Amidst discussions of “de-risking” relations with China in the West, business leaders in Northern England are rallying for closer ties and stronger trade links with the Asian giant. Optimism resonated at the China-Northern England Cooperation Forum, held in Leeds on July 17, where representatives from about 50 companies across various sectors in Yorkshire gathered to explore the theme of “Partnership for a Prosperous Future.” The forum, organized by the China-Britain Business Council (CBBC) and the China Chamber of Commerce in the UK, saw China’s ambassador to the United Kingdom, Zheng Zeguang, deliver a keynote speech, emphasizing the need for deeper cooperation between China and the UK.
Trade Flourishes, Paving the Way for Economic Growth
Despite global economic challenges, business leaders express optimism for growth. According to the UK Department for Business and Trade, trade in goods and services between China and Britain witnessed an impressive surge of 18.3% to reach £111 billion ($143.3 billion) last year. China’s ambassador, Zheng Zeguang, lauds the significance of these trade ties, highlighting that exports to China will spur growth in the UK, while Chinese investments will create jobs and generate tax revenues.
Forging Partnerships: A Winning Strategy for Success in China
Building strategic partnerships proves essential for businesses in China.Keith Jackson, CEO of Brandon Medical, shares his company’s success story, emphasizing the importance of forming a strong strategic partnership with a Chinese company in Beijing. The collaboration has enabled them to navigate regulatory approvals effectively, and they anticipate China to become their largest international market due to its aging population and vast middle-income group. Similarly, John Gyngell, co-founder of North Brewing, recounts their flourishing partnership with Chinese distributors since attending an expo in Shanghai in 2015, which transformed China into their top export destination.
Chinese Companies Thriving in Northern England
Chinese companies find Northern England an attractive hub for expansion.Fang Wenjian, chairman of the China Chamber of Commerce in the UK, notes the remarkable growth of Chinese companies in the past two decades, with over 10,000 now registered in the UK. Among those with operations outside London, 44% have chosen the Yorkshire and Humber area as their base, signaling the region’s increasing appeal to Chinese firms. Hong Kong Stock Exchange-listed Minth Group’s successful UK branch in Sunderland, Midea’s sponsorship of Manchester City soccer team before establishing their UK headquarters, and the dedication of Grant Thornton UK LLP in supporting Chinese companies’ growth exemplify the flourishing relationships and mutual benefits between Chinese businesses and the local community.
The China-Northern England Cooperation Forum in Leeds showcased the unwavering commitment of business leaders from both regions to strengthen trade links and establish long-term partnerships. Despite economic uncertainties, the growing appeal of Northern England for Chinese companies, coupled with the determination of British businesses to expand in China, bodes well for future collaborations. As the world economy navigates challenges, these strategic partnerships are seen as a beacon of hope, fostering economic growth, job creation, and mutual understanding between the UK and China.
