Parts of the UK saw a strong recovery in trade with China in the second quarter of 2022 as its economy recovered from severe lockdowns earlier in the year, new analysis from the China-Britain Business Council shows.

Although Chinese exports and imports valued in US dollars grew only 2.1% year-on-year in April – the slowest increase since the height of the pandemic in June 2020 – there were still some signs of success.

Figures show significant year-on-year increases in UK export values for medicinal and pharmaceutical products (up 19% from £275 million to £329 million), professional, scientific and controlling instruments (up 25% from £153 million to £192 million) and manufacture of metal (up 61% from £34 million to £55 million), which all performed better year on year in Q2 2022.

“The UK and China have a long history of trade and diplomatic ties going back over 400 years. With the right guardrails in place, we can enjoy a pragmatic trading relationship that works for the national interest, while standing up for our values,” said Andrew Seaton, CBBC Chief Executive, adding: “This is vital for supporting British jobs and our economy, particularly as we face some of the toughest challenges in a generation.”

While exports to China fell across most regions of the UK, Yorkshire and the Humber saw goods exports increase 41% year-on-year – the biggest rise in the country – fuelled primarily by surging petroleum exports, up nearly 680%.

Other parts of the country, including the wider North of England, also proved relatively resilient, with rises in export values from the North East (+1.4% YoY), the North West (+3.9%) as well as the East Midlands (+3.7%).

Wales – which saw the strongest growth in goods exports to China out of any UK region in Q1 – continued to benefit from Chinese demand for power-generating machinery and specialised machinery, improving its goods exports in Q2 by 36% year-on-year.

The report comes as the spotlight once again turns to UK-China relations, with Prime Minister Rishi Sunak using his recent speech at the Lord Mayor’s Banquet to outline his vision for foreign policy, saying he would focus on “standing up to our competitors, not with grand rhetoric but with robust pragmatism”. The UK would be “stronger in defending our values”, he said, while avoiding “simplistic Cold War rhetoric”.

The day before, Minister for the Indo-Pacific Anne-Marie Trevelyan told Australia’s National Press Club, “We cannot afford to do anything other than focus on this region…In short, this region is critical to the UK – to our economy, our security and to the international rules-based system, that both our countries cherish.”

UK goods exports to China have grown a staggering 495% over the past 15 years, making China the UK’s third largest goods trading partner.

With the UK facing tough economic times, we must use every tool at our disposal to create growth. China presents an extraordinary opportunity in this regard — Andrew Seaton, CBBC Chief Executive

The China Trade Tracker was launched by CBBC in October 2021. Produced every quarter, it acts as an ‘always-on’ reference tool providing the facts and figures about UK-China trade and the impact on the UK economy, including at the regional level, of trade with the world’s second-biggest economy.

Each issue of the China Trade Tracker provides an overview of the impact of Chinese trade and a detailed analysis of each region across the whole of the UK. It draws on Government, HMT, DIT and ONS data, compiled by CBBC’s specialist analysts.

Click here to read Issue 6 of the China Trade Tracker

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In 2021, China was the UK’s third largest trading partner, after the US and Germany. It was the UK’s sixth largest export market for goods and the single largest source of imports. Indeed, the UK’s links to China via goods trade, tourism and education support an estimated 114,000 to 129,000 jobs across the country, according to a 2020 report by Cambridge Econometrics.

Perhaps unsurprisingly, the first quarter of 2022 saw UK goods exports to China decrease 12.8% compared to the same period a year earlier. They were also down 11% lower compared to the last quarter of 2021, according to HMRC data. That said, the data leaves no doubt about the continued importance of the Chinese market to the UK, with some individual regions and sectors performing particularly strongly.

“While the past few months have been challenging, it’s encouraging to see our trading relationship going from strength to strength, with most UK regions reporting record export levels,” said Andrew Seaton, Chief Executive of China-Britain Business Council. “UK exports to China are proving resilient and generate employment and prosperity across the UK. Making sure that UK businesses are getting their fair share of the China market opportunity – including its dynamic consumer market, driven by its large and growing middle class – is more essential than ever to the UK’s recovery and future growth.”

