Challenges galore, but trade firms tough it out

“The labour costs are relatively low there, and thanks to the continuously improving interconnection between China and the South-East Asian nations, it has also become quite convenient to transport raw materials and other resources to factories there from China,” Wu said.

BEIJING: Over the last few years, Wu Dazhi, president of the Guangzhou Leather & Footwear Association, has seen China’s foreign trade companies undergo a remarkable makeover, which, he says, encapsulates the amazing resilience of the Chinese business spirit in the face of a plethora of seemingly insurmountable odds.

To buttress his point, Wu cited the instance of a number of Chinese companies that have invested in or built new factories in South-East Asian countries, especially in the northern region of Vietnam, which neighbours China.