Rachel Reeves has called for a "pragmatic" relationship with China, the UK's fifth-largest trading partner. CGTN’s Li Jianhua meets some of the people aiming to make that relationship work.
Read more: https://tinyurl.com/4vx8tmya
#UKChinaRelations #GlobalEconomy #RachelReeves
Read more: https://tinyurl.com/4vx8tmya
#UKChinaRelations #GlobalEconomy #RachelReeves
Category
🗞
NewsTranscript
00:00At this British factory, nature is packed into every capsule.
00:05Mushroom powder, carefully measured, is filled into capsules and sealed for export.
00:11They're ready to be shipped to one of the world's most vibrant markets, China.
00:17For Grass & Co., China is their first international export market,
00:21and the country's wellness market booms.
00:23By leveraging China's huge appetite for e-commerce,
00:27the company aims to double its sales.
00:30I think one of the things that's unique from a business perspective about the Chinese market
00:34is the sophistication of the e-commerce space in China.
00:39In an era where there may be tariffs introduced with America,
00:43we would like business to be able to happen in a straightforward way with China.
00:48At the moment, that's the case, and we can sell very easily using cross-border e-commerce.
00:54The UK-China Business Council estimates over 9,000 British businesses are operating in China.
01:00A recent survey said 58% of British businesses reported
01:05they found it more challenging to operate in China in 2024.
01:10Regardless, 76% are maintaining or increasing their investment in China.
01:15Some experts say it's time for UK-China business ties to move on from past disagreements.
01:22UK companies want to do business in China, as I think Chinese companies want to do business in the UK.
01:28But we also need to be making the case that growth in trade is good for the Chinese economy,
01:35it is good for the UK economy.
01:37And in recent years, we just haven't seen that happening.
01:40What we've perhaps let happen in the last few years
01:44is that we've allowed those differences or those areas where we don't want to see so much foreign investment,
01:50we've allowed that to dominate the whole relationship, and I don't think that's right.
01:54Rachel Reeves said she is seeking a pragmatic relationship with China, the UK's fifth largest trading partner.
02:02Since the Labour government took office in July last year, the UK and China have been reassessing their bilateral ties.
02:09The two countries' presidents met in Brazil at the G20 in November last year,
02:14while other high-level officials have visited Beijing.
02:17Now, businesses on both sides are watching to see if Rachel Reeves' visit this time will translate to smoother trade relations.
02:26Li Jianhua, CGTN, London.