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Chinese, Scottish businesses explore potential market opportunities

Xinhua, September 22, 2016 Adjust font size:

China is seen as a market with vast opportunities and accessible to companies who take the time to understand the challenging market viewed from a distance, Scottish small and medium-sized enterprises (SMEs) was told here on Wednesday.

Organized by the China-Britain Business Council (CBBC), the SME China Forum held in Scotland's biggest city tackled on Market Entry Strategies, China Digital Opportunity and Securing Investment from China as about 300 delegates including 30-strong business delegations from China's Shandong province and representatives from Scottish companies and governments met to explore trade and investment opportunities.

Addressing the opening plenary, Tom Troubridge, Vice Chairman of the CBBC, said the SME China Forum is one of the CBBC's flagship events focusing on the practical day to day support that makes it easier for SMEs to trade with and seek investment from China.

"China is such a diverse market, both geographically and in terms of its need for Scottish goods and services. The days of having a single 'China strategy' are largely behind us, with more in-depth understanding now necessary to navigate the vast opportunities available across this expansive market," said Troubridge.

Jin Xu, minister counsellor of the economic and commercial office of China's embassy in Britain, expressed his hope that the Scottish companies and the small and medium-sized enterprises from Shandong province can grasp the vast opportunities of the "Golden Era" of China-Britain relationship and enhance cooperation in sectors of innovation, technology, cultural, economic and trade exchanges.

Ji Xiangqi, vice-governor of Shandong province, said this year witnesses the 10th anniversary of an agreement between Shandong and Scotland on the establishment of a friendly and cooperative relationship, signed in 2006, calling on both sides to combine the big market potential of Shangdong province and the technology advantage of Scotland to achieve mutual benefit in sectors of electronics, farm products, food and drinks, textiles, as well as culture, education and tourism.

Keith Brown, cabinet secretary of economy, jobs and fair work of the Scottish government, highlighted the marine technology cooperation between Scotland and Shandong province, adding that the collaboration between the two sides is expanding.

The delegates also shared their experiences of doing business in China as the country is rebalancing the economy and transforming into a consumer society with a market full of new challenges and new chances. Endit