Leeds And Qinqdao Sign A Memorandum Of Understandings

Leeds has further strengthened its ability to trade with China through a series of agreements to stimulate trade with the port city of Qingdao, which has a GDP of one trillion yuan.

This cam from a week long trade and investment mission to China, which included visits to Leeds Twin cities Hangzhou and Hong Kong. During the visit, the delegation signed two Memorandum of Understandings with partners in the city to help and encourage businesses from the UK from cities outside of London. The first of these two agreements was signed with the China-Britain Industry Innovation Park. The park, which opened in November 2017, aims to enhance bilateral cooperation and export opportunities between the two nations. A second Memorandum of Understandings was signed with the China International Trade Promotion Council to increase Trade opportunities between Qingdao and Leeds City through a co-ordinated activity. 

In Leeds, it is crucial for businesses to effectively position their products within this vast marketplace and seek opportunities for trade and cooperation. Significant is the scale of business opportunities in our region to trade with china. Successful companies such as ConnectChina, Fired up and Scala Consulting have all grown out of this market and with the signing of this Agreement other companies in the region now look to show their products and build collaborative relationships. 

 

Companies in the region will benefit from marketing assistance and investment facilitation provided by China International Trade Promotion Council. Next year, both sides will seek opportunities to hold promotional events for each other. In addition, agreements with other regional cities were also signed  such as Bradford. In 2017 Bradford City of Film launched a Film office in Qingdao after supporting the Chinese City in its own offer to become the UNESCO Film City. To date, Qingdao's investment in the UK totals £ 86 million ($ 113 m). The city has grown brands that are home names in China and elsewhere in Asia, such as air-conditioning and heating companies Haier and Appliances Company Hi-Sense.