PwC is calling for NZ and Chinese businesses to harness year
Today marks the start of the Chinese New Year. We are entering the Year of the Horse which is characterised by its grace, hard work and dedication. PwC New Zealand is calling for New Zealand and Chinese businesses to harness these qualities and enhance their business relationships and develop stronger engagement between the two countries.
“Relationships between New Zealand and China have really matured over the past few years, and we, at PwC, wish to see the level of trade and investment take off even further, and should I say, to gallop ahead with the Year of the Horse,” says PwC New Zealand Partner and China Sector Lead Colum Rice.
“We can expect the New Zealand Government to work even harder on its relationships with China, and I am sure we will see more engagements between the two countries. The Governmental foundation then gives a base for companies to work from as we continue to try to make the most of the opportunities that New Zealand has with China.
“From our Annual Global CEO Survey, we know New Zealand and Chinese CEOs are more confident about the future and we’ve seen over the last six months how more New Zealand businesses – small, medium or large – have started to think differently about China. This is very encouraging. We have also noted a different level of maturity in our relationships with our no 1 trading partner as businesses have come to a realisation that, as a business driver, China is here to stay. New Zealand businesses are thinking bigger and thinking longer term and investing more to turn opportunities into action,” adds Mr Rice.
Chinese businesses have also shown their focus on growth under the country’s ‘Go Global’ strategy and as such, have been more interested in New Zealand to better understand technology, know how, brands and products. Chinese companies are looking to work with New Zealand businesses to bring back products and services relevant to the Chinese domestic consumer market. They do look for long-term business partnership and cooperation, as well as to invest in overseas opportunities.
“Chinese companies look for long-term business partnership and cooperation, but we need to remind ourselves that New Zealand is constantly in competition with other countries to capture the opportunities in China. We need to demonstrate how New Zealand is well suited to partner with China. We are encouraged by the progress we, as a country, have made since the Free Trade Agreement in 2008 and since the launch of the New Zealand China Strategy in February 2012.
“2014, the Year of the Horse, is the year where with focus and perseverance, we can make a difference and cement our business engagement with China,” concludes Mr Rice.