UK Market
U.K. trade official expects more ties
A VISITING official from Britain has seen great potential and expects increased cooperation with Shenzhen in areas such as design, low-carbon energy, and advanced manufacturing.
On a visit to Huawei Technologies, one of the largest Chinese investors in Britain, Nick Baird, chief executive officer of U.K. Trade & Investment (UKTI), said Britain and Shenzhen can be "partners for growth." As Shenzhen upgrades its industries and transforms its development mode, Baird thought the two sides could cooperate more in high-tech industries.
Huawei now has offices in seven British cities, and plans to double its workforce there over the next three years.
"I was very impressed by the innovation I saw at Huawei. Britain is the easiest place in Europe to do business, so I look forward to welcoming more Shenzhen companies to my country. Like Huawei, they can benefit from research collaboration with leading British universities," said Baird.
In his first visit to Shenzhen, Baird was also impressed by how many British companies are doing business in the city. He visited two key construction projects which were built using British design and structural engineering expertise — the Kingkey 100 and the Western Corridor Bridge.
The Kingkey 100 was designed by British architects Terry Farrell and Partners, and the British company Arup is providing structural solutions for its slender design. Arup was also a consultant for the Hong Kong part of the Western Corridor Bridge, and has been involved in many other projects in Shenzhen, including Shenzhen Bay Sports Center, which was used for the opening ceremony of the 2011 Summer Universiade.
UKTI is a government organization that helps British companies compete in the global economy and provides support and advice to overseas companies investing in Britain.
Britain-Shenzhen bilateral trade has reached over US$5 billion annually. British companies that have invested in Shenzhen include Standard Chartered Bank, British Gas, Tesco, and B&Q. Many leading Shenzhen companies have also invested in Britain, including Huawei, ZTE, China Merchants Bank and Mindray.
Britain, which is considered the most open economy in Europe, is the largest source of foreign investment from the EU to Shenzhen, accounting for approximately US$1.35 billion. China invested in 59 projects in Britain in 2010-11, and there are over 400 Chinese companies operating in the country.