A Joint Meeting of Birmingham Business Focus and Birmingham China Business Focus
As 2016 began with some concerns over the slowdown of the Chinese economy, the opportunities and risks for Birmingham was discussed during a joint event by the Birmingham Business Focus (BBF) and Birmingham China Business Forum (BCBF). The event was held on 23rd January 2016 in the Birmingham Chinese Community Centre.
Dr Yeow Poon, the President of England China Business Forum (ECBF) and Chair of the Birmingham Chinese Community Centre, presented an overview of macro economic factors and suggested that although there will be some short term and possibly long term pain for some industries, there are other areas of potential growth.
Three areas were highlighted. Firstly, even as manufacturing declined in China, the service industry has continued to grow and has overtaken manufacturing as a percentage of GDP. Secondly, the online shopping market in China grew at an annualised rate of 42.7% in the last 5 years and is expected to continue growing. Thirdly, China’s ambition to rebuild the Silk Road Economic Belt and the Maritime Silk Road will drive growth in Europe, Africa and Asia over the next 25 years.
The presentation was followed by a stimulating discussion and a Chinese meal provided by the Birmingham Chinese Community Centre.