On January 19, Ambassador Zheng Zeguang attended the CCCUK Annual Online Conference & Celebration of the 20th Anniversary of CCCUK, and delivered a Keynote Speech entitled Grasp the Megatrends and Strive Forward in Cooperation. Chairman of China Chamber of Commerce in the UK (CCCUK) Fang Wenjian, Chairman of the 48 Group Club Stephen Perry and Chair of China-Britain Business Council (CBBC) Sir Sherard Cowper-Coles attended the event and made remarks. More than 200 business leaders representing CCCUK members and British enterprises also attended the event.
The transcript of Ambassador Zheng's keynote speech is as follows:
Grasp the Megatrends and Strive Forward in Cooperation
Speech by Ambassador Zheng Zeguang at the
CCCUK Annual Online Conference &
Celebration of the 20th Anniversary of CCCUK
19 January 2022
Chairman Fang Wenjian,
Mr Stephen Perry,
Sir Sherard,
CCCUK Members and Partners,
Ladies and Gentlemen:
Good afternoon!
It is a real delight to join friends from the Chinese and British business communities at this online event to celebrate 20 years of achievements of the CCCUK and look forward to the future of China-UK economic cooperation.
CCCUK has been growing bigger and stronger over the past 20 years, with the number of corporate members increasing from a little over 20 to nearly 300. It is now an influential business association.
Over the years, CCCUK has worked actively to promote Chinese investment in the UK, provide services to Chinese companies, help them find local partners, and support British companies in their exploration of the Chinese market. It has become really a “home of its member companies”.
Together with its partners, including the China-Britain Business Council and the 48 Group Club, CCCUK has made positive contribution to the mutually-beneficial economic cooperation between our two countries.
On behalf of the Chinese Embassy in the UK, I would like to extend our warmest congratulations on the 20th anniversary of CCCUK! Our sincere thanks go to CCCUK, CBBC and the 48 Group Club, who have played a positive role in promoting the development of the economic partnership between China and the UK!
Ladies and Gentlemen:
In the past year, China made new achievements in high-quality development. We have managed to coordinate, in a scientific way, our measures to prevent and control the pandemic with our efforts to promote economic and social development. The results are remarkable.
We effectively prevented the rebound and spread of Covid-19 variants. The infection rate and fatality rate in China were among the lowest in the world. The life and health of over 1.4 billion Chinese people were well protected.
After taking the lead in resuming economic activities, China maintained the momentum of steady economic recovery. Its GDP for 2021 exceeded 110 trillion RMB yuan, which is an increase of 8.1% from the level of 2020 and an average of 5.1% for the past two years. The increment itself in 2021 alone is 3 trillion US dollars, about the size of the world’s sixth largest economy. Per capita GDP reached 12.5 thousand US dollars, exceeding the world average for the first time.
Also for the first time, China’s annual import and export exceeded 6 trillion US dollars, and paid-in FDI totaled 170 billion US dollars, hitting a new record. In the meanwhile, over 12 million new jobs were created, and CPI remained very low, increasing by 0.9% year-on-year.
On the whole, China led the world in economic recovery and pandemic response, with fast growing strategic scientific and technological strength, more resilient industrial chains, effective safeguards for people’s wellbeing and continued progress in ecological conservation.
2021 also witnessed new headway in China-UK economic cooperation, despite the impact of the pandemic.
China’s import from the UK and export to the UK increased by 29% and 22% respectively. For six quarters in a row, China has been the largest source of imported goods into the UK. The two-way trade in goods for the year exceeded 100 billion US dollars for the first time.
Chinese products are good value for money and play an important role in supporting UK’s pandemic response, meeting consumer demand and mitigating the price rise here in the UK. Famous brands from the UK meet the diverse needs of the huge consumer market in China and are consumer favorites.
By November 2021, China-UK two-way FDI stock reached 47.4 billion US dollars, which registered an increase of nearly 5 billion US dollars compared with the level before the outbreak of Covid-19. The central banks of our two countries signed an agreement to renew the existing currency swap line for a further five years, with the total value standing at 350 billion yuan, or 40 billion pounds.
Ninety-three major British companies took part in the fourth China International Import Expo, signing intended deals worth more than 1.5 billion US dollars.
The above figures fully show that the China-UK economic relationship is in nature mutually needed and mutually beneficial.
Ladies and Gentlemen:
At the moment, the world economic recovery still faces many uncertainties. Covid-19 is yet to disappear, the global industrial and supply chains are under strain and inflationary pressure is rising in the US and other countries. Against this background, what should we do to promote China-UK economic cooperation? What is the role of the business communities from both countries? I would like to share with you my three observations: first, grasp the major trend of development; second, stay confident in cooperation; third, keep the channel for dialogue open.
