Manufacturers told to make the most of Chinese opportunity

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 '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. Image: (l-r) Doug Mahoney (UKTI), Emma Reynolds (MP for Wolverhampton North East), Simon Griffiths (MAS-WM) and Stephen Phillips (China Britain Business Council)