On 23 June, Chinese Ambassador to the UK Zheng Zeguang attended and delivered a speech at "Partnership for a Prosperous Future" - China-Scotland Cooperation Forum organized by China Chamber of Commerce in the UK (CCCUK) and China–Britain Business Council (CBBC) in Edinburgh. The forum was hosted by Fang Wenjian, Chairman of CCCUK, and Sir Sherard Cowper-Coles, Chair of CBBC. Graeme White, Global Head of Inward Investment, Strategy and New Investment at Scottish Development International, delivered a speech and representatives of Chinese and British enterprises spoke at the event.
In his speech, Ambassador Zheng said the world today is entering a new period of turbulence as a result of the profound changes and worst pandemic in a hundred years. Economic globalisation has encountered setbacks, risks of stagflation are rising in some countries and global recovery remains sluggish. In face of this, how should the business community respond? As President Xi Jinping pointed out in his important speech at the BRICS Business Forum, the business community of all countries should work together to maintain world peace and stability, promote sustainable global development, achieve win-win cooperation and expand openness and integration.
Ambassador Zheng talked about how China coordinated its pandemic response with economic and social policies effectively and brought the recurrent outbreaks of Covid in some Chinese cities and regions since March under control. The impact on the economy is short-term and not inherent. The fundamentals remain unchanged, namely China's economy is steadily growing and the long-term prospect is positive. What also remain unchanged are China's transformation, upgrading and high-quality development and its commitment to high-level opening up. The Chinese Government has released 33 measures covering 6 areas to keep the fundamentals of the economy stable, bring the economy back on track and ensure that it operates within a reasonable range. China is a reliable and sustainable cooperation partner with stable policies, a big market and a readiness to share.
Over the past 50 years since the establishment of China-UK ambassadorial diplomatic relations, the two countries have seen fruitful cooperation in economy and trade, said Ambassador Zheng. The Scottish economy is unique and resources are abundant. China and Scotland enjoy enormous scope for cooperation in trade and economy, education, culture, green energy, infrastructure, agriculture and creative industries. Over the past two years, cooperation between the two sides has continued to grow, fully demonstrating its strong resilience.
The business communities of both China and the UK should strengthen dialogue and expand mutually beneficial cooperation to push for growth, improve people's livelihood and help achieve sustainable development goals, said Ambassador Zheng who urged the companies present at the Forum to first of all seize opportunities and strengthen confidence in a better future, so as to create more trade opportunities and broader space for investment. Secondly, they should explore new frontiers and create new outcomes of economic cooperation. Both sides should continue to deepen cooperation in existing areas and projects, while at the same time, expand cooperation in health care, digital economy, e-commerce and smart cities, and strengthen partnerships on the Belt and Road Initiative. Scottish companies are welcome to expand their investment and cooperation in China and take part in the fifth CIIE. Thirdly, they should focus on green and low-carbon development, build on existing partnerships in areas of wind power and electric vehicles and strengthen cooperation in low-carbon technologies, energy storage, new energy, climate investment and financing and green finance. Fourthly, they should play an active part in the exchanges and cooperation between sister provinces and cities as well as educational institutions with a view to promoting the practical city-to-city cooperation and collaboration between universities in education and research. Fifth, they should support joint cultural, art and tourist programmes, expand mutual visits and promote a comprehensive relationship between China and Scotland.
Sir Sherard Cowper-Coles said that Scottish exports to China have been growing rapidly, from £113 million in 1996 to £1 billion today, an increase of 1,000 per cent. Cooperation between Scotland and China is increasingly close and with a bright future in many areas including education, culture and tourism. Chairman Fang said that in recent years, Chinese enterprises have expanded their investment in Scotland from traditional areas to broader and more diversified areas, actively undertaken corporate social responsibility and made an increasingly significant contribution to the Scottish economy, especially low-carbon development. Mr. White said that China-Scotland trade keeps on growing and China has become an important export market for Scotland. Scotland is rich in new energy resources and opportunities. He hoped that more Chinese enterprises, students and tourists will come to Scotland for investment, studies and sightseeing. The Scottish Development International has opened five offices in China and will continue to serve both sides in carrying out exchanges and cooperation.
