The following is a transcript of a speech by Benjamin King, CEO of Kinyu SCM, at the GD Today Salon at the 135th Canton Fair on April 15, 2024.

Ladies and gentlemen, distinguished guests, welcome to the Canton Fair. My name is Benjamin King. I am the founder and CEO of Kinyu SCM, a supply chain consultancy that creates people-focused solutions for your China operations.

It’s great to see so many people here on the first day of the Canton Fair. Since the pandemic, it has taken some time for people to return to China and the fair, but now it feels livelier than ever.
I will first give a bit of background about myself and my involvement with the Canton Fair, then I will share my thoughts on how the people in China make the magic happen.

I first came to China in 2012 when a Chinese friend from school invited me here. We traveled to Beijing, Shanghai, Changsha and Guangzhou.

I instantly fell in love with the country and wanted to return. While at university, I would save up money to return to China in the summers to visit friends and also start sourcing products for companies in the U.K.

Then in 2016, I had the opportunity to move to China and invest in a supply chain finance company in Changsha, Hunan. I was 24, and I jumped at the opportunity. I moved to Changsha to build a new life in China.

However, things did not go very smoothly for me. My Chinese was not very good, and I actually knew very little about developing business, and even less in China. My previous trips to China were fun, but now it was not a game. Over the years, I taught myself Chinese by reading insurance contracts, shipping documents and listening to my colleagues in the office.

I did manage to develop some business for this company, but I found more value in supporting the operations of foreign companies on the ground in China. When I moved to China, one of my key motivations was to be the bridge between Chinese and Western companies. I even wrote my master’s dissertation on the topic of guanxi when at university. But only when living and working in China did I truly come to understand how business in China is all about connecting with people and building relationships. The personal touch to business in China is what makes this country so special.
So I left the supply chain finance company and started working as a China country manager for a British company.

I would help the foreign company with supplier relationships, procurement, logistics, as well as sourcing. This brought me to the Canton Fair for the first time in 2018.

During COVID-19, I realized more and more companies needed supply chain support on the ground in China. Many companies wanted me to be their China country manager, even if I had no idea about their products!

Therefore, I decided to hire experts in different product categories, and then I would manage them on the ground for our clients.

This led me to set up Kinyu SCM and The China Desk, where we employ and manage supply chain personnel on the ground for foreign businesses. In 2020, my family and I moved to Guangzhou and decided to make this beautiful city our home and the base for our business. Our office is just a 10-minute drive from here (on a good day).

Our customers have purchased goods from China worth over $140 million USD over the last five years. The China Desk operation that Kinyu has set up plays an active role in managing this trade. The China Desk also creates jobs on the ground in Guangzhou, as well as in Tianjin, where we have a branch office.
We have the mission to develop new jobs on the ground in China, be a great employer and empower the supply chain operations of our clients.

So how does my story, and that of Kinyu, connect with the Canton Fair?

Well, I first visited the Canton Fair as a buyer, as someone on the ground. I helped my clients source products, and the Canton Fair was a great place to start.

I then also came to the Canton Fair as an exhibitor. We exhibited in the trade services section last year. This year, I am here as a visitor but mainly to see the Canton Fair and meet more people.

At the heart of China’s success story lies its people – the driving force behind the remarkable growth and prosperity that we witness today. The industrious spirit, untiring dedication and boundless creativity of the people have propelled China to the forefront of the global economy.

Many companies travel to China and to the Canton Fair to look for new products. But the most important aspect of the Canton Fair is the people.

Many of the products on show at the fair are developed by engineering talent in China. The components that make up these products are trucked across the country by people. These components are then assembled, for the most part, by people.

And today, the first day of the Canton Fair, buyers are here to meet the people who represent this supply chain.

In every corner of the country, from the bustling cities to the distant countryside, it is the people who breathe life into the supply chain — the unsung heroes who work tirelessly to ensure the seamless flow of goods and services across borders. Their ingenuity, skills and commitment to excellence form the bedrock of China’s manufacturing industry, making it the undisputed hub of global trade.

Just like the Canton Fair and supply chains across China, our company Kinyu is built on the foundations of people.

So, if you can take anything away from my speech today, it is that business in China is all about relationships and people. Find the right partner, and make sure you communicate well with them and build a strong personal relationship – and then the business will flow smoothly.

So today and for the next three weeks, I wish you all the best in meeting the right people and finding the right products for your business to succeed.

Thank you for your time, and I wish you a wonderful stay in Guangzhou.

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Global events are impacting supply chains and economic stability, affecting not only container space but also currency values. As a supply chain-focused Employer of Record, our clients spend millions of dollars on goods annually, making even slight fluctuations in currency rates significantly impactful.

This underscores the importance of having a reliable currency broker. Thwaytes Capital, a leading currency broker, operates above FCA-regulated entities in the City of London. Thwaytes serves global companies needing currency exchange and offers same-day transactions, hedging (currency protection), and third-party payments.

