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China loves to see "Made in Virginia" on the label
Virginia Economic Development Partnership is going back to China! Our trade mission will start April 3rd and end April 7th, with meetings in Hong Kong and Beijing.
Although many companies have avoided China because of concerns about marketing their products, many others have vaulted the Great Wall and are enjoying lucrative sales. Recently, Governor Mark Warner announced a facility expansion at Specialty Blades, a company in Staunton, due to their international sales (click on links to see the press releases).
In fact:
- China was ranked America's 5th largest export trading partner in 2004.
- It is Virginia's 5th largest export destination.
- In 2004, Virginia exported over US $608 million in goods to China.
- The best prospects for exports to China are: Paper and Paperboard, Mining Machinery, Computer Services and Software, Telecommunication Equipment, Environmental Technologies, Compressors, Plastic Materials and Resins, Aircraft, Parts and Airport Development, Scientific Instruments, Biotechnology, Hardwood logs, Pharmaceutical & Medical Products.
China has been the fastest growing country in the world. Despite 25 years of Gross Domestic Product (GDP) growth more than 9%, China is not expected to slow in the near future. Experts predict that the world's most populous nation will soon overtake Britain, France and Italy to become the fourth largest economy within five years. A separate study by the China Academy of Social Sciences predicted that the middle class would more than double in size by 2020 to account for about 40% of the 1.3 billion on population. This will further enlarge the consumer market for imported goods.
President Bush visited China in November 2005. The visit earned promises by China to curb the huge trade imbalance and an announcement that it will buy 70 Boeing jets worth US $4billion.
We welcome any Virginia company to participate our trade mission to China. The VEDP's pre-arranged meetings are tailored to each company's international objectives. This trade mission to China is open to all Virginia companies in all industries. Participation includes pre-screened appointments with Chinese companies, commercial briefings on the Chinese market, on-site interpreters and in-country assistance from VEDP international trade managers.
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