Representatives from business associations and enterprises in the United Kingdom (UK) expressed optimism regarding trading and collaboration opportunities in Shanghai during an event held on Tuesday to promote investment in the thriving Chinese economic hub.
Andrew Seaton, the Chief Executive of the China-Britain Business Council (CBBC), highlighted the event as an excellent opportunity for businesses to reintroduce China, particularly Shanghai, as a significant destination for trade and investment. Seaton emphasized the strong commitment of British companies to the Chinese market, their presence, and investments in China.
At the event, Invest Shanghai, a government platform dedicated to facilitating foreign investment in Shanghai, and the CBBC signed a memorandum of cooperation, signifying their mutual intent to collaborate. Additionally, the Jiading District government of Shanghai and Johnson Matthey (Shanghai) Chemicals Ltd. signed an agreement expressing their investment intentions.
Delegates from Shanghai delivered presentations to showcase the city’s remarkable development and favorable business environment. Xie Dong, the Vice Mayor of Shanghai, highlighted Shanghai’s role as a gateway for exchanges between China and the UK. He emphasized that Shanghai serves as an entry point for British companies to enter the Chinese market and as a bridge for Chinese enterprises to explore opportunities in the UK. Xie also noted that the UK’s cumulative investment in Shanghai had exceeded 3.8 billion U.S. dollars by the end of 2022, while Shanghai-based enterprises had invested more than 4.7 billion U.S. dollars in the UK.
Neil Bridgen from London & Partners, the Mayor of London’s official promotional company responsible for international promotion, emphasized the potential for collaboration between Shanghai and London. He mentioned that the two cities could drive innovation, accelerate business growth, and foster cultural exchanges through their partnership.
The event served as part of an overseas promotion campaign aimed at highlighting investment opportunities in Shanghai.