Through this partnership, members of The China Desk will receive preferential rates on foreign exchange, while clients of Thwaytes Capital will get a $500 USD discount voucher for Kinyu’s Launch Phase when utilizing The China Desk.

“Our partnership with Kinyu has proven the importance of why you should use a currency broker when dealing with China,” said Charlie Thwaytes, co-founder and director of Thwaytes Capital. “Companies have really gained value utilising the hedging tools when buying U.S. dollars or Chinese yuan. Our client have gained significant value when using Kinyu’s offering in China, it has solved so many teething problems within the supply chain on behalf of the U.K. and European businesses we deal with.”

“We have been working with Charlie and the team at Thwaytes Capital for many years and are excited to formalize this partnership. This allows members of The China Desk to access expert advice and support on currency movements,” said Benjamin King, CEO of Kinyu SCM.

If you would like to learn more about how to manage your currency risks when importing products from China, please get in touch with Charlie at the following email:

ct@thwaytescapitalgroup.co.uk
www.thwaytescapitalgroup.co.uk

If you are an importer looking to get boots on the ground in China to support your supply chain operation, get in touch with the team at Kinyu to learn more about The China Desk!

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The partnership sees Kno Global utilising The China Desk by Kinyu for operational support in China. Additionally, it leverages Kinyu’s manufacturing and supply chain network for business development purposes.

Clients using The China Desk will gain preferential access to Kno Global’s technology. This access will further enhance their social compliance efforts on the ground in China.

“Using the China Desk by Kinyu has given us renewed confidence in our China operations. Not only is it a great platform to support our existing operations, but Kinyu is embedded within China’s supply chain ecosystem, so we have been able to engage with factories and supply chain companies to further develop our business in what can be a challenging market,” said Marianne Hughes, CEO of Kno Global.

Kno Global’s platform is an effective tool for reducing “social audit fatigue” among suppliers. Factory workers can use the Kno Global platform to report grievances and suggest improvements to their work environment. Additionally, they can access learning modules for stress management. The platform not only enhances social responsibility and transparency for major Western brands but also improves worker retention in factories. This helps limit staff turnover, saving on recruitment costs and ensuring consistent quality levels in production.

Companies can also employ the platform in an office setting, providing a safe environment for whistleblowers – an increasingly important issue.

“We are really excited to deepen our cooperation with Kno Global in China, as social compliance and worker retention are such tricky areas for both brands and factories. This partnership advances Kinyu’s goal of becoming a people-centric supply chain company by providing the transparency and data that brands and plant managers crave,” said Benjamin King, CEO of Kinyu SCM.

The partnership with Kno Global strengthens Kinyu’s position as a leading supply chain-focused employer of record in China. Kinyu focuses on the people who operate global supply chains and offers a holistic HR solution via The China Desk to foreign companies, utilising its offices across China.

Contact us today to discover more about how The China Desk and the Kno Global solution can benefit you!

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CW CPA is a professional advisory and CPA firm owned and managed by Thomas Wong and Rosanna Choi. Headquartered in Hong Kong, CW CPA has offices strategically located across China, Spain, the U.K., and Latin America.

A key offering from CW is their Hong Kong Service Package, which enables businesses from around the world to set up a company, bank account, and registered address remotely. This service can allow businesses to procure goods from China with ease and take advantage of a business-friendly legal framework.

The China Desk

Through cooperation with Kinyu SCM, companies can now hire team members on the Chinese mainland via The China Desk. Therefore, clients of Kinyu SCM and CW CPA can establish a robust, flexible procurement structure. They achieve this by having a dedicated sourcing team, without the need for travel or paperwork management.

This can be accomplished in a fraction of the time and cost compared to directly setting up a China entity. Moreover, if clients choose to establish an entity later, Kinyu and CW will support their next steps.

The Perfect Mix of Supply Chain Management and HR

Kinyu SCM and CW are also partnering in HR and accounting to ensure compliance. This collaboration offers clients a seamless and worry-free operational experience.

“At Kinyu, we believe that companies frequently set up Chinese entities prematurely. We are happy to partner with CW, whereby they can promote the concept of a supply chain and manufacturing-focused HR solution This strategy will save their customers significant costs each year,” said Benjamin King, CEO of Kinyu.

“We are very excited to join forces with Kinyu SCM to provide an even more holistic solution for our clients by catering to their individual sourcing needs. Traditionally, foreign businesses have come up against various challenges associated with procurement, such as time-consuming procedures, burdensome paperwork, and the need to travel for sourcing purposes. Our synergistic partnership will enable our clients to achieve their procurement objectives efficiently through an agile, compliant, and cost-effective structure,” said Thomas Wong, partner of CW CPA.

Check out our case study and get in touch today to discover how we can enhance your procurement and supply chain operations!

