Thursday, May 8, 2014

News: Chamber's China focus

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Barnsley & Rotherham Chamber is hosting an event this month to help local companies grow their business with China.

The Chinese economy has grown at just under ten per cent a year for 32 years, overtaking Japan in 2010 to become the world's second largest economy. Following the global financial crisis, the Chinese government began loosening monetary policy and has launched a major investment programme to ensure growth does not slip below the official "target rate" of 7.5 per cent.

The Foreign & Commonwealth Office states that UK exports to China grew rapidly over the past decade, but not quite quickly enough to keep pace with the market. Since 2002, UK exports to China have quadrupled to £12.5bn. The IMF's forecasts suggest China's import market will be worth over £3 trillion by 2020. If the UK maintains its market share, UK exports to China will be worth just over £30bn.

At the event at the Digital Media Centre in Barnsley on May 20, the Chamber is welcoming speakers from the China-Britain Business Council and Bridge to China, two leading organisations aimed at boosting trade and creating cross-cultural relationships between the UK and China.

Topics covered include: China, its regions & cities; Market Entry Strategy; Opportunities for Exporters; Cultural Considerations; Practical Tips; Help & Support Available.

The chamber is also supporting a trade visit to Shanghai & Xi'an later this month. Organised by ConnectChina, the visit is also supported by Rotherham Council. Councillor Roger Stone from Rotherham was invited to speak at an event in September 2013 in Xi'an. This provided an opportunity to showcase the Sheffield city region and helped to strengthen links between the two regions.

The visit will enable companies and organisations to participate in the Xi'an Silk Road Trade & Investment Cooperation Conference on May 23-26. Companies will be able to exhibit at the Expo at no cost and there will also be B2B meetings arranged by the organisers of the Expo.

Barnsley & Rotherham Chamber website
ConnectChina website

Images: Danielinblue / Wikipedia. Used under Creative Commons licence

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