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China is the UK’s third-largest export market and the
world’s second-largest and fastest-growing major
economy
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A government website
has been developed in response to demand from tech
sector looking for guidance around opportunities in
China
The Government has published guidance to help cutting-edge
UK firms negotiate the ethical, legal and commercial
questions they may encounter in China or when working with
Chinese businesses.
The guidance sets out key
issues digital and tech SMEs should consider as they weigh
the benefits and risks of commercial ventures, as well as
signposting specialist sources of advice.
The site, which has been developed in response to demand
from the sector, will support safe and appropriate UK-China
collaboration in digital and tech.
The Government recognises that for many UK businesses,
working with world-leading Chinese firms at the cutting
edge of innovation is not just about the lucrative market
China offers, but is also critical to remaining globally
competitive in the future.
The UK’s AI Unicorns - including Improbable and Blue Prism
- have launched in China and more leading companies are
likely to follow.
China is the UK’s third-largest export market and the
world’s second-largest and fastest-growing major economy.
But this must be done safely and in a way that reflects the
UK’s values and takes account of national security
concerns.
The Government’s guidance will help SMEs to make a success
of business ventures linked to China, to choose the right
partners and to manage risk by taking appropriate steps.
It complements measures
announced in June to support UK tech companies to seize
trade and investment opportunities overseas.
These included a new Digital Trade Network for
Asia-Pacific, which will support UK SMEs to break into the
Asian market, and a new Tech Exporting Academy to provide
expert advice to UK scaleups on subject areas essential to
expansion, including regulation, intellectual property, and
compliance.
Minister for Digital and Culture
said:
The latest statistics show UK-China bilateral trade has
exceeded the £70 billion mark for the first time and our
digital tech sector is the fifth biggest exporter of
services in the world.
But we recognise the ethical, legal and commercial
questions businesses face when they work in China or with
Chinese businesses.
The UK is determined to support our businesses to engage
with China in a way that reflects the UK’s values and
takes account of national security concerns.
David, CEO,
techUK, said:
At techUK, we recognize the massive opportunity that
China presents for the UK’s digital and tech businesses
as well as challenges that firms face when navigating
each other’s unique marketplaces.
To be successful and protect their operations, digital
and tech businesses need to know the challenges and take
the right steps to navigate them.
We welcome the Government’s launch of the bespoke
guidance to SMEs and we look forward to working together
to help digital and tech SMEs to grow safely and
successfully in China.
