.

BE Education is anticipating a 15 percent jump in revenue this year as more Chinese middle and high-school students apply to go to the UK, said Vanbergen. Almost 6,000 students from the mainland are studying in the private schools represented by the UK's Independent Schools Council this year.

BE Education is optimistic about its future in China, Vanbergen said. China's sustained attention on innovation, tech, and talent development are perfectly in line with the Shanghai-based firm's vision. Next, BE Education plans to expand its business to other parts of the Asia-Pacific region.

Other companies, such as professional services provider Deloitte are also targeting emerging demand to adjust strategies and step up development planning.

Editors: Zhang Yushuo, Kim Taylor