Focusing on the European market in 2023: where are the opportunities, and how can we be seized?

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Focusing on the European market in 2023: where are the opportunities, and how can we be seized?

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On March 24, 2023, the 2023 China-Europe Market Opportunities Exchange Conference and Saint Patrick’s Day celebration event were held in Guangzhou. This offline invitation-only event was jointly organized by 36Kr Global and Invest Northern Ireland. Coinciding with the grand Irish national holiday of Saint Patrick’s Day, the event was conducted in a cheerful and relaxed atmosphere. Chinese companies shared their experiences and insights into expanding their businesses in Europe while discussing the market opportunities and challenges of 2023.

Geraldine McCafferty, Deputy Ambassador of the British Embassy in China, was present at the event and delivered a welcoming speech. As a native of Northern Ireland, Ms. McCafferty mentioned that Northern Ireland has the highest level of happiness and quality of life in the entire UK. And Richard Seymore, the China Area Director of Invest Northern Ireland, provided a brief introduction to the advantages of Northern Ireland, including having the lowest corporate tax rate in Western Europe and leading research capabilities. Furthermore, after the UK’s exit from the EU, Northern Irish businesses enjoy unique advantages, such as easy access to both the UK and EU markets and preferential policies in customs clearance, goods regulation, and product sales, which are unparalleled in all of Europe.

In the past year, what has happened in the European market? Head of 36Kr Global Research Institute, pointed out that in the past year, Chinese products in the categories of cold-weather goods and electric vehicles have performed well in Europe, despite the impact of factors such as climate change, the energy crisis, and the pandemic. More and more Chinese companies are actively opening up the European market. China and Europe still maintain a close economic and trade relationship, and it is expected that they will continue to find common ground and collaboration opportunities in areas such as new solar energy, environmental protection, sustainable development, and the digital economy in the future.

Currently, the Chinese new solar energy industry continues to be popular in the European market, with a particular focus on the solar photovoltaic and electric vehicle charging industries. In the field of photovoltaics within the new solar energy sector, China’s current scale of development is already a global leader. We believe that to successfully enter the European market, the key lies in whether companies can improve their products, enhance their technology, and expand their differentiation based on the specific pain points of local consumers, as well as whether they can seize the right timing. For example, a new product like the photovoltaic solar energy storage system (a combination of photovoltaic inverters and solar energy storage cabinets) can help simplify operations for users.

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