UK-China business leaders convey confidence in business tie

Chinese Ambassador to the UK Zheng Zeguang speaks at the 3rd United Kingdom (UK)-China Business Leaders Summit in London, Britain, on May 28, 2024. Business leaders and government officials attending the ongoing 3rd United Kingdom (UK)-China Business Leaders Summit here conveyed confidence in the prospect of trade, investment and bilateral ties of the two countries. (Photo by Stephen Chung/Xinhua)

LONDON, May 28 (Xinhua) -- Business leaders and government officials attending the ongoing 3rd United Kingdom (UK)-China Business Leaders Summit here conveyed confidence in the prospect of trade, investment and bilateral ties of the two countries.

"Business is the glue between people. If we have more business, we will have more understanding, more relationships, and better opportunities," said Stephen Perry, president emeritus of Britain's 48 Group Club, at a meeting here on Tuesday.

Chinese Ambassador to the UK Zheng Zeguang said China's manufacturing capacity meets global demand for green energy products, helping other countries combat inflation, accelerate the transition to green energy, and address the challenges posed by climate change.

"China does not have excess production capacity, nor does it export excess capacity," said Zheng.

Chen Xu, vice president of the China Overseas Friendship Association, said the Chinese government will continue to improve the mechanism for protecting the rights and interests of foreign investors, further shorten the negative list for foreign investment, and relax market access restrictions in sectors such as telecommunications and healthcare services.

Fang Wenjian, chairman of the China Chamber of Commerce in the UK, said surveys of Chinese enterprises in the UK highlight a wealth of opportunities in sectors such as renewable energy, finance, technology, and education. On the flip side, the UK also seeks collaborative partners to advance zero-carbon ambitions, enhance the digital economy, and boost high-end manufacturers.

"We welcome Chinese life sciences companies to the UK and work together in setting common and shared standards," said David Willetts, member of the House of Lords and former Minister of State for Universities and Science.

The summit, from May 27 to 29, was attended by over 400 business leaders from the UK and China.

From now on, the summit will become an annual event, alternatingly held in the UK and China, announced Zhang Jinlong, chairman of the UK Chinese Business Association.

Zhang Jinlong, chairman of the UK Chinese Business Association, speaks at the 3rd United Kingdom (UK)-China Business Leaders Summit in London, Britain, on May 28, 2024. Business leaders and government officials attending the ongoing 3rd United Kingdom (UK)-China Business Leaders Summit here conveyed confidence in the prospect of trade, investment and bilateral ties of the two countries. (Photo by Stephen Chung/Xinhua)

David Willetts, member of the House of Lords and former Minister of State for Universities and Science, speaks at the 3rd United Kingdom (UK)-China Business Leaders Summit in London, Britain, on May 28, 2024. Business leaders and government officials attending the ongoing 3rd United Kingdom (UK)-China Business Leaders Summit here conveyed confidence in the prospect of trade, investment and bilateral ties of the two countries. (Photo by Stephen Chung/Xinhua)

Stephen Perry, president emeritus of Britain's 48 Group Club, speaks at the 3rd United Kingdom (UK)-China Business Leaders Summit in London, Britain, on May 28, 2024. Business leaders and government officials attending the ongoing 3rd United Kingdom (UK)-China Business Leaders Summit here conveyed confidence in the prospect of trade, investment and bilateral ties of the two countries. (Photo by Stephen Chung/Xinhua)