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www.insideHALTON.com | OAKVILLE BEAVER | Wednesday, June 12, 2013 | 4 Face-to-face meeting still tops -- even in China continued from p.1 "We must get out more." Burton said Oakville is home to an extremely talented labour force and noted the town has become a priority area for investment. China has plenty to offer Oakville -- as was pointed out by Commercial Consul of the Chinese Consulate General in Toronto Jianwei Yu who spoke during the event, attending along with Senator Victor Oh. China has plenty to offer Oakville -- as was pointed out by Commercial Consul of the Chinese Consulate General in Toronto Jianwei Yu who spoke during the event, attending along with Senator Victor Oh. Despite the slowing of its economy, China's GDP (gross domestic product) still grew by 7.7 per cent in first quarter of 2013, said Yu. Canadian companies that make it into China gain access to a huge market for commodities. China's population is currently 1.4 billion of which 300 million are middle-income people. Yu noted China is Canada's second largest trading partner, but Canada apparently has yet to realize the potential that exists for business in China. While the top 20 American companies have offices in China, only half of the top 20 Canadian companies have offices there. Yu said significant urbanization is underway in China with 300 million people expected to move into cities over the next three decades. "More than 220 cities will have more than one million inhabitants by 2025. This will present a huge market for services related to city construction and city planning," he said. "Canada has some of the most vibrant cities in the world and China should, and will, learn from the expertise of Canadian city development and city planning." Canada's abundant resources, proximity to the United States and excellent education system were also listed as factors, which make Canada attractive to Chinese investment. There is no shortage of Chinese interest in Canadian companies now, as Yu said in 2012, China spent more than $15 billion to purchase Calgary's Nexen. This was the largest investment the In front, from left, Consul Jianwei Yu of the Chinese Consulate in Toronto, Oakville Mayor Rob Burton, Senator Victor Oh with Oakville business leaders, from left in back, David Luciani, Linda Elphick, Martin Drew, Geoff Evans and Navi Dhami during an OakvilleChina Business Forum. photo by David Lea ­ Oakville Beaver (Follow on Twitter @halton_photog) Chinese government has ever made overseas. Yu provided tips for local companies interested in doing business in China and advised the Chinese market is very sophisticated and research is essential for success. While each province in China has its own social characteristics, compa- nies there prefer and respect face-toface meetings. "Getting a foothold in the Chinese market takes time and patience," said Yu. "It is all about trust and relationships. Long-term relationships are key to being successful in the Chinese market. Once the trust is established, CORK FLOORING BLOW OUT INVENTORY SALE PLUS 20% OFF INSTALLATIONS WHILE CURRENT QUANTITIES LAST AT THE CORK HOUSE HUGE SAVINGS ON SELECT STYLES OF CORK FLOORING Summerlicious 2013 Special Menu $39.95/person (Min. two persons), $35.00/person for paying cash. Reservation is required. Cork: Natural, Renewable, Sustainable,Versatile, Comfortable, Beautiful CORK FLOORING CORK WALL & CEILING COVERINGS CORK HOME DECOR CORK GIFT ITEMS · INSTALLATIONS D IS S C O V E R T H E B EA AU T Y O F C O R K ! Receive $35 cash certificate with this menu order 1. Thai Mango Crispy Shrimp Wonton Salad 2. King Prawn with Garlic Butter 3. Teriyaki Enoki Beef Rolls 4. General Tao Chicken 5. Pineapple Vegetables Fried Rice 2460 Neyagawa Blvd., #1, Oakville 905-338-1818 www.cynthiaschinese.com 905.257.5588 · www.corkhouse.com 2441 Neyagawa Blvd., Oakville the company can move incredibly fast." Yu recommended establishing local partners to promote the Canadian product or business and break down institutional, cultural and language barriers. Product localization was another tip. Those present also heard from David Luciani, president of the Oakville business Min-Chem Canada, who spoke about his own business dealings in China. "We ate at the executive lunchrooms. I had to drink gum bai, which is a `bottoms up' shooter and I'm not a drinker. I don't know this for a fact, but from my perspective they were trying to get me drunk to really test who I was as a person," said Luciani. "They wanted to see how I reacted when I was slightly inebriated. That was a real test as to whether they could trust me." "Oakville is looking to China to identify opportunities that benefit our town and our business community," Mayor Rob Burton said. "We need more industrious leaders like David Luciani of Min-Chem that have been successful in tapping into the booming Chinese market," said Burton. "The feedback from the forum has been overwhelmingly positive," said Dorothy St. George, the town's director of Economic Development. "The participants indicated that the forum was a useful first step towards doing business and establishing a greater familiarity with China."