The European Commission's most recent predictions suggest that in 2013, the bloc's economy will shrink by 0.1 percent, and if the debt crisis does not deteriorate, the economy could begin to recover during the second half, with stable growth expected to take hold only in 2014.

Chinese industrial associations have also said that diversifying the country's export markets should be a priority.

Since the financial crisis of 2008, some member manufacturers have been expanding into emerging markets, said Li Wenfeng, vice-chairman of the China Chamber of Commerce for Import and Export of Light Industrial Products and Arts-Crafts.

"The opportunities in regions like Latin America, Africa, ASEAN and the Middle East are huge."

China has been the world's largest exporter of some light industries, including shoes, toys, watches, clocks, furniture, suitcases and ceramics, for many years.

In 2012, official figures showed the shipment of light industrial goods to ASEAN surged 42.7 percent, South Africa 29.6 percent, Brazil 21.7 percent, and to Russia 17.5 percent.

"Although shipments to European countries dropped sharply, emerging markets business made up for the losses," added Li.