Country more than a place for 
low-cost 
labour

Giles Blackburne, who is based in Leeds, said UK businesses should not be put off by the slowing of growth in China as it is “a long-term market”, adding: “The main key change there has been is recognising that China is a huge domestic market now rather than just a location for low-cost production.”

Many companies, he said, have been inspired by the success the luxury sector has seen in supplying Chinese consumers and hope to reap the benefits in their own sectors.

The China-Britain Business Council (CBBC) helps UK companies grow and develop their business in China by offering a range of services.

Mr Blackburne said: “All growth comes in cycles. The interesting characteristic about China is that you have a country of continental size so cities and areas of China are growing much faster than others, and others are slowing down. So I think generally my view is that the outlook for China is still very favourable.”

The significant investment that has been made in the country’s infrastructure can be capitalised on, he said. “Over the years many large multinational enterprises have gone to China and started manufacturing for the local market and now the local market is growing successfully and this is a pull for all those other companies in their supply chains to go over to China and supply to their global customers.

“Then there is the idea of the growing middle class in China. The consumers that want to buy all kinds of foreign goods whether they be luxury ones or food and drink or healthcare products.”

In addition, China needs service providers, ranging from professional services such as financial and legal services, to creative industries such as advertising, he added. “China is a long-term market and just like any place there are troughs and crests.

“Anyone who looks at China over the past 25 years will just see an astonishing growth with the curve going upwards.”

He added that people seeking advice from CBBC are now more informed about China than they were in the past as they have become familiar with the country as a global player.