On 25 November (London time), the 4^thChina-UK Economic and Trade Forum & The Launch of ‘2021 Report on the Development of Chinese Enterprises in the UK’, hosted by the CCCUK and specially supported by the Chinese Embassy in the UK and the UK Department for International Trade, was successfully held online.

Just after the 26^thUnited Nations Climate Change Conference (COP26) and the United Nations Biodiversity Conference (COP15), the 4^thChina-UK Economic and Trade Forumis the first large event held between China and the UK Under the guiding principles of COP26 and COP15, the Forum intensively interpreted and discussed the way to implement relevant proposals and initiatives put forward at COP26 and it was highly meaningful to the future green cooperation between Chinese and British enterprises.

More than 700 Chinese and British dignitaries and businessmen registered for the online event,and over 270,000 people watched live streaming through the CCCUK’s official website, Weibo, Twitterand Facebook.

 

The China-UK Economic and Trade Forum was Successfully Held & Discussion on

New Opportunities for Green and Sustainable Development

 

The Forum highlighted the theme “UK-China Green Cooperation – New Normal, New Opportunities”. The business leading figures in China and the UK gathered together to discuss and seek opportunities for cooperation, explore the path of green and sustainable development, enhance the value of UK-China cooperation, develop new growth points for UK-China green cooperation, promote green and low-carbon development in both countries, and further develop China-UK economic and trade exchanges and cooperation.

A total of 16 political, business leaders and academics attended the event and delivered speeches, including H.E. ZHENG Zeguang, Chinese Ambassador to the UK, Lord Gerry Grimstone, Minister for Investment of DIT and BEIS, Dr. MA Jun, Chairman of China Green Finance Committee and Director of the Beijing Institute of Finance and Sustainability, Mark Logan MP, Vice Chair of the All Party Parliamentary China Group, John Edwards, HM Trade Commissioner for China, FANG Wenjian, Chairman of the China Chamber of Commerce in the UK and General Manager of Bank of China London Branch, and Sir Sherard Cowper-Coles, Chairman of the China-Britain Business Council,Group Head of Public Affairs, HSBC Holdings plc.

H.E. ZHENG Zeguang, Chinese Ambassador to the UK, delivered a keynote speech

H.E. Zheng Zeguang, Chinese Ambassador to the UK, attended the event and delivered a keynote speech. He said that China is taking the lead in economic recovery, and contributing to the stability and reliability of the global industrial and supply chains as well as to global economic recovery. China’s major strategies and policies will have a high level of stability and consistency. The opening-up measures will help foster an enabling environment that is market-oriented, law-based and aligned with internationally-accepted practice for global investors. China and the UK should enhance cooperation and work for the sound and steady development of the China-UK relationship. Healthcare, green growth, digital economy, financial services and innovation are potential areas where cooperation should be expanded. He suggested that the two governments should work together to, expand cooperation for mutual benefit in key areas, including green development, and uphold the safety and reliability of the global industrial and supply chains. He hoped that CCCUK can continue serving as the bridge linking Chinese and British partners to provide supports for Chinese companies’ development in the UK.

Lord Grimstone, Minister for Investment, DIT and BEIS, delivered a keynote speech

Lord Grimstone, Minister for Investment of DIT and BEIS, congratulated the launch of this year’s report. He emphasised that the UK will maintain and strengthening its open, fair and transparent business environment so as to ensure the UK retained its status as a leading global destination for foreign investors. He reassured that the government followed the principles of proportionality, transparency, and of course, the rule of law when in designing the National Security and Investment Act. The legislation will provide oversea investors with stability, predictability, and transparency. He also highlighted the huge potential for business cooperation in green transition. Chinese investments could play a major part from offshore wind and energy storage to electric vehicles, to batteries, and to green finance.  He saw this as a real opportunity to build a strong green industrial partnership between two countries.

Dr. MA Jun, Chairman of China Green Finance Committee and Director of the Beijing Institute of Finance and Sustainability, delivered a keynote speech

Dr. MA Jun, Chairman of China Green Finance Committeeand Director of the Beijing Institute of Finance and Sustainability, gave detailed introduction to the development of China’s green finance and the achievements of China-UK green finance cooperation in his keynote speech, He also put forward three suggestions for the next step of cooperation between the two countries in this field: First, promote the cross-boarder flow in green investment. UK has comparative advantage of lower cost of funds, which can be attracted by China to boost investments in green industries such as electric vehicle. Second, learn the best practices from UK in the area of environmental disclosure, and stress testing for climate risks; Finally, join hands in helping emerging countries in Africa, Latin America and ASEAN countries to build their green finance and sustainability taxonomies and regulations through investing and issuing in those markets.

