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Connecting to China: Trade research update
The China International Import Expo (CIIE) is the largest import expo in China, drawing hundreds of thousands of attendees annually. To mark CIIE’s sixth year, and the first since covid restrictions in China were lifted, HSBC conducted a survey with over 3,300 companies from 16 major economies that do business in China or intend to do so in the future.
The findings from our sixth annual CIIE survey reveals a nuanced outlook on international firms’ evolving relationship with China, as the country emerges from the pandemic and faces macro-economic headwinds, while combining long-standing fundamental strengths with growing expertise.
International firms see continued opportunity in China, particularly in relation to global supply chains, sustainability and the digital economy:
China retains a central position in global supply chains despite escalating trade tensions. 73% of respondents expect to increase their supply-chain footprint in China over the next three years
International businesses recognise China’s strength in the technology sector with 33% stating that China leads in e-commerce, 32% regard it as a leader in AI & machine learning, and 31% believe China leads in digital payments
Over the next 12 months, 52% of respondents say that their businesses will be offering environmentally-friendly and energy-saving products, while 45% plan to offer recyclable products
Research was conducted across 16 markets: US, Canada, Mexico, UK, France, Germany, UAE, Malaysia, Singapore, Australia, Vietnam, Indonesia, Thailand, Philippines, Japan, and South Korea.
Connecting to China - Digitisation and sustainability drives future growth
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