Ningbo companies eye emerging markets

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Category: Ningbo News

Published: Tuesday, 15 January 2013 09:39

The Annual Convention of Ningbo Foreign Trade Association was held on Tuesday. Representatives form nearly 200 foreign trade businesses participated in the conference, expressing their concern over the foreign trade situation in 2013.

Foreign trade businesses always show more sensitivity on the global import and export market. "We usually classify orders we obtained after October 2012 as orders in this year, and statistics show we are facing shrinking orders now," said Shu Yueping, the Chief Executive of Ningbo Guangbo Group. Wang Genhai, Chairman of Ningbo Zhongke Import & Export Co., Ltd. also said that the growing rate in the exports of all kinds of professional boots is slowing down.

Sang Baichuan, head of Institute for International Economics in the Foreign Economic and Trade University, said on Tuesday that the overall situation this year is not optimistic, but it will be better than 2012. Sang pointed out that Ningbo, as one of the first open trade region in China, will face more challenges. "China will shift its opening-up focus and continue to promote opening up in its inland areas this year."

Amid the grim market, many local exporters made active response by developing emerging markets. "Thanks to the contribution of emerging markets, we managed to keep the entire export market in 2012 basically flat with the previous year. The South American market itself increased by 20 percent last year," said Shu Yueping, "Through research we found that Ningbo still has enormous potential for emerging markets. We will strive to develop several emerging markets including Russia and South America as supplements to the existing U.S. and European markets. "

In addition, many local exporters choose to open overseas branches. During the just-finished Christmas shopping, in Cape Town, the second largest city in South Africa, a department store owned by Ningbo Market Union Co., Ltd saw booming business. During the first three quarters of 2012, the company saw a year-on-year growth of about 30 percent in exports and the annual export volume is expected to exceed 300 million U.S. dollars. The company also strived to expand the international market through opening retail stores abroad, visiting overseas customers and participating exhibitions.