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HOME > Ambassador > Remarks > 2020
Keynote speech by H.E. Ambassador Liu Xiaoming at the 2020 Online Chinese Investment Roundtable: Confidence and Cooperation Lead to New Prospects
Chinese Embassy in the UK, 29 May 2020
2020-05-30 16:40

Lord Grimstone,

Sir Sherard,

Chairman Perry,

Chairman Fang,

Members of the China Chamber of Commerce in the UK and the China-Britain Business Council:

Good morning!

It is a real delight to join you at the 2020 Online Chinese Investment Roundtable hosted by the China Chamber of Commerce in the UK and the China-Britain Business Council.

This Online Roundtable is timely and has two-fold significance:

  • First, it coincides with the successful conclusion of the “Two Sessions” (namely, the sessions of the National People’s Congress and the Chinese People’s Political Consultative Conference). This is my first public speech immediately after these important political events in China.
  • Second, although Covid-19 is preventing us from meeting face to face, we can still get together online to discuss opportunities and strengthen confidence in cooperation.

My speech today will focus on two key words: confidence and cooperation.

In face of the severe challenge of Covid-19, I think we should strengthen confidence in China-UK relationship, confidence in China’s economy and confidence in economic globalization.

First, we should strengthen confidence in the China-UK relationship.

Covid-19 has inevitably affected China-UK cooperation, causing temporary slide in bilateral trade. Some companies are facing challenges such as fewer orders, logistic problems, difficulties in payment collection, and employee shortage.

However, I am sure these are only short-term pains. China-UK relationship still enjoys strong impetus and promising prospects for growth.

In a matter of one month, President Xi Jinping and Prime Minister Boris Johnson had two telephone conversations, during which they reiterated their commitment to the China-UK comprehensive strategic partnership.

Second, we should strengthen confidence in China-UK business cooperation.

Covid-19 has dealt a heavy blow to both our economies. However,

  • The willingness of our governments to promote China-UK partnership remains unchanged.
  • The complementarity between our economies and the win-win nature of our cooperation remain unchanged.
  • The support for China-UK cooperation from all walks of life in both our two countries remains unchanged.
  • And the determination of our two countries to safeguard free trade and build an open world economy remains unchanged.

Since the outbreak, our two countries have engaged in sound cooperation in a number of fields:

  • We had good policy coordination at the top level of government.
  • Our experts shared experience and conducted joint R&D on vaccine.
  • We assisted each other with medical supplies.
  • And we promoted global response to the pandemic.

Such cooperation has enriched the relationship between our two countries.

There is every reason China and the UK should keep up confidence in our long-term business cooperation in the post-Brexit and post-Covid-19 era.

Third, we should strengthen confidence in economic globalization and open cooperation.

Covid-19 has a severe impact on the global industrial and supply chains. But the pandemic also reminds us that mankind belongs to a community with a shared future, that we share weal and woe as we move forward.

If the world economy is to emerge from the trough at an early date, we must stand in solidarity, we must seek mutually-beneficial cooperation, and we must stay committed to a more open, inclusive, balanced and win-win economic globalization.

At the Two Sessions, the Government Work Report explicitly says that these are what China will do:

  • We will open our market wider to the world.
  • We will stabilize the industrial and supply chains.
  • And we will promote reform and development through further opening up.

This will provide strong impetus to and boost confidence in the steady growth of the world economy and stronger international cooperation.

China will continue to

  • step up coordination of macro-economic policies with other countries,
  • uphold open world economy,
  • safeguard steady global financial market,
  • and ensure an open, steady and safe global industrial chain.

In doing so, China will continue to contribute positively to global economic recovery.

Ladies and Gentlemen:

As we often say, confidence is more precious than gold.

It is my hope that China and the UK will seize the opportunities before our eyes and take the initiative to translate confidence into driving forces for cooperation and deliver more outcomes.

Here I have four suggestions that I want to share with you.

First, China and the UK should deepen political mutual trust so as to cement the foundation for long-term and win-win cooperation between our two countries.

