After the UK votes to leave the European Union (Brexit), British goods will enter the Chinese market at cheaper prices, predicts eCommerce giant JD.com.
“British products will be more competitive,” says JD Worldwide director Tony Qiu, who has been in Paris talking with French companies about how to come out on top in the Chinese market.
Since British people voted to leave the EU, the pound has dropped almost 8 per cent against the dollar, accompanied by global stock market plunges, but Qiu says it is not yet clear whether the Brexit will impact his company’s business.
“JD does have the ambition to sell goods to the European people in the long run,” he says.
China’s second largest eCommerce platform, JD.com has already partnered with French brands such as Evian and L’Oreal to directly sell their drinks and cosmetics.