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Opportunities Abound for Memphis Businesses in China

As the Greater Memphis Chamber works to make Memphis a global economic leader, we cannot ignore one of the biggest players in the game: China. Currently, China is one of our top exporters, and lately, Chinese investors have been interested in the Memphis economy.

That’s why partnerships with organizations like the University of Memphis Confucius Institute are more important than ever before. The institute works to build bridges between the U.S. and China and promote the Chinese language and culture in America. 

“People do business with people and businesses where they are comfortable,” said Ernest Strickland, Director of Economic Development. “The partnership with the Chamber and the Confucius Institute is a game changer. It’s important for their work to continue for more and more Memphians to learn the Chinese culture and become familiar with the Chinese language.”

Next week the Chamber will be doing its part to grow business opportunities with China when the International Business Council hosts a delegation from the China Investment Promotion Agency. The agency wants to discuss business ideas and develop relationships between China and U.S. companies in the area of logistics and distribution services.

The U.S. - China Logistics & Distribution Services Symposium is on Wednesday, June 18 from 9:00 a.m. - 1:30 p.m. at The Peabody Hotel and open to any Memphis business interested in learning more about trade opportunities in China. Strickland hopes the event will take some of the mystery out of China.

“You hear about China on the news a lot, and it’s easy to make assumptions about what it’s like to do business with China,” Strickland said. “Through this symposium, we want to give companies the chance to interact with Chinese businesses and hear firsthand how they can get involved.”

The recent relationship between Chinese company and Chamber member MicroPort and Wright Medical shows that business opportunities are closer than we think. MicroPort’s acquisition of Wright Medical’s hip and knee division in Arlington took place early this year. They announced Tuesday a $100 million investment to add a new 15,000-square-foot medical training facility to that space.

Upon its acquisition in January, MicroPort hired 97 people, and they plan on hiring another 171 more with the expansion. The numbers don’t lie. Doing business with China could mean huge opportunities for Memphis.

If you are interested in attending the U.S. China Logistics & Distribution Services Symposium on Wednesday, June 18 from 9:00 a.m. - 1:30 p.m. at The Peabody Hotel, you can register here.

-Jenny C. Fish
Posted: 6/12/2014 9:05:58 AM | with 0 comments

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