Member Article

UK businesses need to invest in China to drive growth

London, UK – 28th July 2014 – UK businesses are not taking advantage of China’s rapid economic growth. This was the message expressed by Mr. Xu Bing, Deputy Director General of China Foreign Trade Centre at this year’s Canton Fair London seminar. Hosted by the UK’s Economic and Commercial Section of the Chinese Embassy and China Foreign Trade Centre, the seminar offered advice to UK businesses looking to start partnerships with companies in China.

The UK’s share of exports to the Chinese market has fallen to around one per cent over the past decade[1], raising concerns that Great Britain is not aligning its trade offerings with China’s fastest growing sectors.

Over the last 32 years, China has experienced uninterrupted growth averaging 10 per cent per annum, and became the world’s largest goods exporter in 2009, ahead of Germany and the US[2]. Its growth offers UK businesses vast opportunities to invest in.

Attracting over 24,000 of China’s best foreign trade companies and 500 overseas companies, the Canton Fair is the largest trade fair in China and is held bi-annually in Guangzhou. It has a strict mechanism of selecting suppliers to ensure that all suppliers attending the show are of the highest quality. Since 2007, the Canton Fair has established the International Pavilions for overseas exhibitors who want to enter Chinese market. The Canton Fair is the best platform and offers the most effective way for international organisations to successfully develop business relationships with companies in China. The 116th session of the Canton Fair is being held on 15th October – 4th November 2014. Attending the show will help UK businesses to get to know the Chinese market, meet face-to-face with some of China’s most successful companies, view the latest designs and products on offer, plus build strong relationships.

Any buyer who suspects an exhibitor has infringed upon their intellectual property rights (IPR), trademark or patent, can seek advice at Canton Fair’s established IPR Complaint Office at the show. The complaint office offers expertise and lawyer assistance, and can help with trade disputes as well.

“With the Chinese government making funding available to establish improved policies in infrastructure, science, technology innovation, workforce development, safety, health and sustainability, the country’s manufacturing industry is continuing to rapidly grow and become increasingly more competitive in a global market,” comments Mr. Zhou Xiaoming, Minister Counsellor of Chinese Embassy. “This, coupled with investments in key strategic markets such as high-end equipment manufacturing, is making China an interesting market opportunity for UK businesses to continue be involved with.”

For further information on the Canton Fair and how to register, please visit: http://www.cantonfair.org.cn/en/

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About the Canton Fair

China Import and Export Fair, also known as the Canton Fair, is held biannually in Guangzhou every spring and autumn, with a history of 55 years since 1957. The Fair is a comprehensive one with the longest history, the highest level, the largest scale, the most complete exhibit variety, the broadest distribution of overseas buyers and the greatest business turnover in China - http://www.cantonfair.org.cn/en/

[1] https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/211157/UK_Exports_to_China_-_Now_and_in_the_future.pdf

[2] http://www.cbbc.org/guide/china_info_and_reports/uk_china_statistics

This was posted in Bdaily's Members' News section by Melanie Johnson .