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Fu Ying Attended Summer Reception of China Britain Business Council (CBBC)
2007/07/06

China Britain Business Council (CBBC) held the annual summer reception in the Mansion House, residence of Lord Mayor of the City of London on 28 June. Ambassador Fu Ying was invited to attend the reception and delivered a speech. 300 representatives from British government, enterprises, consulting firms and academic institutions were present.

In the speech, Chairman of CBBC Lord Powell mentioned profound changes have taken place to the world pattern after the World War II, China and India had become major economies in the world, therefore, comprehensively understanding China's economic strength, policy and direction as well as deciding how to develop relations with China is of vital importance to UK. CBBC has been dedicating to providing information and advices on Sino-UK trade and promoting bilateral cooperation. At the end of Powell's term of office, Honorary Treasurer of CBBC and former Lord Mayor of the City of London David Brewer will take over the chairmanship.

After affirming CBBC's work and Lord Powell's contribution, Fu Ying expressed welcome to David Brewer to succeed as the chairman and hoped CBBC will play a more constructive role in promoting bilateral economic and trade relations during the new historical period.

Fu Ying pointed out the volume of trade between China and UK is 100 times now as much as 50 years ago when CBBC was established, at the same time great changes had taken place to Chinese economy. At the climax in the history of Sino-UK relationship, China is taking expanding imports and optimizing the industrial structure as the focus of its economic and trade work, promoting technology innovation and laying stress on environment and climate change, meanwhile the Chinese enterprises are actively going abroad to look for opportunities of overseas investment. As Britain possesses advanced technologies and experiences in many fields, there is huge potential for Sino-UK cooperation.

She said Chinese Premier Wen Jiabao has sent a congratulatory telegram to the newly-appointed Prime Minister Brown and expects to push the bilateral relations forward. The Chinese embassy is discussing with the British side to hold seminars on expanding two-way investments during Brown's visit to China and looking forward to the coordination of CBBC. She hopes China and UK will make joint efforts and seize the opportunity to deepen and develop bilateral relations.

Lord Mayor of the City of London Sir John Stuttard and Chief Executive of UK Trade and Investment (UKTI) Andrew Cahn addressed the participants respectively, commending Lord Powell for his excellent leadership, under which CBBC's influence was increased substantially during the past 10 years. In addition, UKTI and CBBC have determined the plan to strengthen economic and trade cooperation in China early in June.

CBBC was previously known as 48-Group Club founded by medium and small British enterprises in 1983. In 1991, the group merged with the Sino-British Trade Council, the semi-official organization set up by British government to form the China-Britain Trade Group. The present name was adopted in 1997. It is an organization of most importance to provide advices on China business for UK and promote the bilateral trade. It has set up 9 offices in China and 5 offices in UK. With 500 core members, CBBC's associate members embrace almost all the well-known enterprise in British business and financial sectors.

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