During 2014 China surpassed the United States as the largest economy in the world measured in GDP converted to purchasing power. Economic growth remain strong with an increase of 7,4 percent in 2014. China is at the moment experiencing a major economic reform and the political leadership changed course from relying on exports and a manufacturing economy to stimulating the domestic consumption. The early economic model, pursuing economic growth at all cost, is now abandoned and instead “smart” economic growth is encouraged, for example green energy, high technology products and services.
What is most striking today is the rapid growth of the Chinese middle class. The demand for consumer products has increased promptly, besides a slump in demand for domestic products, the Chinese population are now more than ever attracted to ‘Western’ products and to a wide extent utilise e-commerce.
Swedish export to China amounted to SEK 39,9 billion in 2014 and Swedish import reached SEK 49, 9 billion, making China our largest trading partner in Asia. Business Sweden has been active, with offices Peking and Shanghai, since 1994. We are in total 50 employees and two-thirds of the team are locally employed colleagues. At both our offices we provide Business Support Office (BSO) a sort of incubation with the possibility to rent office facilities and attain close and proactive support. Business Sweden in China works extensively through a network of contacts that are helpful when developing your business.
Today there are 500 active Swedish companies in China. A majority of these companies are still focusing on manufacturing but the trend demonstrates an inflow of services companies, mainly emphasising China as a sales market. Life science, environmental technology, retail and vehicles are growing industries with particular interest for Sweden. The already observed trend with a growing consumer market will escalate as product such as food, fashion, design and furniture are increasingly in demand.
In China, Business Sweden has supported more than half of the Swedish companies in the market and we support the business in the various stages of the sometimes complex Chinese marketplace. We analyse the market, provide counselling and work out strategies in order to enter the market. These are of crucial importance as the Chinese mainland is a big as other continents in size. In order to facilitate the entry we offer office space, assistance with accounting and administration. We also recruit key personnel, market analysis, expansion analysis, partner search as well as sales and purchasing.
Contact us and we can tell you more about the Chinese export market as well as the expanding market for sales operations.