In face of the pandemic, a strong and vigorous China-UK relationship is an important guarantee for business confidence and mutually-beneficial cooperation.

Our two countries should deliver on the important agreement reached between President Xi and Prime Minister Johnson in their two telephone conversations. We should respect each other and treat each other as equals; and we should take concrete steps to accommodate each other’s core interests and major concerns. This will foster a favourable environment and create necessary conditions for deeper cooperation between our two countries.

I know you have been following the National People’s Congress closely, especially the decision to establish a sound legal framework and enforcement mechanism for safeguarding national security in the Hong Kong Special Administrative Region, which was adopted yesterday.

The Hong Kong question concerns China’s sovereignty and national security. It bears on the core interests of China. I hope that the UK side will

  • view the NPC decision from a perspective that is objective and fair,
  • respect China’s position and concerns,
  • use discretion in both words and deeds regarding Hong Kong,
  • and do more things that are conducive to the prosperity and stability of Hong Kong and to China-UK political mutual trust.

Second, China and the UK should work vigorously to address the difficulties that our businesses are encountering, so as facilitate a speedy recovery of China-UK business cooperation.

The outbreak of Covid-19 has created numerous difficulties for our companies. In light of this, our two sides should enhance policy coordination and work together to ensure unimpeded global industrial and supply chains. We must do these to help our businesses turn the crisis into opportunities and emerge from the difficulties even stronger.

With this in mind, China has boosted the transport capacity of the China Railway Express. This has not only contributed to timely delivery of medical supplies and daily necessities to many European countries, including the UK. It has also opened a green channel for the flow of goods to resume.

In recent days, the Chinese side has also worked actively with the UK Government to open a “fast track” for employees of British businesses in China who need to travel to China urgently. This will greatly facilitate the reopening of these businesses.

It is important that the UK resist disruptions to our relations, such as the noises of “decoupling” and the clamours of a “new cold war”. We hope that the UK will continue to provide an open, fair, transparent and non-discriminatory environment for Chinese businesses here in this country, including Huawei.

Third, China and the UK should safeguard free trade, so as to promote the recovery and steady growth of the world economy.

Both China and the UK are important participants, facilitators and beneficiaries of economic globalization and trade liberalization. At this unusual time, it is all the more important that our two countries join hands to safeguard multilateralism and free trade.

China remains committed to deepening reform and opening its market wider to the world. Measures will be taken to ease market access, expand import and increase outbound investment.

Next month, the 127th China Import and Export Fair will take place online. This will be a brand new innovation in the history of this Fair.

In November, the third China International Import Expo will be held as scheduled. As of today, over 80% of the planned exhibition area has been booked.

China welcomes UK businesses with arms wide open. I hope they will seize the opportunities of these two events to achieve win-win results with their Chinese partners.

Fourth, China and the UK should work together to build a Silk Road of Public Health, so as to open up broader space for our business cooperation.

The UK is a “natural partner” for China in building the Belt and Road Initiative (BRI).

BRI is a great platform for our two countries to leverage our respective strengths.

  • We could work together to build green channels for medical supplies, such as the China Railway Express, and safeguard a steady supply chain for medical products.
  • We could conduct joint scientific research on vaccines and medicines, with a view to strengthening our capability to respond to epidemics.
  • We could also engage in cooperation with a third party. One example could be a network of disease prevention and control that encompasses Europe, Asia and Africa. Such cooperation will enable the Silk Road of Public Health to deliver benefits to more regions and peoples.

Ladies and Gentlemen:

President Xi Jinping said, we should view the current economic situation from a comprehensive, dialectical and long-term perspective; we should try hard to find opportunities in crisis and open up new prospects amid changes.

I am confident that as long as China and the UK strengthen confidence, enhance cooperation and resist disruptions, we will turn the crisis into opportunities and turn the opportunities into new success.

Together, we will deliver more business outcomes that benefit both our peoples;

We will provide positive energy for the steady and sustained development of China-UK comprehensive strategic partnership;

And we will make new and greater contribution to the world economic recovery!

Thank you!

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