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Doing Business In China
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28th April, 2016
Mark Hedley China-Britain Business Council
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China’s Transformation
Shanghai 1990
Shanghai 2010
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China – Macro Picture
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China United Kingdom United States
• 2nd largest global economy ($11.212 trillion) • 7% GDP growth target (2015)
• 75th by GDP per capita ($8,154)
China Vs UK & US GDP (1979 – 2014)
UK Exports to China
Exports valued at £14 billion in 2014 and now accounting for 3.2% of goods UK exports
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Chinese Investment In UK
£18 Bn Chinese investment in UK (2013-2014)
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The ‘New Normal’
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China’s Rebalancing
Long-term Policy & Planning
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Sector Opportunities
Healthcare ICT Energy,
Environment & Infrastructure
Retail & Consumer
Advanced Manufacturing
Financial & Professional
Services
Automotive & Transportation
Creative Industries
• Luxury • Food & Drink • E-Commerce
• Smart Transport • Intelligent Vehicles • Railway equipment
• Aerospace • Automotive • Transport • Robotics
• Telecommunications • Smart Cities • Internet of Things
• Life Sciences • Digital Health • Elderly Care
• Eco-cities • Smart Energy • Cleantech
• Banking • Insurance • Fintech
• Film • Music • Gaming/Apps
Urbanisation
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The Chinese Consumer
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Digital China
688 Internet Users
China has the largest elderly population in the world with 194 million people, or 14.3% of the total population aged above 60 at the end of
2012 and over 300 million estimated by 2024.
China’s Ageing Population
Health Stats
3 million newly
diagnosed cancer
patients
2.2 million cancer deaths (27% of global
total)
230 million cardiovascular
disease sufferers
114 million adult diabetes
sufferers
Obesity rate of 5% (but 8%
for urban children!)
1.2 million deaths per year due to
pollution
Elderly Health Stats
Healthcare Spending
Policies 2009 Healthcare Reform Plan - ¥850 billion ($124 billion) investment to extend
basic healthcare access to 95% of China’s 1.3 billion people
The National Planning Guideline for the Healthcare Service System (2015–2020)
Healthcare Sector Reforms
Key Government Departments State Council National Development and Reform Commission (NDRC) Ministry of Health (MOH) Regional Governments
Number of hospital beds for every 1,000 people
Public hospitals Private hospitals
Current3 By 2020 Current By 2020
4.55 6 0.52 1.5
Opportunities
Elderly consumers account for £45 billion of China’s £65 billion pharmaceuticals market
Elderly nutrition and health food products market predicted to be worth £125 billion by 2020.
52 million internet users over the age of 50. Growing market for digital tech
The Chinese medical device market valued at £27 billion, growth driven by ageing society
Growing market for insurance, pension, housing/ care homes, travel, leisure & entertainment
Digital Health
•Transformative
health technologies
•Electronic records
•Telemedicine,
Telehealth
•Big data
Hospital Solutions Elderly & Social Care Training & Education
• ‘Turn-key’ hospital
solutions
•UK-based care
•Professional
services
•Operations
•Licensing and
franchising
•Design and
planning
•Operations
Management
•Residential /
community /
domiciliary care
•Bespoke Care -
dementia
•UK-based
•New schools in
China
•Hospital-to-Hospital
•Online courses
•Train the Trainer
Healthcare / Life Sciences Opportunities
Pharma
•Drug Production
• Drug R&D for
discovery /
development
Medical Tech Genomics
• IVD
•Devices, Disposables
•Specialist Turn-Key
Installation Packages
•Gene Sequencing
Technology
•Stem cell
•Regenerative
Medicine
R&D
•Contracted Research
•JV Partnerships
•Experimental and
clinical trials
Business Challenges - Regional Diversity
Navigating Government
City and Town Offices
Small City and Town Policy - 2,000+ Small Cities and Towns
Prefecture Level City Bureaux
City Policy - 287 Prefectural Level Cities
Provincial Departments
Provincial Policy - Provincial Capitals
Government Ministries
National Policy - Beijing
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Setting Up in China
• Appoint an Agent or Distributor
• Establish a local presence
o Representative office
o Wholly Foreign owned enterprise (WFOE)
o Licensee
o JV
o Sell direct (online presence)
o Other – Launchpad
Regulatory IPR
Due Diligence Getting Paid
Tax Planning HR & Staffing
Corruption Bureaucracy
Competition Funding
Practical Challenges
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Understanding the Market
• Limited availability of reliable market data/insights
• Market size and complexity – many markets and sub-markets
• Free resources – UKTI, CBBC, EU SME Centre, MOFCOM, National Bureau of Statistics, published reports (McKinsey, PwC Etc.)
• 3rd party research agencies (bespoke research)
• Trade missions (UKTI, CBBC, Trade Associations)
• Overseas Market Introduction Service (OMIS)
• Things to research: market size & structure, location of industry, regulatory barriers, regional trends, consumer preferences, routes-to-market
• Are you ready for the market; and is the market ready for you?
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Chinese Culture
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Key Concepts
Confucianism Guanxi Face
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Chinese Business Culture
Meetings & Negotiations
Giftgiving
Banqueting
Business Cards
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China-Britain Business Council (CBBC)
• The leading organisation helping UK companies do business in China
• Established 1954
• Membership organisation, with over 1,000 members
• Network of 23 offices across China and the UK
• 130 staff, including 92 based in China
• Advice, Support & Networking
• Serving companies of all sizes in all industry sectors
• ‘Merged’ with British Chamber of Commerce in Beijing
• UKTI strategic partner
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Q&A
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Thank You!
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