Santander brings the Chinese market closer to European companies

Conference “Bringing One Europe closer to China”

Bringing One Europe closer to China is the title of the online conference held by the Santander Group and the Bank of Shanghai.

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It was an information session aimed at European companies interested in successfully growing their business in China. According to a report by the Alibaba group, only 17% of SMEs in the European Union export to China. Regulatory barriers and lack of knowledge are cited as the main challenges faced by companies seeking to enter the market. the second economy and second largest market in the worldo.

 

Firstly, Banco Santander representatives in Spain, the United Kingdom, Portugal, Poland and Germany have detailed the banking group's capabilities to help European companies in their expansion in the Asian giant.

 

"International expansion is part of Santander's DNA and that is why we have consolidated ourselves in all the European geographies where we are present, with a specialized team to support your needs and requirements. We have a team of international trade specialists in Spain, Portugal, Poland and the United Kingdom ready to help you. Being part of the Santander Group also makes a difference when it comes to operating internationally, not only our presence in 10 markets where we are a key player but also our correspondent banking network that allows us to reach any country in the world to help you with your payments and finances”, he explained Jaime Uscola, director of International Business at Banco Santander Spain.

 

The importance of bilateral trade between Europe and China was discussed at the event (the Union is the Asian giant's second trading partner, with around 15% of exports and 12,6% of imports); The current economic context of China has also been discussed, with a GDP growth forecast for 2021 that exceeds 8%; of the country's regulatory framework, with the new Foreign Investment Law that seeks to improve the business environment for foreign investors, and the different options to establish themselves in this market, with special attention to the opportunities offered by e-commerce.  

   

The experience of the companies 

 

Two companies already introduced in the Chinese market, one of them the Spanish Forest Chemical Group, have shared their experiences and talked about the challenges that the country presents. “The main challenge in China is size, because for chemical products the difference in climate is a challenge for product development. Another challenge is knowing the culture and way of doing business; and another challenge is the language,” he pointed out. Sergio Vega, co-founder and COO of the company.

 

Finally Bank of Shanghai, Santander's strategic partner in China, has presented its services.