Beijing salesman Xiao Cao loves dark chocolate. Every time he
goes abroad he stocks up, because the premium chocolate is
difficult to find in Beijing.
Thousands of Chinese like him buy clothing, foreign food and
cosmetics overseas because the products are either seldom seen in
the Chinese market or are priced out of reach even if China has
been recognized as a major world manufacturing center.
Behind China's yawning trade surplus, which has frequently been
raised since 2005, only a few have realized the huge consumer
potential for imported goods in China.
Instead of complaining about "Made in China" products flooding
their markets and causing job losses, foreign companies should turn
their attention to tapping the Chinese market with their
products.
There is strong demand in China for energy-saving and
environmentally friendly technologies, products and equipment.
But big breakthroughs in this sector may be difficult to achieve
given that some of these products and technologies are subject to
export control policies from trade partners like the United
States.
Meanwhile, there is also demand from Chinese consumers for a
wide range of top-quality foreign products.
Foreign goods exporters are sometimes too cautious in the
Chinese market, compared with aggressive foreign banks and other
service providers who demand larger market access from the
government.
Although top luxury brands are striving to expand in
metropolises in the country and many supermarkets are using
imported goods to attract customers, imported goods still make up
only a small part of China's consumer market.
But from this spring, foreign exporters will have a new platform
for the first time they will have their own booths at China's
largest expo, the Canton Fair.
The move will see foreign exporters get less than 1 percent of
the expo space allotted to domestic exporters at the fair. While it
may not have much overall impact, it's a good start.
(China Daily March 27, 2007)