Canadian businesses are increasingly looking at China as a future growth market to sell and export their products and services, according to findings from HSBC’s first Navigator: Made for China survey. In September, the survey canvassed 1,205 small and large companies in 11 key global economies that already export to China or are considering doing so. The results showed that three out of five (58%) of Canadian businesses surveyed believe China will be an important market for future sales or exports. And among those Canadian businesses surveyed that are currently not selling or exporting to China, slightly under one-fifth (16%) are likely to expand into China in the next three to five years. International businesses believe that technology-related products and services will achieve the fastest growth in China, reflecting the sophistication of Chinese consumers and their demand for products that can enhance their lifestyle. Among Canadian respondents, 38% said that exports in the technology services sector (such as information technology, biomedical technology, big data, and artificial intelligence) would grow the fastest. High-end intelligent equipment such as that found in the ‘Internet of Things’ (30%) and consumer electronics (24%) were also identified as expected leaders in export growth to China.
This article was originally published on the Asia Pacific Foundation of Canada’s website here – https://www.asiapacific.ca/news/hsbc-navigator-chinese-consumers-want-canadian-made-goods