Firms hoping to get China in their hands

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A delegation of some of China’s biggest retailers was visiting Yorkshire yesterday to meet luxury and heritage brands who are looking to enter the country’s growing luxury market.

Over 25 companies, including ASOS (China), Moda Mia, Net-A-Porter (China) and Wahaha, China’s largest beverage company, held one-to-one meetings with some of the region’s biggest brands at the Queens Hotel in Leeds.

The visit, organised by UK Trade and Investment and supported by Leeds University’s Confucius Institute, Leeds and Partners and China Britain Business Council, builds on a trade and investment mission, led by Leeds and Partners in January.

The trade and investment mission visited the major trade centres of Hong Kong, Shanghai and Beijing as well as targeting the strategically important cities of Xiamen, Guangzhou and Hangzhou.

It identified 23 Chinese businesses with an active interest in expanding internationally and 17 partnership opportunities with major international investment and trade organisations.

Lurene Joseph, chief executive of Leeds and Partners, said: “China is an economy which is rapidly reshaping, with an increasingly global outlook. The Renminbi is now a top 10 internationally traded currency and with the creation of the Shanghai Free Trade Zone and other free trade zones soon to follow, it offers significant opportunities for businesses in the city region.”