UKAEG launches strategy to cement growth in China
OCTOBER 25, 2022
On September 29, the opening ceremony of the 2022 Shanghai International Advertising Festival took place. The China Guangdong International National Advertising Industrial Park and the UKAEG jointly held a signing ceremony to establish a partnership between the UK and Chinese markets.
Our CEO Stephen Woodford represented UK advertising and the signing of these Memorandum of Understanding (MOU) was witnessed by the President of the Shanghai Advertising Association; the President of the China Advertising Association; the Secretary of the Party Branch and Deputy General Manager of China Guangdong International; the Chief of Shanghai Municipal Administration of Market Regulation; the Secretary of the Party Working Committee and Executive Deputy Director of the Management Committee of Jiading Industrial Zone and the Deputy Secretary of the Party Committee and General Manager of Jiading Industrial Zone.
The ceremony celebrated the role that advertising has to play in the Chinese economy. Advertising is seen as a barometer of economic growth and development.
China has recently opened national advertising industrial parks. The MOU signed on September 29 sets out that the UK will work closely with the new national park in Shanghai (China Guangdong International), to create a space for cross-border international trade. It is hoped that this cooperation will actively promote UK advertising services whilst allowing UK companies to explore the Chinese market.
In his speech, Stephen Woodford, CEO, Advertising Association said:
“The UK and China’s advertising industry have a lot in common. In terms of adopting new platforms, new approaches and using creative technologies such as AI, VR, ARR and MR, both markets are dynamic and at the forefront of the industry. Advertising supports and facilitates trade between countries, introducing new products and services to each other’s markets. The UK Advertising Export Group is a partner of the Advertising Association, the Advertising Producers Association, the Advertising Practitioners Association and the Department of International Trade representing more than 50 UK advertising and marketing services agencies, and we are eager to do business with China and want China to do business with us.”