{"id":12664,"date":"2023-07-06T14:30:39","date_gmt":"2023-07-06T14:30:39","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=12664"},"modified":"2023-07-10T08:13:12","modified_gmt":"2023-07-10T08:13:12","slug":"china-consumer-2023-how-british-brands-can-succeed-in-china","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/china-consumer-2023-how-british-brands-can-succeed-in-china\/","title":{"rendered":"China Consumer 2023: How British Brands Can Succeed in China"},"content":{"rendered":"

Over 200 delegates attended CBBC\u2019s flagship China Consumer 2023<\/a> Conference and Summer Reception, which took place on 4 July at London\u2019<\/strong>s No.4 Hamilton Place<\/h2>\n

At the Conference, attendees heard from speakers representing leading global companies, who discussed the current trends and future opportunities within the Chinese consumer landscape for British consumer brands.<\/p>\n

CBBC\u2019s Chief Executive, Andrew Seaton<\/strong>, introduced the event, saying that it would look at opportunities and challenges in the China market.<\/p>\n

\u201cIt has been a difficult few years with geopolitical challenges, the conflict in Ukraine and Covid restrictions, but we are now much, much closer to business as usual,\u201d he said. \u201cThere is more travel, more flights and a return of the trade fairs and exhibitions that help business.\u201d<\/p>\n

\"\"<\/a>Seaton said that there is now greater clarity on the UK\u2019s strategy towards China, quoting James Cleverly, Secretary of State for Foreign, Commonwealth and Development Affairs, who recently said that alongside protecting national security, we need to protect business.<\/p>\n

\u201cWe want British companies to do business in China just like American, ASEAN and European companies do,\u201d Seaton quoted Cleverly as saying. He went on to say that he hopes to see more UK ministers supporting business in China as now is a good moment to refocus on China.<\/p>\n

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CBBC\u2019s chief executive Andrew Seaton offered opening remarks at the event<\/p><\/div>\n

With UK-China trade accounting for \u00a337 billion, China is the UK\u2019s third-largest trading partner. Economic growth is the priority for the UK, and exports are a key driver of growth, with pharmaceuticals, healthcare, vehicles, and fashion among the key export sectors. As other export markets experience difficulty – the Eurozone is hovering around recession, and the US economy is predicting just 1.5% growth – China is essential not only to the economy but also to the 115,000-130,000 UK jobs that trade with China supports.<\/p>\n

However, Seaton noted that China is facing challenges with youth unemployment, overcapacity in the property sector, and slowdowns in some areas of manufacturing.<\/p>\n

\u201cAre we looking at a post-Covid boom?\u201d he asked. \u201cNo, but we are seeing post-Covid recovery,\u201d he said. A predicted 5% growth in the Chinese economy this year would account for a third of all global growth, which would have a huge impact on every other nation. He reminded the audience that Guangdong Province has an economy bigger than Canada, and Jiangsu Province\u2019s economy is bigger than Korea\u2019s. China\u2019s middle class is expected to double to 900 million and its high-income earners to reach 100 million, and by 2035 China is expected to be the world\u2019s biggest economy, creating a huge demand for British goods and services.<\/p>\n

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The first panel saw speakers from Burberry, Harrods, Fontraine Group and Diageo discuss the experiences of UK brands in China<\/p><\/div>\n

UK brand experiences in the Chinese market<\/strong><\/h4>\n

Antoaneta Becker, CBBC\u2019s Director of Consumer Economy<\/strong>, UK, hosted the first panel of the day, which saw speakers sharing experiences of what Chinese consumers wanted and expected from British brands. \u201cAfter being away from China for three and a half years, the changes I observed [during a recent visit] were more far-reaching than I expected, and the implications will affect all of us,\u201d she said.<\/p>\n

Becker highlighted three main changes:<\/p>\n