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Jessica Zhang, China Business Advisor
China-Britain Business Council
Tuesday 15 July 2014 – Liverpool IFB
China – Land of Opportunity
The Opportunities And
The Challenges
Shanghai 2010
In 2011, China overtook Japan to become the second biggest economy in the world.
The Chinese economy is projected to overtake the US economy by 2020 to become the world’s largest economy.
UK - China Visible Trade(not inc Hong Kong and Taiwan)
• Bilateral trade reached nearly £40bn
• China is the UK’s 7th largest export market
• In 2012 UK exports to China grew nearly 13%
• Increasing investment in both directions
Source: FCO
China has an economy like most continents:
- 287 cities - 274 with population over 1 million - 125 with urban population over 1 million40-60
20-40
0-20
60-100
Population (millions) by province
It’s Big
FUJIAN
XINJIANG
XIZANG(TIBET)
QINGHAI
GANSU
JILIN
GUANGXI
SICHUAN
YUNNAN
HUNAN
GUIZHOU
GUANGDONG
JIANGXI
HUBEI ANHUI
HENANSHAANXI
SHANXIHEBEI
SHANDONG
HEILONGJIANG
NEI MENGU(INNER MONGOLIA)
JIANGSU
LIAONING
HAINAN
TAIWAN
BEIJING
HONG KONG
SHANGHAI
TIANJIN
ZHEJIANG
NINGXIA
CHONGQING
What does China want?
• Increasingly affluent, aspirational, sophisticated – and urban
• Growing mid-range consumption
• Rising expectations, individualism and emotional needs
• Services:• Retail• Education• Financial & professional services• Travel• Medical
Ageing Population, Healthcare & Food Safety
• Rapidly aging population• Growing burden on families /middle generation• Focus on healthcare & social welfare needs • Food scares, baby foods, health alerts• Pollution & health issues
Government Development Policies
• Infrastructure & urban development • Environment & green-tech • Currency exchange & banking • Free Trade Zone• R&D Investments & moving up the value chain• IPR Control
New Opportunities
By 2025, China will have more than 220 cities with 1 million + inhabitants
China’s urban population is forecast to reach 1 billion by 2030
China’s Regional Cities
160+ cities with over 1 million people
Challenges for Business in China
1. Regulations & Bureaucracy
2. Building Relationships
3. Language & Culture
4. Adapting Business Models
5. HR & Employment Issues
6. Local Knowledge & Market Research
7. Marketing & Communications
• Do your research. Accurate market intelligence is difficult to find.
Seek in-country expertise
• Ensure your business strategy is right for China. Take advice.
• Focus (location, targets) and proceed step-by-step
• Invest in building relationships & making connections, visit regularly
• Find a local partner or have a local presence
• Spend time building brand awareness & credibility
• Be flexible & adapt to local needs
• Be patient
Top Tips for China…
About CBBC
Developing UK trade in China since 1950s
Widely recognised and respected at highest levels in both Chinese and British Governments
Unique relationship with official Chinese trade organisations and companies
Support for organisations of all sizes in all sectors
Powerful UK and China network
Team of 125+
Merged with British Chamber of Commerce, Beijing
UKTI’s delivery partner of choice
Shanghai
Shenzhen
Guangzhou
Beijing
Chengdu
Tianjin
Hangzhou
Nanjing
Chongqing
CBBC Team in ChinaOn-the-ground local expertise
Shenyang
Wuhan
Changsha
Xi’an
• 130 staff in 13 offices
• Working to help 100s of UK companies each year
Qingdao
Jessica Zhang
China Business Advisor
China-Britain Business Council
Email: [email protected]
Tel: 0151 227 1234 ext. 2239
Mobile: 07932571940
www.cbbc.org