Trade between China and Leeds City Region strengthened

Leeds City Region has strengthened its ability to trade with China through a series of agreements to stimulate trade with the port city of Qingdao, which has a GDP of one trillion yuan, is home to nine million people and is well known for producing Tsingtao beer.

During the visit to Qingdao, a Leeds City Region delegation has signed two Memorandum of Understandings (MoU) with partners in the city to help and encourage businesses to enter the fast growing Chinese market. This forms part of a week-long trade and investment mission to China, which has also included visits to Leeds’ twin city Hangzhou and Hong Kong.

The first of the two agreements was signed with the China-Britain Industry Innovation Park (CBIIP) which is the first co-operative industrial park between the Chinese and British government and is spread over 15 square kilometres. The park, opened in November 2017, aims to strengthen bilateral cooperation and exporting opportunities between the two nations.

As a result of this, local businesses will be able to access free space to showcase products and services within the CBIIP to an influential audience of investors and professional buyers for two years.

A second MoU has been signed with the China Council for the Promotion of International Trade (CCPIT) to increase trade opportunities between Qingdao and Leeds City Region through a co-ordinated programme of activity.

Cllr Judith Blake, Leader of Leeds City Council said: “It is crucial for businesses in Leeds City Region to position their products effectively within this vast marketplace and seek out trade and collaboration opportunities. That’s why I am delighted that we have signed a Memorandum of Understanding with the CBIIP and the CCPIT in Qingdao which I believe will help our businesses enter this fast-growing economy.”

Cllr Shabir Pandor, Leader of Kirklees Council said: “The scale of opportunity for business in our region to trade with China is significant. Successful Huddersfield companies ConnectChina, Fired Up and Scala Consulting have all grown their business from targeting this market. Signing this agreement gives other companies in our region a low risk way to showcase their products and build collaborative relationships.”

Xuechao GAO, Project Director, China-Britain Innovation Industry Park said: “The MoU will build a long-term friendly relationship, promoting stable, mutually beneficial political and business connections; enhancing practical cooperation in economy, trade, creativity, culture, life science, finance and other fields. Companies from Leeds City Region will enjoy marketing assistance and investment facilitation provided by CBIIP. Next year, both two sides will look for opportunities to hold promotional events for each other.”