CBBC Chair: British companies in China remain optimistic, forecasting continued growth

BEIJING - In an exclusive interview with Guangming Online on May 16, 2024, Sir Sherard Cowper-Coles, Chair of the China-Britain Business Council (CBBC), highlighted the unprecedented scale of economic cooperation between the UK and China. He noted that British companies are optimistic about future growth, driven by China's leading innovations and strong economic ties.

According to Sir Sherard, China has become the UK's third largest economic partner, with trade and investment flows surpassing £100 billion annually—a historic peak. "China invests more in the UK than in the entire European Union," Sir Sherard noted.

Sir Sherard pointed out that China's advancements in critical 21st-century technologies, such as new energy vehicles, digitization, and renewable energy, offer significant opportunities for collaboration. "China has overtaken the West in many of these technologies, not just in manufacturing but also in innovation and ideas," he remarked.

Despite acknowledging concerns in certain sectors, Sir Sherard conveyed a positive sentiment from British companies operating in China. These businesses, many with decades-long presence, are optimistic about China's economic outlook, forecasting growth rates above 5%.

"Everyone benefits from trade, and all ships float on a rising tide of trade, investment, and economic interchange," Sir Sherard stated, advocating for a continued, constructive partnership between the two nations.