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UK businesses warm up to Chinese premier's visit

2014-06-12 15:33 CRIENGLISH.com Web Editor: Gu Liping
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In the lead up to Chinese Premier Li Keqiang's impending visit to the UK, businesses leaders from both sides are engaged in active talks about cross-border investment and bilateral cooperation.

Among the series of discussions have included a gathering of Chinese and UK CEO's. Lord James Sassoon, Chair of the China-Britain Business Council, says he hopes Li Keqiang's trip to the UK will help open up business opportunties for a larger part of Britain.

"Although probably the Premier won't have much chance to go outside of southeast of England, I don't know what his programme will be, but what was great about David Cameron's visit was that he didn't just go to Beijing and Shanghai but he also went to the center and west of China, to Chengdu. It's a reminder of just what the opportunities are right across China and not just in the most obvious east or coastal cities. "

When it comes to British investment in China, Lord Sassoon says he believes there is a vast market that has yet to be explored.

"In particular what Premier Li talked about as a new objective which he called 'three hundred millions'. This is the plan in which he stated that a hundred million additional rural dwellers will be relocated to urban areas, a hundred million rural houses will be rebuild and a hundred million people will be encouraged to move to cities around the center and west of China. I think it does underline the continuing signs of the opportunity there is for British as well as Chinese business."

There has been a rush of private-sector Chinese money flowing into the UK this year, with Chinese companies already committing 4.5-billion US dollars through the first 4-months of this year.

Ron Dennis, chair of the First UK-China Business Leaders Summit held in London in early June, attributes the flourish of Chinese business interest in the UK to the complementary economic structures of the two countries.

"Of all countries in the world, the UK is best placed to deliver what for the current stage of its development. The UK is a world leader in innovation and emerging technologies ranging from pharmaceuticals to clean energy, we have world class know-how which could make a real difference in China."

Stephen Perry, chair of the so-called "48 Group Club," led the forum discussions at the meetings.

Perry's "48 Group Club" is the name given to a group of British businessmen who travelled to the newly-founded People's Republic of China some 60-years ago to try to establish business ties.

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