China trade visit

With China being the world’s largest exporter of goods, Alan Rides, Chamber CEO, visited to understand what is happening in the new COVID-free/ immunised world where tariff barriers are becoming the new sanctions. In recent years, China has been setting some impressive trade numbers. Exports have risen to $2.8tn in 2020, $3.5tn in 2021 and $3.7tn in 2022, but in 2023, exports were down to $3.38tn, so what is happening?

Looking closer to home, China’s exports to the UK in 2023, at £56bn, are down by 20%, compared to UK exports to China at £32bn, down a little from the record year in 2022 of £33bn. It is worth remembering that China has a population of 1.4bn people and exports $3.7tn, compared with the UK having a 65m population (5% of the Chinese population) we export a record setting $1.1tn so person for person we do very well and are the worlds 4th largest exporter behind China, USA and Germany.

Our delegation, consisting of Lord Waverley and Prof Don Lewis, supported by Wei Li (GoGlobal Trade) and myself, was looking to understand post-COVID China and commercial trade opportunities globally, with my focus on trade via West London with the UK, especially Foreign Direct Investment.

We visited 4 Chinese cities in 10 days, including Guangzhou and Shenzhen, with a view of Hong Kong, plus Qingdao and Beijing.

Our mission started in the Greater Bay Area (GBA), where we were part of the opening ceremonies of the 136th Canton Fair, which attracts over 200,000 visitors to see over 2000 exhibitors in an exhibition area of 400,000m2 or four times ExCeL. The mission ended in Bejing.

The visit provided valuable insights into the fast-evolving post-COVID Chinese market and opened opportunities for collaboration with GoGlobal Trade with a range of different local partners linking Chambers of Commerce and Associations led by West London Chambers of Commerce.

I was inspired by the warm receptions, how committed, experienced, passionate and open the delegates were, and the enthusiasm shown to grow globally, now with their own brands instead of simply being a low-cost manufacturing base for Western brands. This is reflected best with cars; Tesla being the international brand made in China, MG being the purchased overseas brand now all made in China and BYD the home grown Chinese brand all made in China.

For help with trade in China we now have exceptional market access and contacts so please be in touch.