On 25 February, the CCCUK worked with Grant Thornton UK LLP and China Daily UK to release the Report on Follow-up Survey of Investment in UK and issued the annual list of the 30 fastest-growing Chinese enterprises in the UK on 25 February. Minister BAO Ling from the Chinese Embassy in the UK, Dave Dunckley, CEO of Grant Thornton UK LLP, FANG Wenjian, Chairman of the CCCUK and General Manager of Bank of China London Branch, YU Yilei, General Manager of China Daily UK and other guests attended and addressed the event, which was attended by nearly 200 representatives from the Chinese and British business communities.
The Report on Follow-up Survey of Investment in UK is an annual survey report on the latest trends of Chinese enterprises’ investment in the UK and an important source of information on the performance and achievements of Chinese enterprises in the UK. Based on the investment and operation of Chinese enterprises in the UK, this year’s report announced the 30 fastest-growing companies and included an in-depth summary of the present status and trends of Chinese enterprises’ investment in the UK.
Investment Strength and Industry Segmentation of the Chinese Enterprises in the UK
The Report indicates that the UK remains one of the principal destinations for Chinese investment in Europe. Chinese enterprises in the UK exhibit an excellent momentum of development and wonderful integrated strength. Despite the drawbacks of trade tensions and COVID-19, the business activities of Chinese enterprises in the UK remained resilient last year. 838 Chinese enterprises were brought under the follow-up survey for the Investment-in-UK Vitality List in 2020, and that figure was 795 in 2019 (increased for three consecutive years); Chinese enterprises created more than 75,000 jobs in the UK, an increase of more than 4,000 over 2019 (increased for two consecutive years); the total operating income of the surveyed enterprises reached 92 billion pounds, a year-on-year increase of 1 billion pounds; the total value of Chinese M&A deals in the UK reached 4.7 billion pounds, an increase by 31% over 2019. Despite the increase of Chinese investment in the UK, the total number of deals reached 25, a 46% decrease from 2019; this indicates that the COVID-19 and associated travel restrictions have taken a toll on business transaction.
Business Volume between 2016 and 2020
Minister BAO said in her speech that the vitality list of Chinese enterprises in the UK has constantly extended its influence since its launch in 2013, and is currently an important window for the follow-up understanding of the performance of Chinese enterprises investing and operating in the UK and an important platform for displaying the image of Chinese enterprises and promoting the latest achievements of China-UK win-win cooperation. Minister BAO pointed out that the achievements of Chinese enterprises deserve congratulations although the year 2020 was full of challenges. She congratulated the enterprises on the list this year and brought forward three points of her hope: First, building firm confidence in the mutually beneficial cooperation between China and the UK; second, continuing to explore highlights of cooperation under the new circumstances; third, working together to preserve an open and inclusive business environment.
Dave Dunckley, CEO of Grant Thornton UK LLP said that the year’s investment-in-UK survey demonstrates that Chinese enterprises created tens of thousands of jobs in the UK and kept on with outstanding contribution to the growth of the UK economy.
FANG Wenjian, Chairman of the CCCUK and General Manager of Bank of China London Branch stated in his speech that the report on the follow-up survey of the investment in the UK indicates the positive prospects of Chinese enterprises investing in the UK. Over the past year, the number of Chinese enterprises investing in the UK has increased, and the positive contribution that Chinese businesses have made to the British society was obvious to all; furthermore, there is huge potential for future cooperation between China and the UK. CCCUK will properly serve the Chinese enterprises in the UK and take the China-UK trade cooperation to a new level.
According to YU Yilei, General Manager of China Daily UK, the authoritative data of the Follow-up Survey of Investment in UK released in the event gives us reason to be optimistic about China-UK relations. Even in the face of difficulties such as COVID-19, the Chinese enterprises in the UK are still full of vigour and vitality.
The event released the vitality list of Chinese enterprises in the UK 2020; 30 fastest-growing Chinese enterprises borne the palm. Heads of Haier UK and BYD UK delivered testimonials on behalf of the award-winning enterprises. Other guests at the event all affirmed the performance of Chinese investment in the UK last year, and expressed their hope to impulse the benign development of the China-UK economic and trade cooperation.
The 30 enterprises on “the vitality list of Chinese enterprises in the UK 2020”