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British companies remain confident of Chinese economy: trade body chief

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      British companies remain confident of Chinese economy: trade body chief

      2024-10-26 22:31 Last Updated At:23:07

      British businesses are maintaining their long-term optimism and commitment to China based on seasoned judgment on the market's development, said Peter Burnett, the Chief Executive Officer of the China-Britain Business Council.

      Burnett, head of the UK's national business network promoting trade and investment with China, said that UK Foreign Secretary David Lammy's visit to China last week has helped restore business confidence that had been lacking due to limited government-to-government dialog.

      "This visit is one that has been much anticipated for quite a few weeks, months, indeed years, although there's been a change of government of course in the United Kingdom," he said.

      Burnett noted that businesses are resilient and self-sufficient, with a strong understanding of their markets and customers. And not a single member of the CBBC decided to pull out, Burnett stressed, highlighting a general optimistic outlook on the Chinese economy.

      "CBBC members, they know the markets, they understand their customers, they are all very good at business strategy. And that has never really changed in China. But the missing piece for the last few years has been this government-to-government engagement, that G-to-G dialogue is really, really important because it restores that level of confidence. You need to have confidence, if you're an exporting or an investing business, you need to have confidence in both markets, and that confidence has really returned in the last -- not completely, but it is returning, I would say -- in the course of the last three months or so," Burnett said.

      "Fundamentally, businesses will look after themselves, they know the markets, they know their customers. As I have spoken to CBBC membership, I have never, I have not heard any of them say 'we don't, we don't have confidence in the future of China's economy.' And I haven't heard one of them say 'we're thinking of pulling out'," Burnett said.

      China's fiscal authorities have applied a range of policies this year aimed at expanding effective domestic demand. Regarding this, Burnett said that British companies are encouraged by such measures.

      "We've seen interest rates cuts, we have seen support for the stock market, for banks, for real estate, for local government financing vehicles, to address some of these deflationary concerns and basically to bring confidence back into the consumer market, into the consumption market, the real estate market, the stock exchange market, and the investment market. We're encouraged certainly by these measures. The members of CBBC really don't have a problem with the long term trajectory of Chinese economy," he said.

      British companies remain confident of Chinese economy: trade body chief

      British companies remain confident of Chinese economy: trade body chief

      Next Article

      China reaffirms commitment to international cooperation in human rights

      2025-02-25 04:07 Last Updated At:09:07

      Chinese Foreign Minister Wang Yi delivered a video address at the high-level meeting of the 58th session of the United Nations Human Rights Council in Geneva, Switzerland on Monday, emphasizing China's willingness to work with all countries to uphold the correct view of human rights and push for the reform and improvement of global human rights governance.

      In a speech titled "Pushing for the Reform and Improvement of Global Human Rights Governance to Uphold the Right Approach to Human Rights", Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that 80 years ago, the United Nations was born amidst the hope of people around the world to beat swords into ploughshares, marking an important milestone in the cause of human progress.

      Eighty years on, global transformation unseen in a century is accelerating. Responding to this, Chinese President Xi Jinping has made a call for the building of a community with a shared future for mankind, and put forward the Global Development Initiative, Global Security Initiative and Global Civilization Initiative, proposing China’s solution for the world, said Wang.

      Wang said that China is willing to work with all countries to keep to the right approach to human rights and push for the reform and improvement of global human rights governance by staying committed to the original aspiration and founding mission, upholding fairness and justice, and adhering to engagement and mutual learning.

      Wang stressed that the modernization China is pursuing is not exclusive, but one of peaceful development, mutually beneficial cooperation and common prosperity for all countries. China is committed to the future and well-being of humanity and all nations. It will promote international cooperation and civilizational exchange and be a builder of a community with a shared future for humankind, while more actively engaging in international human rights cooperation to create a brighter future for human rights worldwide, Wang added.

      China reaffirms commitment to international cooperation in human rights

      China reaffirms commitment to international cooperation in human rights

      China reaffirms commitment to international cooperation in human rights

      China reaffirms commitment to international cooperation in human rights

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