For Sale In China Blog

I think this is probably a first, a UK owned company manufacturing rice cookers in China and selling them to the domestic Chinese market.

My congratulations to Chris Chan and the team at Fired Up Corporation in Zhongshan, Guangdong Province for securing the contract to supply 60,000 rice cookers a year to a well known Chinese supermarket supplier.

Fired Up have been keen to diversify their range of products, which are in the main electrical heating products for both export and domestic markets and through an business relationship introduction were able to demonstrate their ability to compete on price on such a commodity product. Of course, Fired Up were also keen to demonstrate their Corporate Social Responsibility credentials and the customer said this was a factor in determining their choice of supplier.

Well done to all concerned.

I believe, contrary to most pundits, that the Chinese Yuan will actually decrease in value against GBP sterling in the next quarter.

Here are the reasons:

1. GBP has undergone a drop against the Euro in recent weeks yet there is very little to support this shift.

2. Business sentiment in the UK has turned the corner and whilst most operators believe the coming months will be challenging, they are now looking forward improving conditions.

3. Interest rates in the UK will increase very soon.

4. Chinese VAT export rebates are already dropping in some product areas and this trend is likely to increase in the less value added categories making products more expensive to export.

4. Most importantly, though, is that China will need an economic ally in Europe and the UK as it continues its battle with the US and will control its currency to favour exports to this part of the world.

Of course, I could be completely wrong and  would be interested to hear counter arguments.

Having, what feels like, only just got back to work following the Autumn Festival China is once again shutting down its factories for the National Holidays.

The whole country comes to almost shutdown for a couple of days with most business’s closing for a full five days. For those companies wishing for any of their staff to put in a few extra hours over the holidays it will cost them a statutory minimum of at least double pay. The most intriguing thing for me about the holidays is that when national holidays occur over a normal working day the banks and other such institutions will alter their working week to accommodate. Could you imagine banks opening on Saturday and Sunday so they could have Wednesday and Thursday off in the UK.