Apart from the seasonal effect of Chinese New Year – which means a general decline of Chinese demand during the first months of the year – the biggest reason for weaker exports were a decline in key British exports of road vehicles (down 14% from £940 million to £807 million), petroleum (down 29% from £651 million to £462 million) and medicinal & pharmaceutical products (down 46% from £482 million to £261 million) compared to the first quarter last year. Together, these exports constituted 70% of all British goods exports to China in Q1 2021 versus 58% in Q1 2022.

On the positive side, exports of professional, scientific & controlling instruments (up 16% from £143 million to £165 million), power generating machinery (up 10% from £180 million to £198 million) and non-ferrous metals, e.g. platinum (up 8% from £185 million to £200 million) all witnessed higher Chinese demand in the first three months of 2022 than in the same period in the previous year. Their overall share of China-bound exports increased from 17% to 21% between the first quarters of 2021 and 2022. 

My advice to British businesses looking to expand, is to tap into the dynamic Chinese market – it is unrivalled in terms of its sheer size and potential for growth — Andrew Seaton, Chief Executive of China-Britain Business Council

Among the UK regions, Wales retained the strongest growth in goods exports to China, seeing an increase of nearly 23% year-on-year in the first quarter of 2022 compared to the same period last year. The success in Wales is mainly due to growing demand for specialised machinery – especially in the semiconductor business – with the Principality’s exports of this product category surging by 121% year on year (YoY) in the first three months of 2022.

Besides Wales, the North East (+10% YoY), the East Midlands (+2% YoY) and the South West (+2% YoY) also experienced positive growth in goods exports to China in that period.

By contrast, Scotland (-59% YoY), London (-14% YoY), and the West Midlands (-26% YoY) were impacted by the slump in exports of road vehicles and petroleum, even though most of their remaining exports maintained stable levels with few changes compared to the previous year.

Overall, the Q1 2022 data shows that China remains an important growth market for high-quality and high-value adding UK manufacturers and businesses, even though the large export share of a few items (road vehicles and petroleum) can lead to stark fluctuations in overall export figures.

The China Trade Tracker was launched by CBBC in October 2021. Produced every quarter, it acts as an ‘always-on’ reference tool providing the facts and figures about UK-China trade and the impact on the UK economy, including at the regional level, of trade with the world’s second-biggest economy.

Each issue of the China Trade Tracker provides an overview of the impact of Chinese trade in the first quarter of 2022 and detailed analysis of each region across the whole of the UK. It draws on Government, HMT, DIT and ONS data, compiled by CBBC’s specialist analysts.

Click here to read issue 5 of the China Trade Tracker

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Where and how can you find the right shipping/freight company for you?

Whether you are importing from China or anywhere else in the world, freight forwarders will play a pivotal role in your business. It is important that you choose the right forwarder for you, which can appear to be a minefield. Look for a forwarder that offers expertise and advice. This will give you immediate feedback and confidence that you are choosing the right one for you. While it is always good to get cost comparisons, quality of service and speed of response should give you a better indication of the service levels you will get moving forward – the cheapest isn’t always the best. Liken it to if you were wanting a new kitchen or building work; you would look for a reputable builder to use, you would want a professional, and your logistics partner should be the same.

What are the customs rules and where can you find them? 

The freight company you choose (especially if it is a reputable one) should be able to navigate you through all the processes and legislation on the product you are looking to purchase from overseas. While you are ultimately responsible for choosing the right commodity code for your goods, a goods forwarder will offer guidance. There are also departments within HM Revenue & Customs that will be able to advise on correct commodity codes, which dictates the duty you will pay. Your freight company should be able to steer you in the right direction.

What costs and fees are involved?

The final costs you face, in particular, the cost of freight from China, are very much dependent on the Incoterms (International Commercial Terms), a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC) relating to international commercial law, of the sale of the product to you. This will dictate which part of your shipment’s journey you are responsible for. The two most common terms are: 1) Ex Works, where you are responsible for all local charges in China, as well as the freight charges to the UK and UK Local Charges, and 2) Free on Board (FOB), where you are only responsible for the freight charges and UK local charges.

