Posted: Wednesday, August 20, 2008, 1:50PM
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British firms still coasting in China
British companies are failing to grasp the opportunities on offer in China by not looking beyond the established centres of Shanghai and Beijing, a new government funded study has found.China is currently Britain's fastest growing export market, but the report suggested that there was still little activity outside the four major cities of Beijing, Shanghai, Guangzhou and Shenzhen.
Companies operating in China have been hit by hikes in labour and production prices in recent months and the latest findings come as the Chinese authorities take increasing steps to encourage foreign, and domestic, businesses to move away from the traditional coastal centres.
"In the larger coastal cities, growth is slowing, competition is intensifying and costs are increasing," said Lord Digby Jones, Trade and Investment minister.
"Cities outside these 'hotspots' offer some of the best business environments for UK companies to consider."
The study, carried out by the University of Leeds and the China-Britain Business Council, identified 35 other cities of more than one million people where the infrastructure and economic environment were conducive to foreign investment.
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