Experts highlight markets in China

ex-deputy prime minister on panel

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FORMER deputy prime minister John Prescott joined an expert panel in Aberdeen last night for an event aimed at demonstrating to local businesses the opportunities in one of the world’s fastest-emerging superpowers.

The event, which was organised by the Confucius Institute for Scotland, targeted small to medium-sized enterprises and featured high-profile speakers who have experience of doing business with China.

Included in the line-up for the event, held at Aberdeen University’s King’s College, were Sir Richard Needham, deputy chairman of vacuum cleaner manufacturer Dyson; Lance Browne, vice-chairman of Standard Chartered Bank, Shanghai; and Mr Prescott.

The event was designed to help small businesses explore the market opportunities in China, a country which has been responsible for a third of world economic growth since 2000.

Frances Christensen, general manager of the Confucius Institute for Scotland, said the group’s aim with the event was to “stimulate and assist” businesses in “developing and progressing plans to engage with China”.

She added that Mr Prescott and his panel intended to provide insight for local businesses on how they can exploit opportunities in the “rapidly developing market”, particularly in sectors such as tourism, food and drink, consultancy and education.

Dr Neil Munro, secretary of the Aberdeen Chinese Studies Group and senior research fellow at the university, said: “China’s importance to the global economy, especially in the current financial climate, cannot be overstated. Learning how to tap into this market is important for every business, small or large.”