A few important things to note:

• JAG-UFS usually recommends FOB to their clients, as this gives more control of costs and shipping to the UK, whether by air or sea. You are in more control of your shipment and there are no nasty surprises of local charges at origin.
• Beware of suppliers offering to get your shipment to the UK for “free”. Especially for ocean freight shipments: often, the local consolidators for less than container (LCL) loads will offer incentives to suppliers and as the UK importer, you will receive overinflated import costs which will have to be paid before the release of your shipment.

How do payments work (upon order or upon delivery)?

Payment is very much dependent on whether your shipment is by air or ocean and your relationship with your supplier. For air shipments, your supplier would probably expect full payment before releasing the shipment to your chosen forwarder. For ocean freight, ownership of your shipment will only happen when full payment has been received and on production of the original bills of lading. Once paid, the supplier will issue a stamped copy of an original bill of lading which can either be surrendered to the local forwarder in China, who will then either send an “Express Release” and no original will be required in the UK, or the supplier will send the original to you, which you will have to send to your freight company to gain release of the shipment. The payment for ocean freight shipments will need to be done at least a week in advance so that the express release or sending of the originals to the UK well in time before the shipment arrives to avoid shipments being delayed awaiting release.

What are bonded warehouses and where should you store your product?

Bonded warehouses are licensed warehouses that can store goods without duty or VAT being paid at the time of importation, although there still must be an import entry produced at the airport or port of arrival and goods can only be delivered directly to the chosen bonded warehouse. Shipments can then be called off in smaller batches, with duty and VAT being paid at the time orders are needed. Bonded warehouses work well for higher value items or for goods that are going to remain in bonded storage for long periods. However, since the introduction of post VAT accounting, the requirement for a bonded warehousing is not as prevalent as before. If you register for post VAT accounting, this will help you defer VAT payment and you will not have to pay at the time of importation.

This article is part of a series on importing from China. See all the articles in the series below.

Part 1: How to source a manufacturer in China
Part 2: How to source and manage suppliers
Part 3: How to ship products and navigate customs

Click here to read our Exporting to China series

Get immediate access to the China market with Launchpad, CBBC’s flagship market entry service. Call +44 (0)20 7802 2000 or email enquiries@cbbc.org now to find out more.

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China is still the first port of call for many companies looking to source products to import to the UK, but before you start sourcing, it is important to define what you (think) are looking for. What is important to your organisation? What is a must-have, a nice to have and an optional? What are your short- and longer-term plans, and will the products/manager you need change as your plans change? Having these before you start sourcing is a good foundation and a useful document to refer back to at later stages to reground you.

Below are a few examples of where you can start sourcing a manufacturer:

1. Industry conferences and trade shows: Chinese attendees should be experienced in international trade and have the basic skills needed to work with you.
2. UK online forums: Focused, niche forums can be a source of specific information including contacts, practical tips based on others’ experiences, and feedback on products bought.
3. Alibaba: Alibaba has evolved tremendously over the last two decades, and while it is a powerful search engine with lots of information, it can still be quite hard to find a great partner. It helps to use filters effectively to find exactly what you’re looking for.
4.  LinkedIn: There are groups on LinkedIn focused on connecting manufacturers and agents with potential clients, although they vary in quality. Nevertheless, LinkedIn is a good place to post questions and requirements, as well as learn from others’ experiences.
5. CBBC: Our CBBC teams may be able to offer advice or introduce you to other member companies.

The next best step is to reach out to 3-10 companies. Initial contact can be one of the best, early filters – who replies and how are communications? This doesn’t guarantee quality, but from a sanity point of view, it can be very important.

Try to select a mix of companies to find out which one is right for you. As an SME, for example, selecting a multi-billion USD supplier probably isn’t the best final choice, however, a large company can be a good source of information and resources which can be useful reference points when dealing with others. Ask for references in your country or region, and do engage with these references before you order.

What times and costs need to be considered?

If you are just buying a few units as a one-off, then it may be best not to buy from China directly. Even before the Covid-19 pandemic, if you wanted to ship by sea from China you needed to allow a couple of months from order to door, and negotiations and discussions may add on time before that.

