A 40-member business delegation is in China for a five-day programme of meetings and events, led by Malta Enterprise chairman Alan Camilleri.
Finance Minister Tonio Fenech, who was originally to lead the delegation, had to travel to Brussels instead this weekend for an urgent ECOFIN meeting about emergency rescue package for Greece.
The trade delegation, which includes representatives of firms from various sectors including real estate and eco-energy solutions, will, from today, hold a series of pre-arranged one-to-one meetings with Chinese business people first in Beijing and in Shanghai later in the week. The visit has also been timed to coincide with Malta Day at the Shanghai World Expo on Friday.
A business forum at the St Regis Beijing hotel tomorrow will be addressed by Mr Camilleri before he joins a panel discussion with Malta Chamber president Helga Ellul, GRTU director general Vince Farrugia, and Finance Malta chairman Kenneth Farrugia.
"China has by far outgrown the economic growth rate of all developing and developed nations in the World," Mr Camilleri told The Times this week. "In 2009, in the midst of the worst ever recession since the last world war, China has managed to achieve an impressive economic growth rate, outpacing other developing countries such as India, Brazil and Indonesia.
"The delegation's visit to China is part of Malta Enterprise's ongoing efforts aimed at attracting foreign investment to Malta as well as aiding local entrepreneurs expand their business or enter new markets abroad."
On Wednesday, the delegation will fly to the port city of Ningbo, a four-hour drive from Shanghai. The economic centre of the Yangtze River delta, Ningbo has been deemed by the United Nations to be among the cities with the most promising prospects in the country. The port's cargo throughputs are among the world's highest.
Delegation leaders will address participants to showcase Malta as the 'gateway to Europe' during an event at a local hotel. The conference will be closed by Malta's Ambassador to China Karl Xuereb after a networking session. In the city, the delegation will be hosted by the Ningbo Foreign Investment Bureau.
Maltese entrepreneurs will hold more one-to-one meetings at the St Regis Shanghai hotel on Thursday morning before proceeding to a networking event at HSBC's head office in the city.
The flag-raising ceremony at the World Expo will take place on Friday morning, when tenor Joseph Calleja will give a half-hour performance to celebrate Malta Day. The delegation will be given official tours of the major Expo pavilions and will also hold a press conference for international media.
With the theme '8,000 Years - A Life Centre', the Malta Pavilion will focus on the influence of tradition on contemporary urbanisation. The stand, featuring a fully-fledged Cafe Jubilee, has been designed to take visitors on a journey into Malta's history, its present resources and future ideas for a better city life, and is to boast the latest technology in intelligent lighting and audio visuals.
It encompasses flowing sculptural forms representing the megalithic heritage and historical urban development blending into depictions of contemporary Malta.
HSBC Bank Malta is partly sponsoring the business delegation's visit which is also supported by Maltese and Chinese business organisations and societies. The bank has tapped its extensive network in China to facilitate contacts for Maltese business people.
With a population of 1.34 billion, China is home to a fifth of the world's population. Its GDP at the first quarter of this year stood at 13 per cent. In 2009, its GDP fell to 8.7 per cent from the previous year's 9.4 per cent. Its enormous consumer market is growing increasingly affluent: Last year, China overtook the US as the world's largest luxury goods consumer.
Besides the resources to invest, Western entrepreneurs seeking to do business in China must have a thorough understanding of Chinese business practices, culture and social graces. Malta Enterprise has advised the firms to work at their 'guanxi' (relationship) with their Chinese contacts for their business strategies to be successful.