GovWire

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 UKs 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.

This includes:

• 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

Background

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 Jinpings state visit to the UK in October 2015.

Contacts

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