China’s GDP has grown 466% since 2002 and is forecasted to continue to grow 7.5-8.5% for the next 30 years. The Chinese economy is widely expected to surpass the U.S. market in GDP size by 2019.
U.S. small- and mid-sized enterprises (SMEs) in particular are major beneficiaries of China’s economic growth and increasingly consumer-oriented society. With a rapidly rising middle class and intense urbanization, SMEs are meeting China’s demand for American goods. SMEs represented 92 percent of all U.S. exporters to China in 2010.
China’s emerging second and third tier cities are growing faster than the traditional Beijing, Shanghai, Guangzhou markets. These emerging markets account for over 50 percent of China’s U.S. imports, and are where the major healthcare reforms, airport expansions, and myriad of other infrastructure projects provide superb opportunities for U.S. exporters.
Reasons to Attend
- One-to-one meetings with pre-qualified distributors and potential business partners in specific markets
- Networking opportunities with chambers of commerce to learn best practices from U.S. companies doing business in-country
- Pre-arranged logistics including hotels, ground transportation, interpreters, and daily itinerary
- Appointments with key government officials and industry experts
- Mon 9/09/13 - Briefings, matchmaking meetings, reception
- Tue 9/10/13 - Optional additional meetings and tour of the Panda Reserve, Chengdu / Xi'an transit
- Wed 9/11/13 - Briefings, matchmaking meetings, reception
- Thu 9/12/13 - Optional tour of terra cotta warriors
- Fri 9/13/13 - Optional meetings, return to the U.S.
- Flight $2,200
- Hotel $200 per night (negotiated rates)
- Transportation $300
- Meals $300
- Gold Key Service $700 per day (matching STEP grants available to qualifying companies)
Apply online today (deadline: July 29, 2013)
Travel reimbursements are available for qualifying Utah based small businesses through the State Trade and Export Promotion (STEP) program. Funds are made available by the U.S. Small Business Administration through the Governor's Office of Economic Development. STEP awards are for up to $2,250 and require a 25 percent cash match by the recipient up to $750.
Expenses eligible for reimbursement include:
- Airfare (Fly America provisions apply)
- Gold Key Matchmaking Service (provided by U.S. Commercial Service)
- Interpretation service
- Ground transportation costs within the hosting locale
- Per Diem (lodging and meals, based on U.S. Department of State per diem for the locality) for one employee or agent for the duration of the event plus travel time up to one day before and on the day after the event.)
Awards are limited and will be given on a first come first served basis. Preference will be given to those companies that demonstrate financial need. Awards are subject to the terms and conditions set forth by the U.S. Small Business Administration and GOED. Qualifying small businesses must have been in business for at least one year, produce an export commodity, and have not been barred from receiving federal funds. Other restrictions may apply depending on a company's size and annual sales.
Exporting your product may be easier than you thought. With more than 70 percent of the world's purchasing power located outside of the Untied States, can you afford to wait?