Pictured above: (l-r) Stephen Phillips (China Britain
Business Council), Emma Reynolds (MP for Wolverhampton North East),
Simon Griffiths (MAS-WM) and Doug Mahoney (UKTI)
More than 80 West Midlands' manufacturers declared their
interest in exploiting new opportunities in China on Friday, as
part of a major summit held in Birmingham.
Companies, including Special Metals Wiggins, RNA Automation and
Forward Industrial, were given an in-depth introduction to trading
with the emerging superpower and were urged to make the most of an
economy that is increasingly being led by its domestic
marketplace.
Delegates heard how the automotive industry now sells 18 million
cars within China every year (annual growth of 25%) and how
consumers, who have some of the fastest rising disposable incomes
in the world, have a massive appetite for Western brands and new
products.
The high-profile event, which was funded by the Manufacturing
Advisory Service-West Midlands, also featured addresses from Emma
Reynolds (MP for Wolverhampton North East) and Stephen Phillips
(China Britain Business Council), the latter highlighting
opportunities for the UK to utilise its world leading expertise in
low carbon technologies.
"China can no longer just be seen as a threat. In fact, its
staggering growth has now created an economy that is less
export-led and more focused on meeting demand in its massive
domestic market," explained Simon Griffiths, Chief Executive of
MAS-WM.
"The country also wants to move up the value added chain and
transform its reputation from 'made in China' to 'designed in
China'. They can't do this overnight and are now looking to Europe
and the UK in particular to help them with joint ventures or new
trading agreements. We have to make sure the West Midlands is at
the forefront of these opportunities.
"The event on Friday came about after discussions with Emma
Reynolds MP and initially we wanted to attract 30 manufacturers. A
few days after we promoted the event and all the places were
filled, so we decided to double the capacity...the best example yet
of the appetite from local companies to trade in the Far East."
The 'China in your hand' event gave delegates the chance to find
out what business support is available to them, including UKTI's
'Passport to Export' scheme for novices and 'Gateway to Global
Growth' for more experienced international traders.
Peter Henderson also explained how he broke into the Chinese
market with Valve Train in Lichfield, a strategy that involved
significant market research, plenty of trips overseas and getting
the firm's quality, cost and delivery right.
The industrialist, who subsequently sold the business to a US
group, stressed the importance of understanding the culture, the
market opportunity and some less well known tips, such as avoiding
taxis, hiring meeting rooms instead of hotel foyers and employing a
trusted interpreter.
Simon concluded: "Hopefully this event will whet the appetite of
West Midlands companies and we will be keeping in touch with firms
to see if we can help with more in-depth support to help them make
the most of trading with China."