On 7th Mar in Guangzhou, CBBC held its latest China Outbound Seminar part of the Guangzhou Enterprises “Go Global” Series – Invest in the UK. The event was hosted by the Guangzhou Municipal Commission of Commerce and the China-Britain Business Council, and was supported by the British Consulate-General Guangzhou and the Guangdong Chamber of International Commerce. Mr. Cao Zhicong, Counsellor at the Guangzhou Municipal Commission of Commerce, Mr. Jeff Astle, Executive Director China at CBBC and Mr. Steve Arrick, Economic Consul at the British Consulate-General Guangzhou attended the event. A Memorandum of Understanding (MoU) between the Guangzhou Municipal Commission of Commerce, the China-Britain Business Council, Invest Guangzhou and ABP was signed at the event to further promote the trade and investment between Guangzhou and UK.
During the seminar , experts from different sectors together with more than 90 representatives from Guangdong companies engaged in wide-ranging discussion on a series of outstanding issues around investing in the UK. Representatives from the British Consulate-General Guangzhou, London & Partners, ABP (London) Investment Ltd and DealGlobe introduced the business environment and projects in the UK.Gowling WLG, a law firm, raised a few important legal issues and solutions when investing overseas, in order to help companies better manage the risks. Many companies showed a keen interest in M&A opportunities with the UK’s innovative SMEs . Updates on the current business visa application process were also provided by UK Visa and Immigration (UKVI).
Mr. Cao, from Guangzhou Municipal Commission of Commerce, said, “The economic and trade communication between Guangzhou and the UK has always been active, and the trends are very positive. In 2016, our bilateral trade reached USD2.48 billion, ranking 2nd among Guangzhou and EU countries. In 2016, FDI investment from UK enterprises to Guangzhou reached 120 million USD, and Guangzhou enterprises directly invested 250 million USD into the UK These figures show a massive 66 fold and 19 fold increase on the corresponding 2015 figures. The amount of bilateral investment ranked 1st among all EU countries. Up to the end of 2016, UK enterprises have accumulatively set up 224 direct investment projects in Guangzhou, totalling USD940 million of investment. Meanwhile, Guangzhou enterprises have invested in 21 projects in the UK, with a total capital of USD280 million. Therefore, we foresee a prosperous future for cooperation. On behalf of the Guangzhou Municipal Commission of Commerce, we warmly welcome the CBBC to bring more business delegations to Guangzhou, to explore investment opportunities in Guangzhou, and to promote their business in Guangzhou. Of course, we will provide a high-quality service to Guangzhou enterprises, to support them going-global. ”
Jeff Astle, CBBC’s Executive Director, in his addres, said, ‘ the UK has been a hugely attractive destination for Chinese investors and the Chinese investment figures here in the UK remain very encouraging. Chinese investment in the UK now totals more than £11 billion. Some 500 Chinese companies have set up business in the UK and there are indications, not least from today’s turn out, that there will be many more to come. CBBC are working as a bridge to help more and more Guangzhou companies enter the UK market and are happy to support more Guangzhou companies to connect with UK business opportunities.
Since President Xi’s visit to the UK in 2015, China-Britain relations have entered a “Gold Era” and 2017 will see ties further strengthened between our two countries as we celebrate 45 years of China-Britain ambassadorial-level diplomatic relations this year. We expect that China and Britain will further deepen cooperation in many areas.
Finally, we would like to thanks our sponsors for this event:
For more information about this event, please contact:
020-8883 2120 ext 808