The UK and China have had a strong economic relationship for a long time, with the UK Department of Trade reporting that UK exports to China grew by 15.3% in 2018.
In 2017, China became the UK’s largest export market. China imports heavy industrial products, energy products, and renewable energy equipment from the UK.
Famous brands including Burberry, MG Motors, Rolls Royce and Dyson are an all-time favorites among Chinese customers. UK beverages, gins, spirits and whiskey enjoy great demand in Chinese markets.
Barclays Corporate Banking recently issued research about Chinese consumers. The studies found out that 57% are willing to pay more for products made in the UK to ensure high-quality merchandises. This perception is more popular among the young generation, particularly between 25-34 years old. They remarked that products imprinted with the Union Jack aroused stronger buying interests.
With economic pressure from US-China trade war, China has launched concrete measures to promote domestic market demand to grow trade opportunities with the UK.