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Lord Wei leads APPG event on London/China financial co-operation

October 23, 2014

APPG EAB London China Oct2014The All-Party Parliamentary Group (APPG) for East Asia Business organised a event on the 22nd October 2014 to promote discussion on how London provides Chinese investors with business and investment opportunities.

Members of the House of Lords and the House of Commons and CEO of the London Chamber of Commerce Colin Stanbridge, Dr. Gerard Lyons, chief economic adviser to the Mayor of London, Mayor of Newham Robin Wales attended.

Lord Wei said the meeting aimed to promote Sino-British trade exchanges and this event focussed on opportunities in London.

Speakers pointed out that London is a key financial and business centre both in Europe and globally. Growth of China’s business dealings are at an early stage and the outlook is very optimistic. China can provide investment funds and equipment. There is mutual benefit for both sides.

Newham Mayor Robin Wales said, that Chinese is being vigorously promoted in local schools. Newham is optimistic about prospects for cooperation with China, so is willing to make great efforts.

In addition, speakers also stressed the importance of investment in transport infrastructure. Improved transport facilities will attract more investors to come to London.

So far, London-based education, finance and other traditional industries have attracted a large number of Chinese investors, but East Asian investors also pay more attention to other sectors, such as science and technology, architecture and cultural and creative industries.

The China Council for the Promotion of International Trade Representative, Lin Ning said in an interview that London as the capital of the country, its status and importance is obvious. However, compared with other countries, London accounted for 20% of the proportion of the national economy which is extremely high. London’s industrial diversification brings opportunities for Chinese investors.

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