China to increase UK trade by 50%
Britain and China have announced plans for a significant boost in trade levels between the two countries.
Speaking to reporters after talks in Beijing, UK prime minister Gordon Brown revealed that he and Chinese premier Wen Jiabo have jointly agreed a target of a 50% rise in trade by 2010.
If successful, it will see Anglo-Sino trade climb from last year’s £20 billion ($40 billion) up to £30 billion ($60 billion) over the next two years.
“I believe that tens of thousands of jobs in Britain … can be created by the closer co-operation between our two countries. ” commented Mr Brown, adding that he wanted an additional 100 Chinese companies investing in the UK by 2010.
He also poured cold water on the suggestion that it was only products rather than services that the UK could offer to China.
“It’s true we are able to sell to China not just financial and business services … but also a whole range of British brands that are now becoming very popular among the rising number of Chinese consumers. We want Britain to be the no. 1 destination of choice for Chinese business as it invests in the rest of the world.”
Chinese Internet users continue to rise
The news of the government targets coincides with an announcement from the China Internet Network Information Centre (CNNIC) that China’s Internet population has now risen to 210 million.
The increase in Internet users (up an unprecedented 73 million on last year’s 137 million) and the proliferation of the Chinese consumer means a larger percentage of the trade between the two nations is likely to be conducted online, raising the importance for businesses in each country of an effective web presence in their target market.
To find out more about the current state of online China and for information on what is required to establish a successful website for the Chinese market, read our dedicated China Search Marketing section.
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