Sinowei is opening its second Import Pavilion in China, strengthening opportunities for Western companies to trade with the world’s fastest-growing market.
Just one month before Chinese epidemiologists identified a new virus causing pneumonialike illness, Sinowei were officially raising their flag in China. In November 2019, the first Sinowei Import Pavilion launched in Shanghai – the capital of China’s business and economic development. No one could predict what happened next…
Hope and prosperity in the Year of the Water Rabbit
After a three-year saga of the most exceptional challenges modern trading has faced, Sinowei have welcomed 2023 with the same energy as the Chinese water Rabbit: hopeful, prosperous and set for longevity.
“Once I visited, I was blown away by the scale of Shanghai. It wasn’t long before I was completely sold on the idea to set up a business in China.” – Gerry O’Reilly, CEO & Founder of Sinowei.
While many companies retreated into local markets, some have still been able to develop their China pursuits. Utilising team divisions across UK, Europe and China – Sinowei are continuing to establish opportunities for their Western clients.
Despite restrictions on inbound travel, the Sinowei team were able to represent client brands at trade fairs throughout the country, from Hainan to Shandong, building brand awareness and developing sales opportunities.
This month, Sinowei will extend their physical presence in the country, opening a second import pavilion in the city of Hangzhou – just 100km from Shanghai. Having offline touch points is essential for long term brand building; An engaging space for buyers and consumers to sample and learn more about Western products.
Sinowei’s CEO spoke about his decision to set up a permanent presence in the country, “It’s virtually impossible to win business and connections in China without having a base and team in the country.”
While easing covid-restrictions has seen a surge in travellers returning to the nation, the physical barrier was only one of many challenges companies faced – even prior to the pandemic.
“Due to the distance, culture and language, a Western based, non-Chinese speaking businessperson has little chance of succeeding. It takes a full commitment to the country and all aspects of its culture to win business.”
As a Chinese company, Sinowei have obtained official licenses to import and export goods from China. They also have Chinese bank accounts which allow for trusted payment transactions, both online and offline.
This month’s “reopening” of China draws similarities to their transition into globalisation in the late 1970’s. Although this time, we know the extent of China’s contribution to world commerce.
The never-before-seen annual growth rate was viewed as an inevitable boom and bust cycle. A pace described by the World Bank in 2019 as “the fastest sustained expansion by a major economy in history.”
However, China’s unique conditions, i.e. large labour force, low subsidies to the population and a rather decentralized economic system – all contribute to ongoing success and adaptability.
With ongoing uncertainties caused by Brexit, the war in Ukraine and inflation, China has proven itself intrinsic to maintaining fluidity in global supply chains.
Whether it’s exporting, importing or sourcing – the capacity for growth will see Western companies revisiting Chinese prospects which may have fallen away during the pandemic.
Discover your China opportunities for 2023 on a free consultation with a member of the Sinowei team.