Many Chinese manufacturing companies (mainly small & medium sized enterprises SMEs) are looking to expand to new continents, with increasing manufacturing capabilities & a desire to develop to their business being the catalyst for such confident growth.
At the world’s biggest industrial trade show, Hannover fair, just under a quarter of the exhibitors, came from China. Li Wenguang was interviewed, who is a sales chief of a manufacturing firm in China’s central Hubei province. According to Li, the company Hubei Planetary Gear Boxes, was has earned a strong market position in China since being founded in 2004. However he was not satisfied with the status quo of remaining in China and wished to gain more business.
For some Chinese SMEs, the purpose of expanding foreign business is not just for financial gain; Yanbeen Deng, vice president of Sure Instrument from Tianjin stated; ‘we also want to help promote our national brand and improve the reputation of Made in China”.
“Made in China should not mean low price and low quality” added Mr Deng, who went on to mention that the competitiveness of Chinese products increased enormously recently due to Chinese manufacturers’ flexibility in providing services and increasing investment in research and development. ‘We see more opportunities as our nation is more and more open to the outside world, and we are confident to join global competition and to win in foreign markets’.