16th September 2018
Following the trade war with the US, each province has been given an allocation of funds (approx £100m) to spend on imports (to counter act the US trade barrier.)
Research your China potential without leaving your desk
We are all aware that there is massive potential for UK companies to do business with China. Are you interested but unsure how well-suited your products or services are to the Chinese market? We will try to establish this for you and offer to do some initial research on your behalf, but you will need to act quickly!
China is keen to show that it is a reliable, open and significant partner in world trade, for imports as well as exports. We understand that Chinese provinces and some large companies have been given targets for the value of new import contracts signed at or before the forthcoming CIIE exhibition which will be attended by President Xi Jinping. The sums are significant, for example, the province of Zhejiang is believed to have a target of $100 Million in new imports. This pattern is likely to be replicated across all provinces in China. Given the tariff dispute between the USA and China, this is good timing for UK companies.
How could you benefit?
We have a simple process for all Midlands companies interested in researching their China potential.
You provide us with brochures and sales material on the products/services you believe might be of interest in China (in an electronic form) and send it to us at the Department for International Trade (DIT) via survey monkey by Friday 14 September 2018. Note:
- We are particularly interested in innovative products and services.
- Your literature does not need to be translated, English is fine.
- We do not expect priced literature – just the features and benefits of your products/services.
- You do not need to provide detailed technical information
We will collate and send on to China via the Chinese Ministry of Commerce (MofCOM) in each province.
MofCOM will link these product offerings to companies in their provinces. If there is interest, we will look to establish contact and open a dialogue. Because this is done at a provincial level, we will receive answers from individual provinces at different times.
It is the combination of central targets for purchases, together with the ability to test the waters without leaving the UK that make this an unusual and potentially very attractive offer.
If you would like to take part, all you need to do at this stage is submit your current electronic sales material and we will take it from there.
|DR MICK CARLING | Head of Partnerships| UK Regions – Midlands
Department for International Trade | Apex Court | Nottingham NG2 4LA
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