On Tuesday 24 July 2018, the Great Britain China Centre, the China Chamber of Commerce in the UK and the Institute of Directors held a roundtable for senior executives of Chinese companies in the UK, hosted by the Lord Mayor of the City of London, The Rt Hon Charles Bowman, at his official residence Mansion House. A small group of executives from the largest Chinese companies operating and investing in the UK, and UK participants with experience in UK-China commercial, legal, and policy spheres, engaged in a roundtable discussion on communication, transparency and trust.

Participants were welcomed by the Lord Mayor, who emphasised the importance of trust – the theme of his mayoral tenure – in his speech. The Lord Mayor commented on the increasing importance of trust, emphasising that trust is directly related to a desire to do business. He also stated that “confidence and trust” between Chinese and UK companies would be crucial to the success of projects like the London-Shanghai Stock Connect, which will further integrate British and Chinese financial markets, the Belt and Road Initiative, China’s flagship infrastructure initiative.

The Rt Hon. The Lord Mandelson, President of the Great Britain China Centre, former European Union Trade Commissioner and former British First Secretary of State, delivered a keynote speech, addressing key themes in international politics and trade and how these relate to Chinese companies in the UK and Europe. Lord Mandelson stated that “firms that succeed are those who consult, understand the environment that they operate in, prepare and adapst.”

During the roundtable discussion, participants discussed a number of issues of importance to Chinese companies operating in the UK, including communication, institutional and cultural differences between various marketplaces, and different ways to engage in socially responsible corporate practice. The China Chamber of Commerce’s chairpersonchairman, Sun Yu, who chaired the session, commented that “As China transforms from speed China to quality China, and as it continues opening up and committing to globalisation, I believe the UK is a natural partner for China, because it is known for good quality products and services, and because London is a global financial centre which did a great job in history in embracing the new comers in the international market”.

At the conclusion of the lively and in-depth session, participants stated that they looked forward to building upon the roundtable with follow up discussion and dialogue in the future, building understanding to strengthen UK-China commercial ties.