The Benefits of a Close Britain-China Trade Relationship: A Rising Tide Lifts All Boats

2023-07-23 02:07:11

[신화망 런던 7월23일]Sir Sherard Cowper-Coles, chairman of the China-Britain Business Council (CBBC), said in a recent video interview with Xinhua that both Britain and China could benefit from a close mutual investment and trade relationship. He put it in the English proverb, ‘A rising tide lifts all boats’.

This proverb fits in exquisitely with the Chinese idiom ‘Suchangseongo (水漲船高)’, which means ‘when the water rises, the boat also rises’. He said that the close linkage between Britain and China, the world’s two major economies, would benefit both countries, and that the two “big ships”, Britain and China, would float on the wave of prosperity day by day.

Not long ago, CBBC representatives, including Sir Sherard Cowper-Coles, visited Shenzhen, Shanghai, Beijing and Guangzhou for the first time since 2019. Summarizing the trip, he said, “The trip to China was really cool, and it felt like old friends were reunited.”

During his visit to China, he found that British companies in China were more optimistic about the development prospects of the Chinese market. It is most important that the people of both countries benefit from it,” he said.

In 2022, the bilateral trade volume between the UK and China reached a record high, and economic and trade relations between the two countries entered a new stage. He said that many industries in the UK have great room for development in the Chinese market. Products such as automobiles, clothing, whiskey and salmon are loved by Chinese consumers, and at the same time, the UK also imports a large amount of goods from China.

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Commenting on areas for investment between the two countries where there is potential for cooperation, he said the UK and China are focusing on net-zero emissions targets. In addition, he said that Chinese consumers’ health needs continue to grow, providing business opportunities for British companies in fields such as health and life sciences. He added that he welcomed China’s continued push for financial opening.

He emphasized that Chinese companies can actively step forward in the British market and achieve their goals, saying, “China is leading the world in technology development, especially in the field of green technology.”

Sir Sherard Cowper-Coles said he believes that the need to maintain contact between Britain and China should be emphasized in the face of headwinds, especially from across the Atlantic.

Original source: Xinhua News Agency

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