China's economic "new normal" can bring more opportunities for
UK companies, British business leaders said on Wednesday.
James Sassoon, chairman of the China-Britain Business Council, said China is undergoing a period of further transformation.
"It is stepping away from labor-intensive exports toward a more highly mechanized and service-originated economy, with heightened resilience on domestic demand and added emphasis on environmental sustainability," he said at the China Business Conference in London.
Premier Li Keqiang announced a growth target of about 7 percent for this year at the ongoing National People's Congress annual session as China moves toward a "new normal" of lower, more sustainable growth.
Sassoon added, "We should welcome and embrace these changes, and make sure we are well positioned to seize the opportunities they present."
Exports of British cars to China have increased sevenfold since 2009, according to the British Society of Motor Manufacturers and Traders. Last year, 137,410 UK-built cars were exported to China, a year-on-year increase of 14.5 percent.
Last year saw enhanced Sino-UK economic cooperation, with bilateral trade reaching a new high of $80.9 billion, a year-on-year increase of 15.3 percent, according to the Chinese embassy in Britain.
The internationalization of Chinese firms have provided great opportunities for Central Hall Westminster, an iconic London venue which is increasingly hosting outbound Chinese events and firms in recent years.
Examples include a conference by the Chinese telecommunications giant Huawei, and also Chinese film festivals in London, said Kevin Blackman, senior sales manager at Central Hall Westminster.
"As Chinese businesses become more international minded as a result of China focusing on international growth and innovative growth, we will have more clients from China, and we are going through a process to adjust our services to their needs," Blackman said.
京公网安备 11010502030596号
