China presents an attractive market opportunity for EU SMEs. Its economy has enjoyed double digit growth for the past 20 years, and is now the second largest economy in the world. While growth has slowed in other countries over the past five years, China’s economy still continues to grow at around 7.5%. In order to reduce its dependency on exports and investment the Chinese government is pushing to increase domestic consumption as a percentage of GDP.
The intended change will bring about even more opportunities for EU SMEs who can position their products with their Chinese buyers in mind. This is easier said than done and will require EU SMEs to deeply consider their China marketing strategies; understanding their Chinese customers will be a start, but this will have to be followed by product adaption, overcoming language barriers, and accustomisation to local promotion channels.
With this in mind, the EU SME Centre in partnership with the China-Britain Business Council have written this report to prepare SMEs from the EU for the marketing challenges that they will face, allowing them to prepare stronger marketing strategies for the growing opportunities ahead.