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H.E.Mme Fu Ying Delivered a Speech at China Business Summit Held by Economist Intelligence Union

    On 22 May 2007, Ambassador Fu Ying was invited to attend the "China Business Summit 2007" held by The Economist Intelligence Union and delivered a keynote speech named "China's Development Brings Opportunity". 80 senior managers from over 10 British industries such as manufacture, finance, telecommunication and health as well as the representatives of local media were present.


    H.E. Mme. Fu Ying introduced the overall situation, challenges and countermeasures of China's economic and social development. In addition to the amazing economic achievements and tremendous changes of people's life, Fu Ying also talked about the challenges of unreasonable industrial structure, environmental pollution and imbalance of regional development. She pointed out that Chinese government will carry out the scientific outlook on development to realize the comprehensive, coordinated and sustainable economic and social development for the purpose of building a harmonious society. Fu Ying explained a series of new moves of China to encourage import and the enterprises to go out, called on the British enterprises to seize the favourable opportunity to strengthen the cooperation with the Chinese counterparts in the fields of science and technology, environmental protection and service, especially on technology trade. Fu Ying also answered questions on Chinese investment environment and intellectual property protection. As to the news management in China, Fu Ying introduced the vast development of Chinese media in recent years. Due to the super expansion of new media with Internet as the main part and its important role played in people's life, self-discipline is especially necessary. In addition, every government has news control to some extent, which is necessary to maintain legality and order; Chinese government also has its own control, which has proved success and won broad support.


    Having been run for three years in a row, China Business Summit has certain influence in the UK. The participants generally considered Chinese political system remains stable, economic development has made remarkable achievements and maintains momentum. China has attracted huge foreign investments. Fu Ying said Chinese media is becoming more and more active and playing an increasingly important role in the Chinese government's endeavors of combating corruption and caring for people's livelihood. However, China is also facing many challenges, primarily the overheated stock market, increased inflation pressure, environmental problems and widened gap between the rich and the poor. Moreover, owing to China's development and sufficient funds, the demand for foreign investment has shifted from quantity to quality and the overall investment environment in China tended to become complex. The issues such as setting up small and medium enterprises in China and developing business were discussed in group at the Summit. Representatives from multinationals presented their successful experience in China that the strategy should be formulated from the macroscopic perspective so as to accord with the overall development strategy of the Chinese government. In brief, this conference held a positive view on China, reflecting the rising interests of British business circles in investing in China.