27 November 2009

Sheffield businesses learn how to trade in China

Local businesses were given a master-class at the University of Sheffield on Wednesday 25 November 2009 to highlight the benefits of developing trade links with China as part of a bid to embrace the concept of a `global factory.´

The event, entitled China – The Global Factory, was organised by the Sheffield China Business Network and took place at the University, in association with the Confucius Institute and the White Rose East Asia Centre.

Professor Keith Burnett, Vice-Chancellor of the University, chaired the event, which featured talks from the Master Cutler, James Newman, who provided a perspective from the Sheffield manufacturing industry.

The keynote speaker at the event was leading expert on business in China, Professor Peter Buckley, from Leeds University Business School. He introduced the idea of the `global factory´, developed after studying the Pearl River Delta in Southern China adjacent to Hong Kong, China´s fastest growing area over the last 20 years. Mr Buckley also outlined how local companies in all sectors can benefit from these global changes, and how they might influence company operations in China.

The Sheffield China Business Network is led by Creativesheffield and partners across the city, and exists to help Sheffield companies overcome barriers to trade with China, and to help them benefit from this growing market.

Professor Keith Burnett, Vice-Chancellor of the University of Sheffield, said: "The University of Sheffield is delighted to hold this event and to showcase the University´s world leading expertise on China found within the Confucius Institute and the White Rose East Asia Centre.

"To succeed in the Chinese market, Sheffield companies need to understand local cultural context and this is where the University of Sheffield can help."

Professor Buckley said: "China´s continued economic growth is unprecedented, and the country is rapidly becoming a factory to manufacture products from companies across the rest of the world. This presents many opportunities for business, and it is important Sheffield companies are able to make the most of these opportunities."

Mr Newman said: "Sheffield is world renowned for its manufacturing industry, but there is always more that can be done to boost international trade. With the Pound having lost around a third of its value against the Euro and Dollar recently there is no better time for companies to export."

Andy Cantrill, Chair of the Sheffield China Business Network and Senior International Business Manager at HSBC, said: "The Chinese economy is one of the few economies to continue to grow rapidly despite the global recession, growing at around 6 per cent a year. Despite China´s growth many of our manufacturers are concerned about engaging in the Chinese market due to concerns about a vastly different business culture and concerns about intellectual property."

Daniel Klemm, Head of International Relations and Trade at Creativesheffield commented: "China is a major player in the global economy and it is vital that Sheffield businesses understand the best ways to trade with China. By 2050, China is predicted to be the world´s largest economy and purpose of this event was to help Sheffield businesses get that competitive edge in China."