Connecting to the East
In July 2012, Lord Wei produced a report for Greater Manchester which set out findings and recommendations on how the that city can benefit from a “Going Out” and “Grow East” strategy – boosting Greater Manchester’s trade with China.
China is a huge market, for all kinds of goods and services. It continues to experience strong growth despite a recent slowdown, and will continue to double in size every five to seven years even at slower rates of development than before. As such, in an era of lower growth for the UK and Greater Manchester, it represents a significant opportunity not only for outbound exports but increasingly, for inward investment as Chinese firms and investors pursue the Chinese Government led “Going Out” strategy and broader connectivity, such as more students and visitors.
The report called for an integrated strategy for Greater Manchester to increase its engagement with China and made recommendations to help manage the risks involved, and make it easier for businesses to achieve what they want to achieve.
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