Where Am I?
 
More In This Section
 
Tag Cloud
 

Chinese demand for British goods jumps, reports China Central Television

BritCham / CBBC
Do you like this article? Share it with your friends!  
Like! Tweet! Weibo Share on LinkedIn
 

CBBC director Fenella Barber was recently interviewed by China Central Television to discuss the enormous potential of the Chinese consumer market, in light of CBBC's latest report, "China's Middle Income Consumers".

Click here to watch the TV report on the CCTV News website (2m 16s)

CCTV News, 18/02/15

The Year of the Sheep could be the beginning of a decade-long trading boom for British exporters. That's according to a survey by the China-Britain Business Council that identifies China's new urban residents as a key growth market for the foreseeable future. 
 
China's cities are expanding at an astounding pace and that means more shoppers, many more. The CBBC says that 720 million people in cities across China will triple their household consumption within a decade.
 
"Right now there's 160 cities in China with populations over a million. In America there’s less than 10 of that sort of scale. All of those have high streets that are in need of British style products and services that will be targeted at the Chinese consumer," said Fenella Barber, retail director of CBBC.
 
China's urban population’s is expected to grow by an estimated 100 million people over the next five years and the CBBC is urging British exporters to cash in.
 
"There’s definitely a lot of opportunities in China, but of course you really need to understand consumers to work out and find the right way to target them, so you can find success in China," said David Zhang, senior research analyst of Mintel.
 
UK exports to China already top $1.5 billion dollars a month. And that market will soon advance from offering just high-end products to providing goods that meet the daily needs of China’s new middle-income consumers.
 
Perhaps one of the biggest surprises brewing is the increased amount of English tea exported to China. The UK Export Institute says that last year saw a 30-percent increase in tea sales to China.
 
"Not only are we selling a lot of tea to the Chinese, we’re selling a lot of pork to the Chinese for their own cooking and we’re making a lot of soy sauce that we then sell back to the Chinese," said Barber.
 
British exporters are hoping that tea, pork, soy sauce and high-end luxury goods are just the entering point for the Chinese consumer market during the Year of the Goat and beyond.
 
Follow us