Last year's China International Import Expo (CIIE) ended with $57.8 billion worth of trade deals. For 2019, plans are underway to make the event even bigger - highlighting key opportunities for UK businesses aiming to break into the Chinese market.

Shanghai’s inaugural CIIE attracted 172 countries and regions, 3,617 foreign businesses and over 400,000 buyers and industry leaders to the international stage.

Sixty British businesses attended the expo with the UK named as a ‘country of honour’ for its contribution. The British companies were joined by International Trade Secretary, Liam Fox; Minister for Trade and Export Promotion, Baroness Rona Fairhead; and the Duke of York, HRH Prince Andrew.

During the course of the six-day event, which ran from 5-10 November 2018, British companies secured £2bn worth of deals. ACOLINK LTD, a Leeds-based firm facilitating and encouraging trade between the UK and China, views the CIIE as a valuable opportunity for businesses aiming to sustainably expand into China.

ACOLINK supports China’s One Belt One road initiative. CEO Anita Zhang says: “A state-level trading show like the CIIE is a great time for UK businesses to think about how trading with China can open doors to other opportunities.

“The Belt and Road initiative is an example of that. Businesses attending the CIIE, including domestic Chinese firms, will also be looking to embrace mutually-beneficial connections with other businesses. Participating in that kind of environment can be a significant exploration step for exporters who want to go global.”

The CIIE was launched 40 years after China’s Opening Up and Reform policy was rolled out, and bilateral trade cooperation between the UK and China has grown considerably ever since. In 2017, UK exports to China reached a record-breaking £22.8bn.

China’s appetite for imported goods and services is growing and offers an increased opportunity for British businesses to export to this growing, sustainable market. In 2019, the Chinese market is predicted to surpass the US as the world’s largest retail market by over $100bn.

Baroness Fairhead attended the CIIE in November in order to promote the UK’s export potential with China.

She says: “There is a real and significant demand in China for British products and services. Indeed, recent research from Barclays shows that Chinese consumers are willing to pay more for goods made in the UK because of their trusted quality.”

The CIIE plans to expand in 2019. It will feature more outdoor spaces and offer more business exhibition areas and categories in response to booming demand.

Over 1,000 businesses have already applied for 2019’s CIIE. Five hundred companies have confirmed their attendance for this year’s event, including 70 leading companies from the Fortune Global 500.

This year, the CIIE is aiming to increase and enhance the global trade relations it established in 2018. As a result, British businesses attending the CIIE will not only have the opportunity to showcase their products and services to China, but also to more than 170 other attending countries in an effort to promote an open world economy.
ACOLINK recommends that UK companies attending the CIIE are open to exploration and have a focus on the types of businesses with which they could establish meaningful business links.

UK Trade Minister Liam Fox says: “We have a once in a generation opportunity to put the UK at the centre of the world’s fastest-growing market - and increasing trade with China is at the heart of that vision.”

Applications for this year’s CIIE are still open. Contact ACOLINK to find out how this opportunity could work for your company and how you could access funding in order to visit.