In addition to the Global Sources Sourcing Fair held in Shanghai and the new orders, Chen Xinmei, the general manager of Shanghai Siyuan Flavors and Fragrances Co., Ltd., is also exploring customer sources in Singapore, India, and other regions. As a professional in the fragrance and flavor industry, her company has been actively expanding its reach into emerging markets since 2009, where they found promising opportunities.
Chen Xinmei shared with reporters that she attended an exhibition in Dubai last June, which helped her gain access to a number of "new customers who were previously unreachable in China." This effort led to successful product launches in high-end hotels across the Middle East. She emphasized that these markets are still growing and offer significant potential for future business.
Many entrepreneurs share similar strategies with Chen Xinmei. There's a clear trend among export companies shifting from a passive approach—waiting for orders at home—to actively seeking out new customers in overseas emerging markets. These regions are now seen as crucial for future export growth.
According to data from Global Sources, a leading international media group, their procurement fairs in Dubai and Mumbai attracted over 1,100 and 800 exhibitors respectively in 2009—an impressive increase of 40% and nearly 120% compared to 2008.
Huang Tanwei, president of Global Sources Exhibition, explained that the reason many Chinese export companies are re-evaluating their market focus is because emerging markets have been less affected by the global economic crisis. He pointed out that exports to these areas show strong growth potential.
Data from the General Administration of Customs showed that in 2009, China’s exports to traditional markets like the EU, US, and Japan dropped significantly, while exports to countries such as India, Southeast Asia, and the Middle East saw much smaller declines, with some even showing growth.
At the same time, government policies promoting “going global†and the establishment of the China-ASEAN Free Trade Area have also played a role in encouraging enterprises to explore new markets. Zhang Yan, director of the Institute of Foreign Economic Research, stated that reducing reliance on European and American markets and tapping into emerging economies is a key path for future development.
The data highlights that China's exports to traditional markets like the US, Europe, and Japan account for 17.5% to 22%, but only 5.4% in Ukraine, 8.9% in Turkey, 9.2% in the Philippines, and 10.5% in India. In Brazil, Malaysia, and South Africa, it’s around 13%, indicating vast untapped potential in emerging economies.
Huang Tanwei revealed that after the fairs in Hong Kong, Mumbai, and Dubai, Global Sources will be organizing exhibitions in Singapore and South Africa this November and December to help Chinese exporters tap into ASEAN and African markets.
The good news is that Chinese products are highly popular in many emerging markets, with strong prospects. A survey of Indian buyers found that 87% plan to increase their purchases from China, and 30% expect a 20% to 40% rise in imports from China compared to the previous year.
However, challenges remain. In some cases, China competes directly with emerging market countries, and trade protectionist measures are frequently imposed against Chinese goods. Zhao Jinping, deputy director of the Foreign Economic Relations Department at the State Council Development Research Center, emphasized the need for stronger bilateral cooperation and resolving trade disputes through dialogue and policy coordination.
Huang Tanwei also advised companies to prepare thoroughly before entering new markets. They should understand local demand and bring suitable products. He added that opening up new markets is a long-term strategy, and initial expectations should not be too high. If participating in overseas exhibitions, companies should take a more proactive approach in product promotion and design to meet the needs of new customers.
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