There are 21 Chinese-owned companies in Wales employing more than 2,500 people. This includes Northern Automotive Systems, global manufacturing company TongFang Global, innovative start up Shunxi Stem Cell Engineering and Acerchem.
Historically, China has been ranked amongst Wales’s top 20 export destinations. But Welsh exports to China have grown significantly from nearly £194m in 2012 to nearly £313m in 2017 and there is no doubt that it is a hugely significant market.
The Welsh Government has three international offices located in Beijing, Shanghai and Chongqing. The international offices are responsible for contributing to activity in the fields of trade and investment, government relations, tourism, culture and education. They build and maintain relations, facilitate business meetings and deliver a programme of activity to promote Wales as a place to invest, do business, work, study and visit.
Economy Secretary, Ken Skates visited Hong Kong and Shanghai in 2018 to strengthen trade links with China and to promote Wales. In fact, the Welsh Government has made a number of trade missions to China in recent years demonstrating the importance of Chinese business. You can read more on the Welsh Government website.
Through various trade missions to China and reciprocal visits, a number of successful partnerships have been developed including:
- Chongqing Tianhai Medical Equipment Company and Enfis from Wales signed a joint venture contract. Tianhai now has a representative office at Swansea University.
- A Chongqing Low Carbon Research Centre has been set up in partnership with Low Carbon Research Institute (LCRI) Wales.
- Chongqing Academy of Science and Technology have set up an office in the Swansea Technium.
Although Wales, compared to China is a small country at 21,000 square kilometres, it does have a lot to offer. Companies looking to establish a base in the region will find Wales an ideal location through our emphasis on education, research and services and the full support of the Government.
[Economy Secretary, Ken Skates talking business with Acerchem International Chairman Frank Chen]
Visit our business pages to find out more.