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Although such creative tasks can be performed in a company’s home country, like the U.K., the process can be costly and time-consuming due to the shipping of samples. This issue is further compounded for larger items that are not easily air-freighted. While the emergence of creative studios across China has begun to address this need, Kinyu has chosen to collaborate with Bold Nation, drawing on a shared culture and a seamless working relationship.

This collaboration is a key feature of the Kinyu Resource Platform, which enables companies to engage with on-the-ground resource partners. Clients associated with The China Desk will receive a special discount. Specifically, Kinyu’s U.K. clientele will gain from the localized British creative support in China, thereby enhancing their creative media processes.

Benjamin King, CEO of Kinyu SCM, states, “The China Desk is all about offering vital functions on the ground to companies who do not have their own presence here – the creative function that Jay and his team bring to the table will be a major advantage to those needing support in their product and supply chain departments.”

Jay Ian Birbeck, CEO of Bold Nation, comments, “Having worked with Kinyu for several years, we are thrilled to cement our partnership. This step forward will significantly advantage the clientele of The China Desk.”

Businesses seeking to elevate their creative capabilities within the supply chain are encouraged to reach out and explore this innovative opportunity. For inquiries and further information, please contact us!

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Having a dedicated team on the ground is undoubtedly the most effective way to manage your supply chain in China. But for foreign companies, deciding who to hire and when can be a difficult and risky process.

Initiate your China operations by hiring our Streamline Manager!

To alleviate these common pain points, Kinyu is launching a flexible, part-time model of its China Desk service called ‘Streamline.’ We can help you engage supply chain personnel for up to 10 hours a week without any strings attached, long-term commitment, or involvement with China labour laws. 

With Streamline, you receive your dedicated Manager within 72 hours and can flexibly deploy them while our Kinyu Management team helps you plan your long-term China strategy. The Streamline Model offers flexibility and is an optimal solution for startups and high-growth companies aiming to establish a foothold in China.

Streamline will also open access to a part-time China-based team member, representation on the ground, flexible deployment, access to Kinyu’s resource platform, expert advisory, and partner networks. 

Discover the benefits of the Streamline Model and set your business on a trajectory of success in China today!

To learn more about, check out our new web page or book a meeting with one of our experts!

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Kinyu is pleased to announce the launch of its flagship function: The China Desk. 

Founder and CEO Benjamin King has spent many years analysing supply chain outsourcing services in China. Quickly, he recognised a need for a transparent model with the control of an internal team and a cost-effective setup. What started as part-time representation for UK companies has led Benjamin to develop a scalable version of his approach. 

The China Desk will search, hire, manage and empower team members for client companies. This function turns the ‘man on the ground’ stereotype into ‘management’ on the ground. It includes employee engagement, supply chain monitoring and access to Kinyu’s Resource Platform of third-party services.

In times of significant change and disruption to global supply chains, companies need tools to plan ahead. The China Desk is a value-add function for companies that do not have a presence in China, helping them take advantage of the Chinese market. In addition, this solution eliminates the need to set up an entirely new and dedicated team with a workspace in China.

The premise behind The China Desk is surprisingly straightforward within the complex landscape of the China marketplace. In a world where you must balance operational efficiency with cultural considerations, Kinyu offers its clients space and resources to strengthen their supply chain. Benjamin and his team in China have combined three critical assets- personnel, advisory and relationships- into one comprehensive service. The result? Each client has access to all the benefits of having a China-based team- without the additional consideration of setting up a team supplemented by an office and its supporting requirements. 

Kinyu’s clients take advantage of a range of value-add services, such as an extensive Supply Chain Network, personalised HR Management, and expert support for clients in the form of NEDs- assisting them in navigating this challenging market. 

With global supply chains’ challenges, the need for a function such as The China Desk is more pressing than ever. The situation across China regarding the Covid-19 pandemic remains highly changeable. With an established team on the ground, Kinyu’s clients receive weekly intelligence on the developing logistical conditions and can adjust their planning accordingly. 

‘Reconsider your global strategy, secure your supply chains, continue to diversify, plan in scenarios, get your business case right.’

– The German Industry Association, April 2022

Strengthening the supply chain is a crucial point addressed by The China Desk. This flagship operation aims to bridge the communication gaps within cross-cultural cooperation. Further, this high level of integration also assists business owners in achieving further transparency across their supplier’s various staff, management, and upstream supply chain to maintain vision and protect their IP.

With new offices in Tianjin and Guangzhou, Kinyu is already hiring people on the ground for UK companies. Through The China Desk, clients can now hire Supplier account managers. These account managers act as key coordinators on the ground and specialist engineers to fill the gaps in technical support. This function has benefitted both SMEs who need cost-effective support and multinationals who value flexibility. No two businesses are the same, so whatever your needs- we can deliver them through The China Desk’s pick-and-choose Model. 

For more information and an overview of the packages available, please visit https://www.kinyu.co.uk/china-desk/. You can also get in touch via info@kinyu.co.uk or give them a ring at +86 181 7315 8445.

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