China is the largest emerging-market country and currently the second biggest economy in the world. Economic projections suggest it will overtake the US as the largest economy in the world by 2030.
The Sheffield City Region is building long term partnerships with Chinese businesses and investors in specialist areas, including advanced manufacturing and engineering, material science, digital-led manufacturing and health and well-being initiatives.
In October, Rachel Clark, Director of Trade and Investment at the Sheffield City Region and Richard Stubbs, Chief Executive Officer, Yorkshire & Humber Academic Health Science Network & Sheffield City Region LEP Board Member, visited China to enhance our relationship with this important investment partner. This included meetings in Xi’an at the Industrial Development Zone with businesses involved with Advanced Manufacturing. They also visited the World Intelligent Manufacturing Conference in Zhengzhou and met companies specialising in medical apparatus and life sciences.
The Sheffield City Region Inward Investment Team demonstrated how we are actively seeking to build relationships with investors from China to take advantage of the wide variety of land and property development opportunities in our region. They also outlined the support they offer through helping establish private sector partners, grow their networks with the Chambers of Commerce and with our academic institutions, helping investors to develop their contacts and maximise their profile in the area.
In addition, they showcased to Chinese businesses the strengths of our academic institutions: the University of Sheffield and Sheffield Hallam University, which between them attract more than 6,000 students from China every year, with specialisms in areas such as Engineering, IT & Medical Technology.
They gave a clear picture of how our universities carry out pioneering research and innovate through technology to solve industrial and commercial challenges in the fields of advanced manufacturing, health and wellbeing for global companies.
One of the main objectives was to demonstrate to Chinese businesses and investors that the Sheffield City Region is seeking long-term partners to work with and to invest in developing new technologies and in solving pressing global and industrial problems.
Rachel Clark, said: “This visit was a huge success in setting the foundations for a future trade mission. We made some excellent connections and will be working closely with them over the coming months to develop these further.”
Click here to find out more about how we are working to grow our partnership with China.