Around 80 British specialist mother and baby goods companies met with 14 Chinese Cross-border platform businesses on 23 March 2016 at Bank of China UK’s London office. More than 120 business meetings took place during the match-making event.
China is a potentially lucrative market for UK businesses catering to mothers and children due to:
- growing affluent middle class
- the ending of its one child policy
- strong demand for safe, high-quality baby supplies
The UK-China retail and e-commerce seminar and match-making event followed the launch of the Bank of China and UK Trade and Investment (UKTI) White Paper on Cross-border E-commerce Service.
Benefits of businesses trading via the cross-border e-commerce platform are:
- significant drop in final sales price
- reduction in branding and promotion costs
- increased market penetration
White Paper on Cross-border E-commerce Service
The White Paper on Cross-border E-commerce Service was jointly prepared by the Bank of China and UKTI.
It outlines the benefits that can be gained by adopting a structured approach to e-commerce market entry. The White Paper aims to provide an informative background to assist British enterprises who intend to cooperate in cross-border e-commerce ventures with China.
- an overview of Chinese national policies and guidelines
- information on relevant Bank of China products and services
- an explanation of the importance of Chinese pilot cities project in cross border e-commerce
The White Paper was launched in the presence of:
- Baroness Anelay of St Johns DBE, Interim Minister of State for Trade and Investment
- Mr. Xu Luode, Executive Vice President of Bank of China Group
- Weimin Guo, General Manager of E-finance of Bank of China
- Mr. Yu Sun, CEO of Bank of China (UK) Ltd
- Minister Jian Ni, Minister-Counsellor, Chinese Embassy to the UK
The Bank of China partnered UKTI in hosting the first ever China-UK cross-border e-commerce cooperation roundtable in Shanghai in September 2015. This was followed by an inaugural cross-border e-commerce exchange event in New Zealand during November 2015.
Bank of China and UKTI successfully held the first China-UK Small and Medium Enteroruse (SME) match making event in Manchester during President Xi Jinping’s state visit to the UK in October 2015.