On 2nd Nov CCCUK hosted forum of "China's New Journey, World's New Opportunities--the 5th China-UK Economics & Trade Forum". The event is specially supported by Chinese Embassy in London. CUKBDC Chair Mr. John Mclean OBE spoke.
Chinese Ambassador at Our Forum
What does the 20th National Congress mean for China’s relations with Europe and the UK? I would say: it means new opportunities and new energy.
Against the backdrop of global instability and uncertainty, China and Europe, as two major forces in the world, should uphold dialogue and cooperation and oppose division and confrontation. We should strive for mutual benefits and reject decoupling and disruption of industrial and supply chains. And we should champion multilateralism and resist unilateralism. There are upcoming high-level visits to Beijing by European leaders. I believe that by working together, China and Europe can provide more positive energy for the world.
The China-UK relationship is one of great importance. As a matter of act, this year, we are marking the 50th anniversary of the establishment of our diplomatic relations at the ambassadorial level.
Over the past 50 years, China and the UK have had close exchanges and cooperation in many areas and made a lot of achievements. Facts have proven these cooperation are mutually beneficial.
In spite of the surging pandemic and sluggish global economy, China-UK business ties have continued to grow. In the first half of this year, two-way commodity trade exceeded 50 billion US dollars; by last August, two-way investment stock reached 50.4 billion US dollars. This speaks volumes about the resilience and complementarity of our relations. It also testifies to the strength and dynamism of Chinese and UK companies.
Going forward, there is a lot that can be done in practical cooperation between China and the UK. The two countries are well positioned to enhance exchanges and cooperation in trade, investment, new energy, finance, education, culture, climate response and many other areas.
China is the second largest economy with a huge market, and the most comprehensive industrial chain. More importantly, China has a strong leadership which provides predictable, consistent and credible policies. China’s development will provide enduring positive energy into world development.
In responding to Covid-19, China has put the people and their lives above all else. With a dynamic zero-Covid policy, we have made quick responses with targeted measures. We have protected the people’s health and safety to the greatest extent possible and maintained sustained and stable economic and social development. We are confident that the dawn of victory is just ahead of us.
Last May, China launched a package of polices to stabilise the economy and put forward 33 measures on six fronts including in the financial sector. These policy measures have pushed China’s economy back on the normal course and kept its major economic indicators within the appropriate range.
The Chinese economy has great resilience, potential and latitude. Its strong fundamentals will not change, and it will remain on a positive trajectory over the long run.
China is committed to its fundamental policy of opening to the outside world and pursues a mutually beneficial strategy of opening up. We will promote high-standard opening up, steadily expand institutional opening up with regard to rules, regulations, management, and standards and work to create a market-oriented, world-class business environment governed by a sound legal framework.
Shortly after the closing of the Party Congress, China announced 15 policy measures to expand foreign capital and stabilise the FDI in the country and issued the 2022 version of the catalogue of encouraged foreign investment industries. China’s high-quality development and high-standard opening up will provide a sustained drive for global economic recovery.
China welcomes more quality products and services from the UK. We will continue to provide facilitation to British businesses in pursuing cooperation in China, and hope that the UK will follow the principle of free trade and WTO rules, and work to maintain a fair, just and non-discriminatory environment for Chinese businesses in the UK.
For the UK, China represents the future and opportunities. To view China as a threat is to lose touch with the reality and to decouple from the future. The UK now has a new government. It is hoped that the UK side will work with the Chinese side in the same direction, uphold dialogue and cooperation, follow the principles of mutual respect, openness and inclusiveness, focus on cooperation, and properly manage differences. This is the right way to keep the China-UK relationship growing on the right track.
The business communities of both countries have been an important and reliable positive force in China-UK relations. I hope that you will take this forum as an opportunity to contribute your insight and strength to stronger practical cooperation in business and other areas between our two countries. Your contribution will go a long way to create more highlights of bilateral cooperation, and your efforts to promote the steady and sustained growth of China-UK relations will bring greater benefits to the two peoples.
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