Below is a brief review of the timeline you can expect at each stage of the process:

• Production: 30-60 days
• China export: 3-7 days for local transportation and export
• Shipping: 30-45 days to main UK/EU ports (be aware of trans-shipping where the container is transferred at another port such as Singapore or in Hong Kong, which can add 3-7 days)
• UK import: 2-5 days (note, the Economic Operators Registration and Identification Number, EORI, should be lodged before the vessel arrives).
  Total: 65-124 days

In terms of costs, a container could be worth £5,000-200,000, and with lead times from factory to warehouse of 70-100 days, cash can be tied up for long periods of time. Furthermore, depending on business volumes, you usually want product in production, product on the water, and sufficient stock in the warehouse. Be careful to consider stock levels, turnover and production, as seasonality and varying stock turnover mean that it can be difficult to plan and forecast, especially with current levels of geopolitical uncertainty.

How to manage your manufacturing partner and ensure quality control is maintained

Quality management will depend on your business and its needs. As with anything, you get what you pay for in terms of quality. Third-party quality control (QC) companies with trained teams for onsite audits and inspections can be a sensible investment if you can’t visit.

On-site visits are important because there can be no end to misunderstandings and outright misinformation about where a company is. For example, if you see a factory’s address is in Shanghai, often this actually turns out to be a trade office. Especially on Alibaba, you’ll often discover multiple companies at one address.

Whether you tackle a pre-order visit internally or through a third-party company, it should usually include the following:

• Thorough visit and inspection, with the inspector taking pictures and videos of the site, key personnel and manufacturing processes.
• Production visit to inspect raw materials and current product in production, with a final pre-shipping inspection and/or loading inspection including:
  Ensure packaging is correct (labels, wrapping, etc.)
  Pallets are suitable for freight
  Product count
  Loading supervision and confirmation of container sealing.

A problem in China that is caught early can be solved easily and relatively cost-effectively for all involved. A problem that is not discovered until your client receives it can be challenging to solve and costly on multiple levels.

What payment terms are available and what should you look out for?

Standard terms for full container loads (FCL) are usually 30/70 or 20/80, though for an initial order many factories will ask for a deposit of around, say, 10% before they order materials. For smaller, less than container loads (LCL), the cost is typically 100% upfront before shipping.

Always double-check bank details before wiring funds. Confirm via a formal company email rather than an Outlook/Yahoo/163 type of address. Bank details may be in Singapore or Hong Kong, even though you are buying from a Mainland company.

What other legal risks need to be considered?

Businesses should be very careful if shipping by LCL, as it is very common that a lot of the freight charges will be applied as destination charges, meaning you may face a very large bill on arrival in the UK. It is worth checking with your own freight forwarder on services, options and costs based on the FCA China port.

It is always worth keeping a weather eye on IP and branding issues. When sourcing from China for the long run, register your brand, logos and names in China before you share this information with the factories. The Chinese IP protection system is very robust nowadays, but there are still issues with IP squatting.

Sourcing in China can be a great way to secure excellent products that are competitively priced from suppliers who are focused on quality and innovation. While there are plenty of options available to source remotely, with travel to China gradually becoming more convenient, it is worth visiting in person if possible, as it not only helps with business from existing suppliers, but you also inevitably discover new products and new suppliers. Problems that drag on via email can often be resolved quickly and new ideas exchanged, and suppliers are usually keen to hear about your business and customers.

Click here to read our Exporting to China series

Call +44 (0)20 7802 2000 or email enquiries@cbbc.org now to find out how CBBC can help you find the perfect partner or supplier to support the growth of your business in China.

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Surprisingly, when the pandemic first hit the UK in March 2020, shipping companies did not immediately follow the increase in airfreight charges with their own. Airfreight rates quadrupled nearly overnight, whereas initially, there was no significant movement in rates on ocean freight until some nine months later at the end of 2020.

When the price increase did come, it was explained by the shipping lines as an “imbalance of equipment.” At the time this made perfect sense, as the pandemic hit China’s major export markets — the USA, the UK and Europe — with countries in these regions seeing very strict lockdowns. In turn, this meant that when containers arrived at their destination they would be met with major delays due to shortages of drivers to remove goods from the ports, deliver to end users and ultimately, slow turnaround times in returning empty containers back to ports. With many importers having to work from home, there was a backlog at both manufacturing hubs and ports, and vessels were returning to China relatively empty and with very few exports. This is when the export price from China began to rise to accommodate the cost of vessels returning with empty containers. Since then, rates have remained at all-time highs. Industry insiders could see that increases were inevitable. However, the level of increase could be said to be slightly overinflated.

