COVID-19 Recovery: Accessing trade opportunities between China and Africa
As China starts along its path to recovery, businesses in Africa can look to China to fulfil their trade needs.
- Do you need to diversify your customer base to include new customers?
- Are you experiencing difficulty in purchasing or importing products from your current supplier, or sell and export to your current buyers?
Post an extensive shutdown across China, the Chinese governments is now pushing for businesses and factories to reopen, while rolling out fiscal and monetary stimulus to assist its recovery from an economic retraction.
Domestic sales are also slowly starting along the path of recovery in China, as retail is beginning to bounce back. Recently, Apple has started to reopen all but 2 stores across China in 11 locations, while the world’s biggest jeweller, Chow Tai Fook Jewellery Group Ltd., resumed operations as well.
Additionally, as key indicators begin to look promising, such as the return of migrant workers, logistics activities are resuming and while coal and electricity generation commences, the manufacturing sector looks set to return to around 80% of its normal capacity.
These signs are all promising for African businesses who are looking for a new trade partner, should the current COVID-19 crisis have impacted on your supply, or if international markets that you previously served have entered into their own lockdown periods.
How you can access trade between Africa and China
We provide businesses with the opportunity to export to or import from China, with our first-of-its-kind Africa China Agent and Africa China Export propositions.
Find vetted import partners:
- Mitigating the risks: We understand the risks that you may face when trading with an international partner, which is why our Africa China Agent proposition was created to assist you in connecting with the right suppliers in China to source and validate the quality of goods.
- Streamlining trade processes: Our trade agent will assist you in sourcing the right suppliers, negotiating the best prices, arrange site visits in China to meet the various suppliers, providing guarantees around the quality of goods, and handling the shipping logistics.
- Financing services: We are also able to assist with a Letter of Credit, to assist in meeting the contractual obligations
Find vetted export partners:
- An extensive network of partnerships: Standard Bank has built an extensive network of partnerships to help exporters through the approval process and beyond.
- Unrivalled competitive advantage: Through our formidable partnership with the world’s biggest bank, the Industrial and Commercial Bank of China (ICBC) as well as vetted export agents, we provide you with an unrivalled competitive advantage for Africa China trade.
- Access to new markets: Together with ICBC, we can provide you with market access to China through an extensive existing network of customers, while Standard Bank’s deep expertise and heritage in Africa, enable us to facilitate capital flow and cross-border trade between Africa and China.
- China is slowly recovering as shops and factories begin to reopen
- This provides African businesses with a trade opportunity, as other countries move towards lockdown 3. Standard Bank can assist you in partnering with vetted international buyers and suppliers in China, through our extensive network of partnerships, including our partnership with ICBC.
- We are also able to assist with trade finance solutions to mitigate any financing risks and ensure performance of contractual obligations.