Useful advice for Norwegian exporters in China

In 2016, China imported goods and services for USD 1.95 trillion and is one of the fastest growing markets in the world. China represents a huge opportunity for Norwegian exporters, and GIEK and Export Credit Norway already work on several large projects within land-based Norwegian export industry in China.

Here are some our advice to Norwegian companies looking to do business in China:

  1. Relations and contacts: Chinese usually prefer to do business with people they know and trust. It is therefore important to build strong long-term relationships to prospective buyers and partners in China. Visit them in China, have dinner together, and create good relations. Be prepared to travel regularly to China.
  2. Know the market: China is not a market but a collection of smaller markets, cities and provinces, which on their own may be larger than large European countries. Do thorough due-diligence, know the market potential and preferences in the specific areas you are looking to export to.  
  3. Bureaucracy: It is important to be aware of bureaucratic obstacles. Ensure that all registrations and approvals are in place. It is also important to have a good strategy for how to transfer money out of China, as you could face currency restrictions.
  4. Patience: Ting takes time in China. Do not give up!

GIEK are open to both long-term and short-term guarantees in China, and may cover both political and commercial risk. Read more about GIEK’s guarantees on giek.no/guarantees.

Meet GIEK and Export Credit Norway in China

17-25 November, GIEK and Export Credit Norway will be visiting Shenzhen, Beijing and Shanghai, and will be part of the Norway China Innovation and Investment Week, organised by the Innovation Norway China office. 

If you are unable to meet us in China this time, follow us on Facebook or sign up for our newsletter for information on our next visit to Asia spring 2018.