Nation and UK urged to deepen economic ties

Economic cooperation between China and the United Kingdom is gaining momentum despite global turbulence, business leaders and officials said at a forum in London on Wednesday.

The upbeat assessment came against the backdrop of British Prime Minister Keir Starmer's visit to Beijing in late January and China's annual two sessions, the meetings of its top legislative and political advisory bodies, outlining priorities for the 15th Five-Year Plan (2026-30) period earlier this month.

Addressing more than 300 representatives from sectors including manufacturing, finance and education at the 8th China-UK Economic and Trade Forum on Wednesday, China's Ambassador to the UK Zheng Zeguang said the recently concluded two sessions had sent a clear signal to the world amid a complex international landscape.

"China's development will continue to inject stability and certainty into the world, and we will remain a staunch force for peace, stability and development," Zheng said.

He called on business communities to seize opportunities arising from the new five-year plan, which prioritizes boosting domestic consumption, fostering innovation, accelerating green transition and expanding high-standard opening-up.

Zheng also invited British companies to participate in major Chinese trade expos, including the China International Import Expo, the China International Supply Chain Expo, and the China International Fair for Investment and Trade, to tap the vast market and strengthen two-way investment.

"I am pleased to note that AstraZeneca, Octopus Energy and Brompton have announced new investment plans for China. Meanwhile, China's Chery Automobile, JD.com and Pop Mart have unveiled new projects in the UK. I hope these initiatives will soon bear fruit," he said.

"The growing turbulence in the world makes it all the more important for China and the UK to strengthen cooperation. This meets the development needs of both sides and reflects the shared aspirations of our peoples. We should not shy away from difficulties, but press ahead in doing what is right," Zheng added.

Lucy Rigby, UK's economic secretary to the Treasury, said both governments share the goal of economic growth, and heightened global uncertainty underscores the need to build economic partnerships with major markets, as green transition and supply-chain resilience require international cooperation.

Rigby said that China remains a key contributor to global growth and an important partner for the UK. Chinese-owned businesses in the UK generate about 61,000 jobs and an annual revenue of 63 billion pounds ($83.6 billion), she said.

"As China continues to open up, opportunities are expanding across a wide range of sectors, from legal and accountancy services to education and e-commerce," Rigby said. "We also support further Chinese investment in key growth sectors in the UK as part of our industrial strategy."

Susan Langley, lady mayor of the City of London, said that London is the largest offshore renminbi trading hub and has hosted the issuance of the first Chinese sovereign and green bonds outside China.

"A significant number of Chinese banks and financial institutions are now firmly established at the heart of the City of London. We hope more will join us, as UK firms also expand into China," she said, adding that she will visit Beijing, Shanghai and the Hong Kong Special Administrative Region next week.

During a panel discussion, companies from both countries — including Chinese automaker BYD and e-commerce firm JD.com, as well as British bicycle maker Brompton and Chinese healthcare company Mindray — shared their experiences of expanding in each other's markets.

Will Butler-Adams, CEO of Brompton Bicycle, said trading with China is not as difficult as some British small businesses might assume. He also highlighted China's unilateral visa-free policy for UK passport holders, encouraging more businesses to explore opportunities in the country.

"Dip your toe in the water, try some Kweichow Moutai (China's most valued liquor brand) and a bit of Scottish whisky, hop on a Brompton — and you won't look back," he quipped. "It's been a fantastic journey, and I hope it will inspire more people to start their own journey in China."