UK leading Europe for FDI as Fox hunts future investors in China
5 Nov 2018 04:58 PM
50 UK businesses showcase at the China International Import Expo, as a new report ranks the UK as the 2nd top destination in the world for investment.
International Trade Secretary Dr Liam Fox will attend China’s biggest international import show alongside a 50-strong UK business delegation. He will be beating the drum for UK businesses during the inaugural China International Import Expo (CIIE).
Taking place in Shanghai from 5-10 November, Dr Fox will push for British firms to secure tens of millions of export wins and investment at the show.
He will hope to build on the recent success highlighted in the United Nations Conference on Trade and Development (UNCTAD) report, which indicated the UK achieved the second highest level of Foreign Direct Investment (FDI) in the world during the first six months of 2018.
Championing UK business, Dr Fox will tour the UK Pavilion in China as it showcases world-leading companies including Jaguar Land Rover and British Airways, as well as promoting a range of sectors popular in the Chinese market such as healthcare, education and the creative industries.
International Trade Secretary Dr Liam Fox MP said:
As we leave the European Union, we have a once in a generation opportunity to put the UK at the centre of the world’s fastest growing market - and increasing trade with China is at the heart of this vision.
Greater global trade links not only deliver a better deal for consumers and businesses but create jobs for people back in the UK. Whether you are an armchair exporter or a growing firm looking for international investment – this event will help drive prosperity in the UK.
Over recent months China has started to open up its markets for UK goods and services, including dairy products, potatoes and petrol stations. DIT’s presence at the show will help create even more exciting opportunities for British companies.
The International Trade Secretary will be joined by the Minister for Trade and Export Promotion Baroness Fairhead and His Royal Highness The Duke of York.
The UK, which has been named a “Country of Honour” at CIIE, is seeing the event as a major opportunity to grow bilateral trade which is already worth more than £65bn.
UK Pavilion at CIIE
The UK’s presence at CIIE will feature revolutionary technology and industry best practice from a range of sectors including healthcare and life sciences, financial and professional services, creative industries, energy and mining, ICT, education, aviation, FMCG and sport.
The theme of the Pavilion is Innovation is GREAT and will include cutting-edge Virtual Reality and Augmented Reality technologies from ground-breaking British companies such as Mi Hiepa Sports, who promote Global Elite Football VR - a market leading VR training & cognitive development tool for elite football, which is already used by world leading football clubs.
The pavilion will also feature companies such as WorldFirst, ACCA, Lloyds Bank, Alibaba Cloud, the University of Buckingham, Rio Tinto, Baosteel and Anstee, GSK and Boots.
Notable British contributions to the Expo include:
- BP who have been operating in China since the early 1970s and are one of the leading foreign investors in the oil and gas sector in China
- HSBC who will showcase the bank’s heritage in China and its central role in linking China with the world through trade and investment
- Global healthcare company GSK, who are fostering exchange between Chinese and British universities in the fields of health and economy, and developing advanced medical solutions that are most relevant to Chinese patients