Apple News Facebook Twitter 新浪微博 Instagram YouTube Wednesday, Mar 15, 2023
Search
Archive
English>>

UK businesses remain optimistic about China's growth despite COVID-19: CBBC report

(Xinhua)    09:31, March 14, 2020

London, March 13 (Xinhua) -- Most British businesses remain optimistic about China's growth despite a short tough period that could follow the COVID-19 outbreak, according to a recent survey by the China-Britain Business Council (CBBC).

A comprehensive survey of its members carried out by the CBBC between late February and early March found that most firms expect the Chinese economy to recover later in the year.

"This survey demonstrates that British businesses are keeping their eyes on the horizon while weathering a number of significant impacts from the COVID-19 outbreak," said CBBC Chief Executive Matthew Rous.

"China is a market which demands long term commitment and a strategic approach," he said.

The survey also shows that only 3 percent of exporters are now planning to shift their long-term focus away from China, a sign that British companies still see massive potential from China's growth.

Commenting on the prospect of China's economic growth, Cambridge University professor Alan Barrell told Xinhua last week that the Chinese industrial economy could return to a healthy state and "I remain confident about China's long-term economy to be successful."

Based on what he has seen about China in the past 30 years, Barrell said China's industrial base has developed impressively as hugely efficient and effective, well focused and well resourced.

"China has become, in the past 20 years, a technology leader and has invested very significantly in R&D (research and development). In many areas, China is already considered to be a 'tech leader'. For example space travel technology, artificial intelligence, machine learning, robotics, aspects of genetic knowledge, computer science, telecommunications," said the professor.

As Britain's leading business network promoting trade and investment with China, the CBBC has a 1,000-strong membership including some of Britain's largest and most established companies as well as innovative SMEs.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

Add your comment

Related reading

We Recommend

Most Read

Key Words