-British economic and trade cooperation is expected to a new level

International financial crisis, the United Kingdom economy has been seriously impact the swingeing cuts in foreign trade, United Kingdom-British bilateral trade are also affected by a certain influence. Economic and trade cooperation between China and Britain's current situation and prospects of how the new Government took office, United Kingdom-British trade will be the impact, the Chinese Ambassador to the United Kingdom Embassy economic trade mission week Bob public participation in a recent collective in British media said that bilateral trade has been restored to pre-crisis levels, United Kingdom a new coalition Government came to power after the "developing closer relations with China," said we must continue to pay attention to the development of the China economic and trade cooperation, I believe that future bilateral trade cooperation is expected to a new level.

Trade contacts out of crisis

In recent years, the comprehensive strategic partnership in the background, achievements and British trade and economic development, the United Kingdom has become China's within the EU's third largest trading partner (after Germany, the Netherlands), China is the United Kingdom in the EU's second largest trading partner (second only to the United States). According to Chinese statistics, the international financial crisis, bilateral trade last year, the British total 391.5 billion, an decrease 14.2%: exports 312.8 billion, an decrease 13.3%; import 78.8 billion, an decrease 17.4%. But according to the British statistics, 2009 United Kingdom on the other major market will appear significantly lower, exports to China have increased 5.3%, machinery, motor vehicles and parts, medical products as the main point of growth; growth in imports from China 4%, United Kingdom 15 large import market prior to the first place.

Week Bob said that since the beginning of this year, the rapid growth in bilateral trade, has been restored to pre-crisis levels, basic went out of the crisis. According to Chinese statistics, January 2010 to April, and the British goods trade 138.1 billion, an increase of 29.8%; the first four monthly trade volume has more than 30 million, 4-month $ 36.3 billion, more than the 2008 average monthly 35.7 billion level. In addition, the United Kingdom has been instrumental in maintaining the EU the largest investor in China, the status of the end of 2009, the United Kingdom cumulative actual 163.7 billion investment in China; at the same time, the United Kingdom also within the EU is China's second largest investment destination (after Germany), as at the end of 2009, China United Kingdom non-financial investment 6.2 billion. In recent years, major bilateral investment and acquisition projects are emerging, of which shell Nanhai petrochemical project total investment of 40 billion dollars, is China's largest joint venture projects. China's Shanghai, Nanjing Automobile Group merging United Kingdom Rover car company, also become China's automobile enterprises "going out" of the typical case.

Services trade cooperation in order to play

In recent years, both economic and trade cooperation renders some new features. According to Zhou Xiao ming, trade in services and trade relations between the United Kingdom has a pivotal position. In view of the United Kingdom is second only to the United States's second-largest country in the service trade in financial services a clear competitive advantage, the United Kingdom are the EU countries with Chinese banks than any other country, Bank of China, industrial and commercial bank of China, construction Bank, 3 Bank in the UK has established a branch or child rows, 3 Bank offices. At the same time, the United Kingdom's financial industry is also very optimistic about the tremendous potential of the Chinese market, there have been seven British Bank, five British insurance companies set up business in China. Education has always been a United Kingdom important service export sectors, now in the British students around 10 million people, per person per year education expenditures 2.5 million conservative estimates that every year, Chinese students in the UK education expenditures of at least 25 million pounds. In tourism services, this year with the British pound depreciated, United Kingdom attracted including China, to a large number of tourists. Early in June, China UnionPay century shop/time honored store in the United Kingdom, Sergio foric (Selfridges) stores organized UnionPay card opening ceremony, also indirectly reflect Chinese tourists in the purchasing power of the United Kingdom.

United Kingdom has become the Chinese enterprises to open up Europe's window. Currently, Bank, insurance, trade, transport, telecommunications, media, tourism and automotive manufacturing and other six areas of Chinese enterprises are in the UK, many European headquarters was established. United Kingdom is the world financial center and the world's largest foreign exchange, gold, derivative and non-precious metal trading market, has become China's Enterprise ideal place to invest and develop the European market's "pivot". And low-carbon and sustainable development of urban cooperation will become the new growth point. 2009 Premier Wen's visit to Britain, the two countries signed the "urban development in China's regional trade and investment cooperation memorandum, the two countries will continue to deepen cooperation on sustainable urban and regional cities, and new energy technologies in the field of cooperation. At present, the British sustainable urban cooperation progress smoothly, Wuhan, Chongqing, Changsha became British sustainable urban cooperation of three cities.

Economic and trade cooperation is expected to further

At present, the British goods trade only Chinese goods trade 1.8% and the United Kingdom's total trade in goods, and the British service 5.5 per trade amount only United Kingdom service 1.3% of total trade. Week Bob believes that British leaders attaches great importance to the development of bilateral economic and trade relations, exchanges between the two countries remain good momentum, from an existing base and long-term development, economic and trade cooperation between China and Britain is still great potential for development and a broad space for development. First of all, the scale of bilateral trade is expected to a new level. In 2008, the UK Prime Minister to establish the 2010 bilateral trade in goods and services, the goal of $ 60 billion. From the year-UK bilateral trade growth momentum, as long as the two economies to maintain steady growth, pound sterling and the Renminbi exchange rate remained stable, complete this goal are not possible.

Second, the United Kingdom to China investment focus gradually shifted to the area of services. Since 2008, the United Kingdom, such as sugar, BP oil companies manufacturing investment remained stable, while the United Kingdom HSBC, Standard Chartered, standard life, Sun Alliance Insurance in China in the field of investment services is increasing. Britain's biggest retailer, easy-to-buy (TESCO) recently announced that the next five years for investment of 20 million expansion in China and a giant supermarket shopping. The next 10 years, China will continue to optimize the utilization of foreign capital structure, actively expanding market access, strengthening intellectual property protection to accelerate the development of business services,

Information software design, development, public services, environmental protection and construction industries, the British SMEs in these areas has the experience and competitive advantage.

Third, the British technology trade potential will be gradually released. United Kingdom in information technology, bio-science, renewable energy, low carbon environment, high-end manufacturing industry and other fields have technical superiority, China wants from the United Kingdom increased imports and domestic skills, equipment and products, and low-carbon economy, trade in services and creative industries to strengthen cooperation in the areas. The next 10 years with the British and the comprehensive further development of strategic partnerships, European and American progressive liberalization of China high technology export controls, and the British technology trade potential inevitably released.

In addition, bilateral tourism and education cooperation will help to push economic and trade cooperation between China and Britain. According to the United Kingdom National Bureau forecasts to 2014 visit to Britain of Chinese tourists will more than double in 2008, reaching 13 million people, constituting United Kingdom tourism market 0.8%.