Mr. FANG Wenjian, Chairman of the CCCUK and General Manager of Bank of China London Branch, made a welcome speech

Mr. FANG Wenjian, Chairman of the CCCUK and General Manager of Bank of China London Branch, highlighted Chinese enterprises’ the commitments, capabilities and contributions to green development in his speech. He stated that despite many challenges, the long-term trade and investment ties between China and the UK remained robust, and climate change and green and innovative development were the new priorities for China-UK cooperation. Chinese firms in the UK are responding positively and proactively to the net-zero agenda and prioritising green development in their business strategies. They have already become one of the driving forces in the UK’s green, low carbon and environmentally friendly projects, making tangible contributions to the UK’s net-zero strategy. Chinese businesses will continue to leverage their advanced technologies, products, experiences, talents and capital to help accelerate the Net-Zero transition in the UK.

Panel 1: How can the UK and China collaborate on climate change to create new opportunities in green and low carbon investment

Panel 2: How can we shape energy transition strategies and harness support from the financial sector

The two panels of the Forum focused on the following topics: “How can the UK and China collaborate on climate change to create new opportunities in green and low carbon investment”and “How can we shape energy transition strategies and harness support from the financial sector”.The Forum aimed to explore new ideas for green investment and new opportunities for practical cooperation between China and the UK. Participants unanimously pointed out the importance of financial sector in promoting green transformation and upgrading.

 

The Launch of ‘2021 Report on the Development of Chinese Enterprises in the UK’ A Broad Prospect for the Chinese Enterprises in the UK

 

On the day of the Forum, the CCCUK held the Launch Ceremony of ‘2021 Report on the Development of Chinese Enterprises in the UK’. H.E. ZHENG Zeguang, Chinese Ambassador to the UK, Lord Gerry Grimstone, Minister for Investment, DIT and BEIS, Dr. MA Jun, Chairman of China Green Finance Committee and Director of the Beijing Institute of Finance and Sustainability, FANG Wenjian, Chairman of the China Chamber of Commerce in the UK and General Manager of Bank of China London Branch, and John Edwards, HM Trade Commissioner for China, witnessed the launch of the report together with guests present.

In the open dialogue session, John Edwards and FANG Wenjian both shared their thoughts about the highlights of the report. They also exchanged ideas on how to achieve deeper understanding for climate change and their prospection of the future of UK-China relationship.

Guests witnessed the launch of “2021 Report on the Development of Chinese Enterprises in the UK”

John Edwards, HM Trade Commissioner for China, said that he was delighted to see the positive sentiment of Chinese companies investing in the UK as shown in the report and emphasized thatthe UK regulatory environment is non-discriminatory to global investors.He believes that China and the UK have complementary needs and enormous opportunities for cooperation in terms of green technology cooperation and industrial chain investment.There is also great potential for research collaboration in new technologies such as hydrogen and floating offshore wind.Despite the differences in some political issues, the two countries have shown a strong willingness to deepen economic and trade exchanges.The future of economic and trade cooperation between China and the UK is promising.

Mr. FANG Wenjian, Chairman of the China Chamber of Commerce in the UK and General Manager of Bank of China London Branch, stressed that the two countries should strengthen communication at the government, business association and individual business level on a holistic basis. The two countries should continue to build direct channels of communication and cooperation mechanism, promote themutual understanding in green development, and explore cooperation opportunities. He stated that the UK-China economic connection has become too strong and inter-wined to break.China’s continuous reform and opening up, and its economic growth provides important opportunities for UK-China business cooperation.

Primary Vision of the 4^thChina-UK Economic and Trade Forum

The event was jointly supported by the City of London, the China-Britain Business Council, the 48 Group Club, the British Chamber of Commerce in China, the Confederation of British Industry, the Great Britain China Centre and the Institute of Directors. Green development will be a new feature and key area of China-UK cooperation in the future. With the common goal of large-scale emission reduction, the two countries will have broad areas for cooperation, including green development, low-carbon economy and joint response to the challenge of climate change. Political, business leaders and academics from both countries believe it is of great significance to hold the 4^thChina-UK Economic and Trade Forum.

 

 

Event website: www.cccuk.co.uk (you can re-view the event video here), or

Watch from Youtube: https://youtu.be/vUJ9sKrCvKg