Sichuan-UK Business Dialogue in Chengdu

Sichuan is one of the most dynamic investment destinations in central and western China. In 2023, the province attracted RMB 24.52 billion in foreign direct investment (FDI), a year-on-year increase of 6.5%. A total of 908 new foreign-invested enterprises were established, up by 20.3%, bringing the total number of foreign enterprises to 5,390, an increase of 2.7%. All three indicators rank first in central and western China.

To further support foreign enterprises operating in Sichuan and attract more investment, the province regularly organizes government-enterprise dialogue sessions. These sessions aim to strengthen communication between the government and businesses, focusing on various areas of cooperation and creating a direct communication platform for both sides.

On December 2, the Sichuan Government-Enterprise Dialogue with Foreign-Invested Enterprises (UK Session) and the Sichuan-UK Business Matchmaking Conference were held in Chengdu. The event was co-hosted by the Sichuan Council for the Promotion of International Trade and the China UK Business Development Centre. Representatives from both governments and enterprises gathered to discuss further upgrades in bilateral trade and economic cooperation. The event was attended by representatives from 20 UK institutions and enterprises operating in Sichuan, along with 36 institutions and enterprises from Sichuan.

Serving the Opening-Up Strategy, Sichuan is rapidly enhancing its position as a strategic gateway for western China’s opening-up and as a new base for participating in global competition. Economic and trade exchanges between Sichuan and Europe are becoming increasingly frequent. In trade with the UK, from January to October this year, the total import and export volume exceeded RMB 12.8 billion, with imports from the UK surging by 61.4%. The UK is also a key source of foreign investment for Sichuan, covering sectors such as healthcare, infrastructure, engineering design, and aerospace.

A representative from the Sichuan Council for the Promotion of International Trade stated at the meeting:

“Today’s event is a concrete step toward seizing cooperation opportunities. The direct dialogue mechanism established on-site allows both sides to express their needs, solve problems, and promote cooperation face-to-face, facilitating mutually beneficial partnerships.”

A representative from the China UK Business Development Centre also remarked:

“Thanks to this event, UK enterprises can engage in in-depth exchanges with Sichuan’s government and businesses. This marks a critical moment for strengthening economic ties and deepening cooperation between Sichuan and the UK. By leveraging this dialogue as a bridge, we aim to explore new potential in areas such as trade, technology, innovation, energy, and infrastructure.”

For UK companies looking to expand their presence in the Chinese market, Sichuan serves as an ideal gateway. The province offers abundant natural resources, a vast market full of opportunities, and a favorable business environment, providing a strategic springboard for multinational businesses to establish themselves in China.

Indeed, as a province rich in population, resources, and economic strength, Sichuan boasts a consumer market of 91 million people, an economic output of over RMB 6 trillion, and an import-export volume nearing RMB 1 trillion. Leveraging its diverse resources, Sichuan, known as the “Land of Abundance,” has gained widespread recognition.

British company representatives at the event expressed enthusiasm:

“Through today’s platform, we hope to connect with more enterprises and explore new cooperation opportunities. We look forward to achieving mutual benefits and win-win results with Sichuan while promoting the high-quality development of our businesses.”

Currently, Sichuan stands at a new starting point of deeper interaction with the world and greater openness to global cooperation. The Sichuan Council for the Promotion of International Trade has further clarified its goals to enhance the role of its specialized service platform for foreign-invested enterprises. It aims to strengthen its service network for enterprises, expand its international partnerships, and provide practical support to foreign businesses operating in Sichuan. These efforts will contribute to the development of Sichuan’s open economy and accelerate the province’s progress in becoming a strategic hub for western China’s opening-up and a new base for global competition.