News From the Secretary General

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Dear members,

Since our last newsletter, three new members have joined Danish-Chinese Business Forum. I would like to warmly welcome the new members to our network:
• FT Company
• Sjølund A/S
• Aarhus Kommune

I hope that you will take active part in our network, and I look forward to seeing all our members at the future member meetings. The last member meeting before the summer holiday will take place at Ecco A/S in Tønder. The presentations will address the establishment and operation of production facilities and retail activities in China, including the development of CSR in China.

Chinese Economy
Danish export to China has increased last year, reaching DKK 11 billion. The export to China is expected to grow by 16 percent in 2010. The Danish export of services to China is DKK 14.5 billion (2008, latest figures from Danmarks Statistik). These figures demonstrate the continually growing importance of China as a trade partner. The Danish Trade Council predicts that China will become one of Denmark’s largest trade partners in the future. This is linked to the expectation that 350 million Chinese from the rural parts of China will move to the urban areas, which will create a larger middle class. There will be a large demand for a number of the consumer goods produced by Danish companies, which Danish-Chinese Business Forum’s members can highly benefit from.

According to McKinsey Global Institute, China has the potential to become the world’s largest consumer market. McKinsey’s estimates point towards China becoming the world’s third largest consumer market by 2020.  In addition, Professor Fogel from Chicago University predicts that judging by purchasing power parity (PPP), China's gross domestic product (GDP) will constitute 40 percent of global GDP by 2040, ranking first in the world – far more than the 14 percent share of the United States. This creates enormous opportunities for Danish companies operating in China, and at Danish-Chinese Business Forum we will do our best to assist our members in seizing these opportunities. 

Future member meetings
Our upcoming member meetings will take place on the following dates:

23 June: The Ecco Case
Host: Ecco A/S, Tønder

1 September: Legal- and Tax Update
Host: Gorrissen Federspiel, Copenhagen

2 September: Legal- and Tax Update
Host: Bech-Bruun, Århus

I look forward to seeing you all at our upcoming member meetings, and I wish you all a successful summer doing business with China.

Tom Jensen
Secretary General