IT’S the right time for Cebuano exporters especially those belonging to the small and medium enterprise sector to look for opportunities in China.
Henry Hwang, chief executive officer of Business One Global Trade Center (BIGTC), gave this advice to the exporters during last Wednesday’s business briefing at the Waterfront Cebu City Hotel and Casino.
B1GTC is a part of the Global Trade Center Holdings network, which is the first to provide integrated one-stop trading services for international manufacturers entering into the Chinese market. Their services includes exhibition, logistics, order solicitation, trade financing, tax, accounting and legal consulting.
He said the exporters couldn’t simply overlook the Chinese market especially with its population base of 1.4 billion people.
“Right now, there are a lot of opportunities for small and medium international enterprises to enter China because the major brands can only do so much. And not everyone in China can afford luxury brands,” Hwang said.
“In China, they don’t look at the brand, they buy anything imported because they don’t like to buy the local brands because of safety, quality and credibility issues,” he said.
He also cited the Chinese government’s reduction of import taxes as a sign of its support and encouragement for more international brands to trade in the country.
“Furniture, home décor, fresh and processed food products and seafood are just among the most in demand products that Cebu can start trading in China,” said Hwang.
According to the B1GTC data, fashion products sales increased from $68 billion in 2008 to $110 billion in 2010. Imported fashion accessories entering the China market also increased from P11.85 billion in 2009 to $18.8 billion in 2010.
“Filipinos excel in gifts and home décors. And given the right market approach, your products can be well appreciated in China,” said Hwang.
The BIGTC data also showed that imported furniture sales in China also increased from $1.94 billion in 2009 to $3.25 billion in 2010.
“Philippine-made furniture is in demand in China and people are more status conscious now and most Chinese now have higher purchasing power,” said Hwang.
He cited the booming real estate industry in China and other related industries to help sustain the demand for more imported furniture./Reporter Aileen Garcia-Yap