A joint round table of Leningrad region and Shandong province of the People’s Republic of China took place in Saint Petersburg.
Presentations of Chinese companies and investment climate of Leningrad region, networking – everything was organized for creation of new opportunities for business of our region.
Trade and Economic Consul of the Consulate General of the People’s Republic of China in Saint Petersburg noted that relations between our countries are actively developing. China is open and welcomes quality competitive goods from all countries.
In 2018 Shandong occupied the third place among all Chinese provinces in terms of the volume of gross regional product. GRP of the province came to 1.1 trillion USD in 2018 which is 6.4% more than in 2017. As it was noted, 140 companies of the province carry out economic activities connected with Russian market. Relations with Leningrad region can be actively developed on this basis.
Economic Development Agency of Leningrad Region and Chamber of Commerce and Industry of Shandong province signed a memorandum on cooperation. Russian and Chinese companies had an opportunity to discuss cooperation during a networking session.
Director of Economic Development Agency of Leningrad Region Andrey Sergeev noted that the Agency pays much attention to establishment of contacts between Chinese partners and regional enterprises. Leningrad region is an industrially developed region with unique geographical advantages which offers interesting conditions for foreign investors.
An export seminar “Prospects and opportunities of development of business with China” was organized by Industry Development Centre of Leningrad Region during the event. The regional Export Support Centre provides comprehensive support for enterprises entering foreign markets – from estimating potential to the first delivery of products to the target markets.
5 lifehacks for the participants of the export seminar:
- Before entering Chinese market you should register a trademark. In order to eliminate risks all trademark rights should belong to own company, not Chinese partners.
- It is necessary to conduct marketing research and adapt all marketing materials. Investments in marketing and promotion amount to 20-40% of the planned sales.
- It is important to promote products online – in WeChat and Weibo which are extremely influential.
- Online trading platforms (such as Alibaba) simplify the way towards consumers and open great opportunities for exporters. Industry Development Centre of Leningrad Region brings regional companies to marketplaces on turnkey basis and compensates a substantial part of expenses on this type of promotion.
- It is important to take into consideration mentality of Chinese partners and cultural differences while negotiating. Restrained communication strategy and search for common goals is more efficient.