Made in China 2015

mic2025

Our friends at the China-Britain Business Council (CBBC) and UK Trade and Investment (UKTI) have produced a report, Made in China 2025, that offers an analysis of what the Made in China 2025 initiative is, and how UK companies can benefit.

China’s State Council announced Made in China 2025 in May 2015 as a national initiative to improve the manufacturing industry – initially up to 2025 and then on to 2035 and 2049. The goal is to transform China into a leading manufacturing power and the process has already begun – with 50 pilot projects started across China in 2015.

The report focuses on 10 priority sectors for China, highlighting areas of opportunity for UK companies. The sectors include:

  • advanced rail and equipment
  • aviation and aerospace equipment
  • agricultural machinery and technology
  • power equipment and technology
  • low and new-energy vehicles
  • new materials
  • high-end manufacturing control equipment and robotics
  • biopharmaceuticals and high-end medical equipment
  • advanced marine equipment and high-tech vessels
  • integrated circuits and new generation information technology

The report is available from the CBBC website, but you’ll have to register first. Download your report here

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What’s driving the Chinese consumer?

The Chinese consumer has become much more health conscious and more focused on value—although that doesn’t mean they want cheap products.

A new survey by McKinsey finds that Chinese consumers are spending on luxury items as well as services, and often do so when traveling abroad—where they sometimes find better prices.

You can listen to the McKinsey Podcast or read a transcript of the talk with McKinsey’s Glenn Leibowitz about the important trends emerging among Chinese consumers, and the opportunities—and challenges—they offer.

Fang Gong is an Associate Partner at McKinsey & Co., and the leader of their digital practice in Greater China. He is their expert on data analytics as a key to consumer insights. Daniel Zipser is a Partner who leads their Marketing & Sales Practice in China.

 

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China in the Tourist Spend Top Ten

According to the Office for National Statistics website, China stood at ninth place in the table of spending by overseas residents on a visit to the UK.

The USA led with a spend of £2,944m, with Germany, France, Australia, the Middle East (not including the UAE) and Spain (in that order) recording a spend of over £1,000m each.

Seventh was Spain, then Ireland, then China (Hong Kong and mainland), which hit £806m in 2014, up from £794m in 2013 and £533m in 2012.

China’s was the highest growth rate over those three years among the Top Ten countries.

In terms of actual visitors, China stood at 16th place, with 34,000 visitors in 2014. Bearing in mind the figure was 35,000 in 2013 and 34,000 in 2012, whilst the number of visitors remains at a steady figure, the increase in spend per head has risen considerably.

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