The UK delegation secured more than £2 billion of
commercial deals across a range of sectors including
creative industries, healthcare, education, energy, mining
and aviation. The deals include:
- a £30 million partnership between Clipper Media Capital
and Arca Pictures on film co-production
- a deal between TPP and Shanghai Kunfu Bio Technology to
roll-out an AI-led health management app in Shangai
- a deal signed by Rolls Royce worth more than £850
million
In addition to the commercial deals that will have
immediate benefits for the UK economy, CIIE saw
China take some significant steps towards further opening
its economy.
China’s ongoing efforts to open up, increase imports across
both goods and services and improve the business
environment were welcomed by the UK government, as were
President Xi’s calls to relax investment restrictions in
the education and healthcare sectors.
International Trade Secretary MP said:
Shanghai Expo was a major success for UK firms with more
than £2 billion of deals signed by businesses of all
sizes – from SME’s in the creative industries to global
powerhouses like Rolls Royce. China demonstrated a real
desire for British goods and collaboration with British
firms and the UK delegation took full advantage.
There were also very encouraging signs that China is
genuinely committed to further opening up of its economy.
And while we welcome the signals, we want to see a clear
timeline for liberalisation and even further opening up
including easing investment restrictions across all
sectors, amending technology import-export regulations
and ensuring government procurement follows WTO
standards.
Further liberalisation in the services sector, in
particular, is key for British firms as we have the world
class expertise that many Chinese businesses need in
order to reach their economic potential.
, Minister for
Trade and Export Promotion, said:
The UK Pavilion at the CIIE in
Shanghai exhibited the very best of British innovation in
areas like education, AI and big data where we are truly
global leaders. UK businesses used this unique platform,
and benefited from our country’s position as a ‘Country
of Honour’, to secure substantial new sales.
There is real and significant demand in China for British
products and services. Indeed, recent research from
Barclays shows that Chinese consumers are willing to pay
more for goods made in the UK because of their trusted
quality.
Our department’s new Export Strategy aims to ensure
British businesses are properly supported to capitalise
on this opportunity. Our goal is to help UK companies
build even further on last year’s impressive 28% growth
of exports to China.
