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Ambassador Zheng Zeguang attends and addresses the UK Roadshow for the 2nd China International Supply Chain Expo (CISCE)
2024-05-27 17:29

On 24 May 2024, H.E. Ambassador Zheng Zeguang attended the UK Roadshow for the 2nd China International Supply Chain Expo and delivered remarks at invitation. Mr Ren Hongbin, Chairman of China Council for the Promotion of International Trade, Sir Sherard Cowper-Coles, Chairman of the China-Britain Business Council, and Mr Jack Perry, Chairman of the 48 Group Club, also attended and addressed the event. More than 150 representatives from the Chinese and British business communities participated in the event, including Mr Fang Wenjian, Chairman of the China Chamber of Commerce in the UK, Alderman Timothy Russell Hailes, City Councillor of the City of London, and Mr John McLean, Chairman of the City of London Branch of the Institute of Directors. Many companies signed contracts at the site.  

Ambassador Zheng outlined China's current economic situation in his address. He pointed out that since last summer, some people in the West have kept denigrating China’s economy. But the fact is that China's economy has accumulated more positive factors and continued its upward trend in spite of challenges. China’s GDP grew by 5.2% last year and 5.3% in the first quarter of this year. From January to April this year, China’s retail sales of consumer goods increased by 4.1%, import and export of goods went up by 5.7%, and the added value of industries above the designated size increased by 6.3%. Since the beginning of this year, the very same people in the West has been hyping the so-called “China's export of excessive capacity.” The US has also used this as an excuse to impose high tariffs on China's EVs and other products as a part of its flagrant trade protectionist actions. In fact, China's EVs and other high-tech products are competitive in their pricing not because of government subsidies, but because of China’s cutting-edge technology, the scale of the Chinese market and China's complete industrial system. The export of China's new energy products not only fills the gap in global supply and alleviates the pressure of global inflation, but also contributes significantly to global climate response and green transition. Facts have proved that the above-mentioned accusations made by Western politicians about China’s economy are not based on objective facts, but political manipulation with ulterior motives.

Ambassador Zheng pointed out that, China is pursuing the Chinese path to modernisation through high-quality development, accelerating the development of innovation-driven new quality productive forces, continuing to expand high-standard opening up, and sharing development opportunities and benefits with all parties. China will continue to shorten the negative list for foreign investment access. We have abolished all restrictions on foreign investment in the manufacturing sector, removed the restrictions on the financial industry in the negative list, and will reduce restrictions in services sectors, such as telecommunications and healthcare. The action plan issued by the State Council of China to promote high-standard opening up and attract and utilise foreign investment is being faithfully implemented. He emphasised that hosting CISCE is China's initiative as the world's second largest economy and a responsible major country, which aims to maintain the stability and smooth flows of global industrial and supply chains for global public good. He hopes British businesses will actively participate in the 2nd CISCE to be held in November this year.

Ambassador Zheng pointed out that the UK will hold its general election this year. He has no interest in making any comment on UK’s internal affairs, but he wants to be unequivocally clear in opposing the behaviour by any British politician to use China as an easy target for political benefit. People should not underestimate the judgement and common sense of the voters in any country. It is hoped that the British business community will not be distracted by obstructions or noises, stay the course of engagement and collaboration, actively explore new areas of mutually beneficial cooperation, and make due contributions to the stability and smooth flows of global industrial and supply chains.

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