The Megatrends of China’s Development
To have a correct understanding of China’s development, one should grasp the following features:
First, China has a strong political leadership, which ensures a high level of stability and consistency in its major policies and plans. Under the leadership of the CPC Central Committee with President Xi Jinping at its core, China is striving forward towards the second centenary goal, that is, building a great modern socialist country in a comprehensive way.
Second, China remains committed to promoting high-quality development. Despite the pressure from changes in the international and domestic economic environment, the fundamentals of China’s economy remain unchanged: China’s economy continues to be highly resilient, has huge potential for further growth and shows a momentum of long-term development.
We will continue to implement the new development concept by building a new development paradigm so as to improve the quality of comprehensive development. We will narrow the gap between regions, between the urban and rural areas, and between different income groups, and take concrete measures to promote common prosperity. This is a much larger-scale and more effective “levelling-up”.
Third, China remains committed to opening its market at a high level. We will expand institutional opening up in terms of rules, management and standards, implement national treatment for foreign companies, promote high-quality development of the cooperation on the Belt and Road Initiative, and further integrate with regional and world economy.
Fourth, China remains committed to promoting green and low-carbon development. We will follow up on our pledges and work towards achieving the goals of carbon peaking and carbon neutrality. We will also actively carry out international cooperation in areas of green and low-carbon transition, bio-diversity preservation and climate response.
All in all, China’s steady and sustainable development will create more opportunities for cooperation with countries of the world, including the UK.
Strive Forward in Cooperation
In the 1950s, in the height of the Cold War, Mr Jack Perry and the first generation of “icebreakers” broke through Western blockade against New China to start the trade and economic partnership between China and the UK. Since then, this partnership has kept growing and strengthening.
The reason for the phenomenal growth of this partnership is not because one side is doing the other a favour, but because the cooperation serves the interests of both peoples and is in line with the trend of history. Today, as globalisation keeps deepening, China-UK trade and economic cooperation is all the more mutually beneficial and meets the aspirations of the people of both countries.
It is my hope that the business communities of our two countries will carry forward the “icebreaking” spirit, join hands to consolidate cooperation in traditional areas of trade in goods, traditional finance, manufacturing and infrastructure, expand practical cooperation in new areas of health care, green technology, green finance, new energy vehicles, digital economy and creative industries, and explore cooperation in third markets, so as to create more highlights of cooperation. The potential for China-UK trade and economic cooperation needs to be unleashed by the “icebreakers” of the new era.
Keep the Channels for Dialogue Open
The achievements of China-UK economic cooperation are not windfall but results of hard works. They should not be taken for granted. The governments and companies of our two countries need to take good care of this partnership.
A sound political atmosphere is essential to business cooperation. The Chinese Government always welcomes foreign investment, including investment from the UK. We support closer China-UK economic partnership, and will make continued efforts to foster a market-based, law-based and open business environment. The UK government should uphold the spirit of free trade and WTO rules, and provide a fair, just and non-discriminatory environment for Chinese businesses here in this country.
On state-to-state relations, China always upholds the principle of mutual non-interference. China has never interfered in the internal affairs of any other countries, and we strongly oppose any interference in China’s internal affairs by any country or any force.
Exclusion and confrontation will lead to nowhere; openness and cooperation are the right way forward. There are elements who are fabricating rumours to discredit China, stirring up sino-phobia, and obstructing the normal exchanges and cooperation between China and the UK. These people are attempting to turn back the wheel of history and deny the common aspirations of the peoples of our two countries. We must not allow them to succeed!
Cooperation between companies also relies on the support from business associations. I hope that CCCUK, the 48 Group Club and CBBC will continue playing a positive role and build better bridges and platforms for dialogue and cooperation between the companies of our two countries.
I know we all hope to see the end of the pandemic, and an early resumption of face to face exchanges between the business communities and the peoples of our two countries. We at the Chinese Embassy in the UK will do our very best to provide facilitation and support in the communication and cooperation in this regard.
Ladies and Gentlemen:
This year marks the 50th anniversary of the establishment of diplomatic relations at the ambassadorial level between China and the UK. The achievements of our cooperation across the board in the past 50 years are remarkable, and have brought tangible benefits to the peoples of both countries. Standing at the new historical starting point, let’s join hands to promote new and greater progress in the exchanges and cooperation in all areas between our two countries, so as to bring greater benefits to our peoples and to contribute more to world peace, stability and prosperity.
In a few days, we will celebrate the Chinese New Year of the Tiger, followed by the opening of the Beijing Winter Olympics. It will be a doubly joyous occasion!
In the Chinese culture, tiger is a symbol of courage and fortitude. I would like to extend an early Chinese New Year greeting to all of you! I wish you and your family good health, success and happiness!
In the spirit of the tiger, and with fortitude, courage and confidence, let us strive forward together for a shared future!
Thank you all.
