This report seeks to examine the impact of UK investment by mapping trade and investment flows into China and will provide useful insights to British and Chinese businesses and policymakers alike.
In this, the first edition of our Sterling Assets: China report, the CbI is pleased to show that the United Kingdom remains China’s second largest trading partner in the EU and the 8th largest worldwide. To date British business accounts for billions of pounds of foreign direct investment and creates thousands of Chinese jobs. And in turn China’s top 30 UK inward investors have a combined turnover of more than £9.8bn and have created more than 20,000 jobs in Britain to date. For example, the Chinese Telecoms and ICT giant Huawei has committed £1.3bn in procurement and direct investment to the UK since 2012, contributed close to £1bn to UK GDP (2012-14) and as a result created more than 1100 jobs for Britain. UK investment can be found in more than 70% of China’s provinces and administrative regions with greenfield project investment exceeding £2.25 billion in 2015-2016. And since 2015 British investment has begun to move inland, away from China’s coastal areas to China’s vast central, western and northeastern regions. These positive trends underpin and support China’s economic objectives as it continues to develop its domestic market and move to a service-oriented economy. The UK is well placed to assist these ambitious policies and additionally is ready to support China’s belt & road Initiative (brI) as it builds overland and maritime trading corridors to serve the economies of tomorrow.
Read the whole report here: cbi-china-sterling-assets-report-1