The China-Britain Business Council (CBBC) was delighted to launch its 4th Belt & Road Report – A Guide to UK Services in the presence of the Chancellor of the Exchequer, the Rt Hon Philip Hammond MP, and other leading representatives from UK and Chinese government, associations and businesses.
The Belt & Road Forum Reception, co-hosted by the Department for International Trade (DIT) and CBBC was held in Beijing on Thursday, 25th April at the British Ambassadors’ Residence. The event brought together leading British and Chinese businesses, banks and contractors engaged in infrastructure projects along the BRI, enabling networking opportunities at the highest level, and harnessing the platform to establish further synergies for partnership across the Belt and Road regions.
Chancellor of the Exchequer, the Rt Hon Philip Hammond MP congratulates the China-Britain Business Council on the launch of the 4th Belt & Road Report
The BRI currently covers some 126 countries, representing over 65 per cent of the world’s population and a third of global GDP. In a recent report, the World Bank stated that the BRI has enabled nations and regions throughout its path increase average income by between 1.2%-3.4%, achieving a global increase of 0.7% - 2.9%. This data provides strong evidence that the BRI is delivering a significant boost to global prosperity.
According to the Chinese Contractors Association (CHINCA), BRI projects attracted a total of $2.3bn in Chinese outbound investment throughout the first two months of 2019, accounting for over half of the value of total Chinese outbound investment. As BRI projects continue to grow in number, size and complexity, there are naturally new challenges to tackle, meaning that the need for deep and wide-ranging international collaboration has never been greater.
‘A Guide to UK Services’
follows on from the CBBC’s previous three reports. The first CBBC Belt and Road report introduced the Initiative and the main BRI routes; subsequent reports have showcased examples of UK-China partnerships, and identified specific opportunities for future UK-China collaboration.
Lord Sassoon (CBBC) Chairman Fang (CHINCA) and Sir Douglas Flint HM Treasury’s Special Envoy for the BRI proudly present the CBBC's 4th Belt & Road Report - A Guide to UK Services
Lord Sassoon, Chairman of the China-Britain Business Council, highlighted the shift throughout this 4th
report, from broader opportunities for the UK to engage with BRI, towards the more practical aspects of BRI collaboration:
"In this report the China International Contractors Association (CHINCA) sets out the increasingly complex challenges for their member companies in big infrastructure projects. They need risk management and sustainable development solutions. The report shows how CBBC member companies have the full range of services which China needs to make its Belt and Road projects sustainable."
--- Lord Sassoon – Chairman, China-Britain Business Council
The strength of UK and Chinese strategic and commercial partnerships across numerous sectors has, since the inception of BRI, been a fundamental pillar for enabling success for a number of key infrastructure projects.
Sir Douglas Flint, HM Treasury’s Special Envoy for the Belt and Road Initiative commented that:
“Partnerships and alliances lie at the heart of the Belt and Road Initiative and the CBBC’s 4th BRI Report demonstrates clearly, that there is already a significant volume of UK commercial activity taking place in support of the BRI.
These initiatives and many like them are spearheading the BRI’s development, contributing to sustainable economic growth, ecological improvement and an open and transparent business environment - raising standards and quality across a significant number of current, planned and future infrastructure projects.
As HM Treasury’s Special Envoy for the Belt and Road Initiative, I am delighted to see that the UK’s highly respected capabilities in financial & legal professional services, design & innovation, infrastructure & advanced manufacturing and in marketing & communications are contributing, through their involvement with the BRI, to making a profound difference to prosperity and development in many of world’s most deserving economies.”
--- Sir Douglas Flint – HM Treasury’s Special Envoy for the BRI
The CBBC’s 4th BRI Report has been developed in partnership with the China International Contractors Association (CHINCA). With over 1,500 members working in 190 countries, CHINCA is the voice of the Chinese International Contractors industry, with many of its members playing a vital role in the BRI story. Engineering News Record (ENR) Magazine’s 2018 top 250 international contractor data indicated that Chinese companies have been involved in 23.7% global infrastructure projects. CHINCA share the same vision and long term goals as the CBBC to improve sustainable infrastructure.
Chairman Fang Qiuchen paid testament to the work of CBBC in promoting the importance of sustainable growth and development across the BRI:
“The China-Britain Business Council (CBBC) has been working to promote China-UK and global trade and investment for many years, and the three BRI reports previously published by CBBC have played an important role in promoting China-UK cooperation. We wish to continue to work with CBBC in a practical and constructive way to realise our common objectives, for example by building a shared platform, integrating resources, and cooperating to develop third country markets together.
The main theme of this report is risk management and sustainable development. The report explores specific industry risks which companies face in BRI projects, in terms of identification, response and management. The guidance and reference cases provided by the report will help to promote further China-UK cooperation and drive forward the development of China’s international contracting and engineering industry.”
--- Chairman Fang Qiuchen – Chairman, China International Contractors Association
This report wouldn’t have been possible without our sponsors and contributors, which include Standard Chartered, Wood plc, Mott MacDonald, Clifford Chance, Atkins, Wei Yang & Partners, ACCA Global and Hawksford. The key sections covered throughout the report include:
- Structured Finance
- Infrastructure, Energy and Built Environment
- Risk management
- Legal and IP Issues
- Accreditation and training
- Marketing, PR and Communications
CBBC will continue to organise a number of events throughout the year to promote the role of UK Services in supporting the BRI. If you wish to access the CBBC’s 4th BRI Report – A Guide to UK Services
the bilingual publication can now be accessed online:
fore More photos of the reception.
The CBBC Belt & Road Report Series
CBBC has written 4 Reports on Belt and Road, all of which can be downloaded from the following links
Our Sponsors & Contributors
Infrastructure, Energy and Built Environment
- Financing the Belt and Road - Standard Chartered
- Greening the Belt and Road Initiative - HSBC
Managing Risk on the Belt and Road
- A Standard Approach to a Better BRI - ARUP
- The Role of Special Economic Zones with Urban Developments in China’s Belt and Road Initiative - Atkins
- Exploring the Unique Cultural Value of the Belt and Road Initiative – Weiyang & Partners
- Setting International Standards for the Belt and Road - BRE
- Driving the Clean Energy Transition – Mott MacDonald
- Clean Coal Opportunities on the Belt and Road – Wood plc
- Digital Services in the Built Environment - Atkins
- Enhanced Due Diligence – G3
- Project Insurance and Risk Management - JLT
- Debt Recovery and Project Restructuring – Grant Thornton
- Corporate Structuring Via Third Countries - Hawksford