In December, all eyes were very much on China, during the State Visit of President Michael D. Higgins - the first State Visit to China since 2003. During the visit the President attended a number of trade related events hosted by Enterprise Ireland. This was a tremendous opportunity to highlight the success of Irish companies already doing business in China, as well as the opportunities for more Irish firms to enter this huge and growing market.
The Irish presence in China is growing, as more and more companies realise that having boots on the ground is critical to winning and sustaining business in this market. There are currently over 240 Irish owned companies exporting to China with approximately 90 having a direct sales presence in the market, ranging from a single person sales office to manufacturing operations with thousands of employees. Irish companies employ an estimated 10,000 across China in a range of sectors including aerospace, travel, food, ICT, education, financial services, industrial, life sciences and more.
A number of Enterprise Ireland client companies announced new business deals and partnerships during the State Visit. Cork-based Wilson Architecture has been awarded a major design contract by QiLu Pharmaceutical Company, one of China’s leading pharmaceutical companies. Luxcel Biosciences, together with their US/China partners MOCON (Shanghai) Trading Co, Ltd., a NASDAQ listed US company, have developed a ‘dairy industry game-changing’ platform suite of rapid microbiology testing products, under the GreenLight® brand, that will transform global quality and hygiene programs in milk and dairy production. And MicroGen Biotech has announced a Joint Venture in China with Shengli Oilfield Jindao Industrial Cooperation and Shandong Academy of Sciences. The estimated investment for the JV from Shengli Jindao will be €10m. The venture aims to clean up 12million acres of Chinese oilfield contaminated land.
Enterprise Ireland supports Irish companies to do business in China through its three offices in Shanghai, Beijing and Hong Kong, and through client events such as trade missions, trade fairs, market study visits and inward buyer visits (where Enterprise Ireland brings Chinese buyers from a particular sector to Ireland to meet with potential Irish suppliers). All this is helping to ensure the upwards trend in growing Irish exports to China continues. Exports to Greater China increased by 23% in 2013 – Hong Kong recorded an increase of 13% to €98.7m, whilst Mainland China saw exports by Irish companies increase by 34% to €349m – and all the indications are that the figures will have increased again for 2014.
To learn more about doing business in China visit Enterprise Ireland website
