Although the economic performance of the BRIC (Brazil, Russia, India, China) countries hasn’t quite lived up to the hype of a few years ago due to a myriad of factors, everyone agrees we shouldn’t discount China just yet.
In fact, China is evolving at a stunning pace. All sectors of its economy are growing, the demand of the middle class for Canadian products is constantly increasing and there are incredible business opportunities for Canadian companies. But to seize such opportunities, there’s very little room for error.
That’s why the Canadian Chamber of Commerce, in collaboration with the Canada-China Business Council and the Y20 Canadian Young Entrepreneurs, organized a roundtable that was held today in Shanghai, where businesses of all sizes shared strategies and ideas on how to navigate and succeed in the challenging Chinese market.
In particular, Canadian Chamber member companies discussed their experiences with entering the Chinese marketplace with Canada’s next generation of business owners and corporate leaders, giving them valuable insights and advice. Participants also heard some innovative suggestions and thought-provoking questions from entrepreneurs and SME owners.
The main takeaway of the discussion was that China represents an opportunity for businesses of all sizes if the conditions are right and if they are willing to put in the efforts and build the relationships. Their strategies can vary, but the basic fact remains: Canada has to lay the groundwork for a stronger relationship with China.
The Canadian Chamber delegation and the Y20 Canadian Young Entrepreneurs are both in China to participate in their respective summits, the B20 and the Y20, taking place ahead of the upcoming G20 Leaders’ Summit.