Importers and forwarders alike, however, could not have foreseen the rate levels that have been imposed by shipping lines. Within three months from November 2020 to January 2021, rates rose by 500%. Ocean rates peaked in December 2021 to a staggering 850% above pre-pandemic rates.

This has of course had an adverse impact on businesses, not only in the UK but in all of Europe and North America, leading to the unprecedented rises in inflation that we see being reported today.

And this situation could be exacerbated by the Covid-19 lockdowns that have hit Shanghai since late March. While the world’s busiest container port has remained open (thanks to a ‘closed loop’ management system that keeps workers isolated at the port site), an estimated 30% of the global backlog of container ships are thought to be sitting in traffic jams outside ports in China. There have also been problems getting cargo to and from the port due to the strict rules on truck drivers entering and exiting the city.

During this time, many companies have decided that shipping is just not a viable option anymore, certainly until rates return to a more feasible level. Rates may never return to pre-pandemic levels, but there is still hope that common sense will prevail and that shipping lines will continue with the downward trend and find a reasonable level, where shipping lines can make a profit, and at the same time allowing businesses to start shipping once again.

The UK has suffered a little more than most EU countries, with higher rates being imposed on the UK market. This is due to the big imbalance in imports and exports containers, forcing shipping companies to return to Asia with many empty containers on board.

The export market has also suffered, but not to the same degree as imports. Pre-pandemic, ocean export rates from the UK to China sat at anywhere between $500-600 (£389-467). This peaked during the pandemic and averaged at $1,850 (£1,441), although there has recently been a 20% decline in rates. The availability of equipment and space has eased and it seems that apart from the rate still being a lot higher than pre-pandemic, there does seem to be light at the end of the tunnel. In more positive news, there are signs of some sense of normality returning to the shipping industry and rate levels are on the decline in both the import and export market.

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The October 2021 edition of the report brings together official HM Treasure and the Office for National Statistics data with CBBC expert analysis to highlight key trends and themes of the UK’s trading relationship with China – nationally, across regions and key sectors.

At a time when many UK companies are facing tough trading conditions at home and internationally, the China opportunity is more important than ever for UK businesses and jobs, especially in relation to the UK’s post-Covid recovery. The report highlights the benefits to the UK economy of a healthy trade and investment relationship with China, which is expected to be the world’s largest economy by 2030.

Exports to China grew 3.2% last year – despite the Covid-19 pandemic – while exports to Europe and the US fell. The emergence of China’s middle-class is a primary driver behind a recovery in exports. Looking ahead, China will account for two-thirds of the growth in the global middle class in the next decade, equivalent to around 400 million people, according to recent findings from the DIT. As Andrew Seaton, Chief Executive of CBBC, noted, “It is vital for the health of the UK economy that UK business does not miss out on this.”

The report illustrates a shift in key exports over recent years, highlighting the emergence of new export markets which have shown significant growth since 2015, including consumer goods and trade in services and financial products.

For example, food and drink producers have benefitted from rising demand in China. In the second quarter of 2021, sales of animal fats and vegetable oils to China tripled compared to the same period in 2020. Oils and fats have witnessed an astounding increase in demand from China, with exports rising 7,225% between 2015 and 2020. Animal fats and vegetable oils are generally used for cooking and food processing – two industries which have particularly profited from China’s growing middle class.

It has never been more important to recognise the importance of the trading relationship with China in supporting British businesses,  jobs and livelihoods across all sectors and regions of the UK.
— Andrew Seaton, CBBC Chief Executive

Nevertheless, the growth in oils and fats exports also highlights some important risks for consumer-focused UK-China trade. Food industries, like meat and other animal products, are easily vulnerable to disruptions, be it due to problems in the cool chain or – more frequently – hygienic problems such as animal diseases. Trade is, therefore, more vulnerable and will require increased levels of mutual trust and cooperation at both the business and the government level to ensure that temporary setbacks do not reverse the positive trends of the coming years.

