China is the great economic success story of the past 30 years. Previously an agricultural society, urbanisation reached over 52% in 2013. China is the world’s second largest economy after the United States and the biggest trading partner for most Asian economies. It’s a huge and expanding market for UK businesses.
Benefits for UK businesses include:
- largest country in the world by population
- fast growing consumer market
- growing number of middle income consumers
- close proximity to Asia Pacific region and economies
- marked growth ensured by Chinese monetary policy
- forecast to become the world’s largest luxury goods market by 2020
- London being positioned as a developing centre for Chinese currency business
Strengths of the Chinese market include:
- flourishing business base
- strong government investment programme
- largest Information and Communications Technology (ICT) market in the world
- over 160 cities of 1 million+ inhabitants with new cities emerging
- coastal areas developing into sophisticated urban clusters
There are various sources of additional information.
The Department for International Trade (DIT) helps UK-based companies succeed in the global economy and they also help overseas companies bring their investment to the UK. DIT offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. The Exporting to China pages are a useful source of information on the Gov.uk website. DiT also provide a free international export sales leads from its worldwide network. Search for export opportunities.
The China Britain Business Council (CBBC) help British and Chinese businesses and organisations work together in China, the UK and third markets around the world. CBBC operate alongside the British Chamber of Commerce in China to support companies of all sizes and sectors from multinationals to SMEs. CBBC delivers a range of events and provide research and consultative services. Search the Live Exporting Opportunities finder on the CBBC website.
China Britain Business Council
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