Antoine Frerot, chairman and CEO of Veolia Environment SA, said on May 26 that the company's revenue in China during the next five to 10 years will account for 8 percent of its total revenue.

That will equal the revenue from Germany or Great Britain.

The water supply and treatment company generated 29.6 billion euros ($37.7 billion) in revenue in 2011, approximately 4 percent of which came from China, Frerot said.

Frerot said Veolia will bid for projects that require complicated technologies as its Chinese peers have caught up, grabbing some of its original market share.

Frerot said the company will continue its innovative activities in China, trying to hold its position as the "pace setter".

Frerot said he feels no changes in China's investment environment during the past 15 years and China is still the most open market for Veolia.