Looking at the top 10 exports for each region, examples include a growth of over 650% of metals in the North East, with a value of over £180 million; and an increase of over 840% of meat and meat preparations in Yorkshire and the Humber, worth almost £68 million.

Click here to read the full report

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Imports also increased 33.1% to £170.5 billion, up from the previous month’s 28.7%. In RMB terms, imports from the UK grew 19.8%, while exports to Britain saw an increase of 18.7% in the first eight months of 2021 compared to the same period last year.

These figures came despite ongoing disruptions caused by the spread of the coronavirus’s delta variant. This recently led to China’s worst coronavirus outbreak, sparking city-wide lockdowns, flight cancellations, and even a week-long shutdown of Ningbo-Zhongshan port, which caused shipping delays that rippled around the world. The outbreak has now been brought under control.

One big beneficiary of this trend is the British food and drink sector. UK F&B exports to China in the first half of 2021 were up by more than 27% compared to the same period in 2020, according to the Food & Drink Exporters Association, with a total value of £436.4 million. The UK’s top food and drink exports include whisky, salmon, and chocolate.

In the first six months of 2021, British food & drink producers sold more to Chinese consumers than to German buyers. This is consistent with overall trends of increased trade with China that show it outstripping Germany to become the UK’s largest single import market.

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Chinese exports grew 32.2% year on year in June, exceeding some forecasts by nearly 10%. The increase was driven by strong demand for both materials and consumer goods as many countries around the world, including the UK, ease Covid-19 lockdown measures as they reach adequate levels of vaccination.

The export surge was eclipsed by delays at ports in southern China caused by a series of coronavirus outbreaks in Guangdong province in May and June. Guangzhou alone reported more than 150 locally transmitted cases between May 21 and June 17, although the outbreaks have since been brought under control.

Chinese exports to the UK have exhibited strong performance in 2021, driven by demand for PPE and electronic devices. This is part of a longer-term trend that has made China the UK’s largest single import market. Goods imported from China reached £16.9 billion in Q1 2021.

China’s imports also grew by 36.7% year on year. Imports of soybeans, corn and natural gas all rose, while crude oil imports fell 3%. UK exports to China have also increased in 2021, up 6.2% from 2020 at £3.9 billion in Q1 2021, led by manufactured goods such as machinery and transport equipment.

Import growth was down from 51.1% in May, in line with suggestions that trade may begin to slow down in the second half of the year as retailers rebuild their inventories and consumption patterns normalise. The spread of the highly transmissible Delta variant has also caused uncertainty about how long the global economic recovery in 2021 will continue.

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For the first time since modern records began, China has outstripped Germany to become the UK’s largest single import market. According to a report from the Office for National Statistics published in late May 2021, goods imported from China reached £16.9 billion in the first quarter of 2021, up 66% from the start of 2018. Imports from Germany fell to £12.5 billion during the same period.

Total goods imports by top five import partners, Q1 2018 and Q1 2021 (source: ONS)

China is the only one of the UK’s top five import partners (Germany, China, France, the Netherlands and the US) from which imports grew between Q1 2018 and Q1 2021. Although part of a long-term trend, the recent rise in imports from China can be attributed to the increased demand for textiles for PPE and electronic devices as a result of the Covid-19 pandemic. While the UK’s other trade partners suffered severe disruption from the virus, China became the first major economy to recover from the pandemic, recording 18.3% growth in the first quarter of 2021.

As trade with China has increased, the combined impact of the uncertainty surrounding Brexit, plus the pandemic, have caused a decline in imports from Germany since early 2019. A decrease in imports of cars and car parts, which fell by 47.7% between December 2020 and January 2021, drove the recent drop in imports from Germany, caused in part by the closure of car showrooms during the UK national lockdown.

Although UK trade with the EU dropped by 23.1% at the start of 2021 compared to the same period in 2018 (trade with non-EU countries dropped just 0.8%), the EU remains the UK’s largest trading partner.

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Supply chains have been severely disrupted by the Covid-19 virus, turning already complex logistics and payment structures into something of a minefield. Adnaan Mukta explains how

The Covid-19 crisis has severely disrupted the supply chains of many UK businesses that depend on imports from China. The Bank of England reports that production stoppages in China have hit output in sectors ranging from car manufacturing to aerospace.

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