This morning, Herts
Chamber of Commerce held an exclusive meeting with the Chinese Delegation of Chengdu, discussing how
two economies, one needing exports, the other needing imports, are able help
each other. The highly positive results pave the way for small Hertfordshire
businesses engaging in one of the fastest-growing economies in the world.
The expansion of Shanghai raced along at a rate previously unimaginable. Now China
has another up-and-coming superpower on its hands.
Chengdu: keep an eye on that skyline (source: Wikimedia
Commons)
Introducing
Chengdu,
the city whose growth is currently at an astonishing 12-15%. Let that figure
sink in. Similar to the rest of
China,
Chengdu is well-versed in exports, but it
currently wants to grow imports, the opposite of the
situation in the UK.
In addition, Chengu’s
primary industries match Hertfordshire’s to a tee, those are:
-
Food, drink and leisure
-
Healthcare and education
-
Automotives
-
Property & construction
-
Expansion in green technology and IT
From the meeting this morning, Chengdu’s government want the business of
small-medium enterprises (SMEs), of which Hertfordshire has many. Even
businesses with two or less employees – which account for 40,000 out of 55,000 registered
companies in Herts – are welcome, as globalisation may hold the key to success
for small-scale set-ups, both start-ups and well established enterprises.
After the meeting: the presentation of pandas
Links between the region and Chengdu
have never been stronger, with British Airways recent opening of a direct link
between London Heathrow and Chengdu
Shuangliu Airport,
resulting in an impressive 11 hour trip.
Furthermore, moves by GSK’s Herts-based operations into the city’s
economy will lay foundations for SMEs – whom our new friends are most
interested in - to take full advantage of the copious opportunity now at their
disposal.
Neville Reyner, ex-head of the British Chambers of Commerce,
current-head of University
of Hertfordshire’s
business school, successfully identified two key areas, which were welcomed
unanimously:
- For
the Hertfordshire’s thriving clean-tech industry to expand into Chengdu, using
technology to improve the CO2 footprint of homes
- Greater
student-exchange links for those in education and healthcare, opening access
for English students to one of China’s most rapidly expanding
cities
Thirteen people (including our wonderful interpreter, who took the shot) were involved in the high-impact discussion
With geographical difference, it is still easy to underestimate
the potential rewards of expansion, especially for small-medium enterprises.
However, with a combination of modern technology and newly-formed links between
Herts and a city whose sights are set on the county, the time for local
enterprises to dip their toes in overseas markets is now.
