NANNING: Malaysian companies need to explore and expand into China’s second-tier markets by capitalising on the growing purchasing power there, Malaysia External Trade Development Corp (Matrade) trade commissioner in Guangzhou P. Suresh Kumar said.
He said second-tier cities such as Nanning, Foshan, Zhuhai, Nanjing and Tienjing were good areas for Malaysian companies to enhance their visibility in the ever-competitive markets in China.
“The focus now is also to expand into the second-tier markets. Alhough a city like Nanning is a second-tier market, the populace has purchasing power.
“The second-tier markets are rapidly growing,” he told Malaysian reporters on the sidelines of the just concluded China-Asean Expo (Caexpo) 2015 here.
The second-tier cities are regarded as the growth engines of China’s economy, boosted by huge amounts of investment, new infrastructure and an influx of talents.
He said Malaysian food and beverages had gained the confidence of Chinese consumers as they complied with the local standards while durian-based products, white coffee and curry powers were popular in the second-tier cities. — Bernama