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Ambassador Fu Ying's Attending the Annual Luncheon of the China Financial Service Committee of the China-Britain Business Council
2009/05/18

On 27 April 2009, Ambassador Fu Ying was invited to attend and address the 14th annual luncheon of the China Financial Service Committee hosted by the China-Britain Business Council (CBBC). Around 70 representatives from the UK business and financial communities and offices of Chinese businesses attended the luncheon.

Fu briefed the audience on China's current economic situation. She said that the policy measures set out by the Government to tackle this crisis have seen initial results. Fiscal and monetary policies are playing their active roles. Domestic investment and consumption have achieved positive growth. Industrial production is growing steadily. Agricultural input is increasing. Urban and rural households are continuing to enjoy income growth. However, the economy is still facing many challenges as a result of global economic downturn. Imports, exports and actually-applied foreign investment are on the decline. Employment remains a big challenge. Fiscal revenue is on the shrinkage. For the next step, the government will continue to take effective moves to pull up investment and consumption, promote agricultural growth, support businesses in going global, and foster new growth points such as new energies, energy-efficient and environmentally-friendly industries, industrial design and software service and outsourcing. At the same time, it will intensify efforts on addressing the basic needs of the people and improving their livelihoods.

Fu also spoke highly on the positive progress made in China-UK relations. She briefed the audience on President Hu Jintao's attendance at the London Summit and Premier Wen Jiabao's visit early this year. She said that there has been frequent exchange of high-level contacts, the two economies are highly complementary and the two countries are enjoying closer cooperation in international affairs. In the context of the financial crisis, the two countries should even more joint hands to overcome difficulties.

Other speakers included Hugh Davies, CBBC Senior Director, and David Shaw, Board Advisor to Hang Seng Bank. Both gave high appraisals on the policy measures that the Chinese government has taken to tackle this crisis and the effects achieved, and expressed satisfaction with the cooperation between financial institutions of the two countries. Both believe that the Chinese economy will emerge from challenges and achieve sustainable growth. Both hoped to increase practical cooperation between the two countries in trade and finance.

 

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