CBBC CEO Interview with 21st Century Business Herald in Hong Kong
The China-Britain Business Council (CBBC) is a national business and trade network United Kingdom promote trade and investment in China, with nearly 300 core members, most of whom are enterprises, banks and trading companies engaged in long-term economic and trade cooperation with China.
Since its establishment 70 years ago, CBBC has been committed to the development of economic and trade cooperation between China and the UK, and has organized many large-scale events attended by the ministers of commerce and trade of the two countries, and participated in the reception of important officials, including heads of government.
Peter said that when he first came to work in Hong Kong, United Kingdom's GDP was twice that of China. Today, China's GDP has jumped to the second highest position in the world, the capital market has been further opened, and the rapid growth of foreign trade has also led to a wave of foreign investment, which has greatly affected his view of business.
"This change has had a profound impact on the global economy, and I have had the privilege of experiencing it firsthand." He said.
Peter believes that the current problem of Chinese consumer confidence is only short-term, the consumer market will recover soon, and United Kingdom companies with deep roots in China will continue to maintain strong growth in the Chinese market.
"With a middle-income population of around 800 million people, China is an attractive market for companies in the consumer goods industry that cannot be ignored." Peter noted.
In recent years, United Kingdom companies have continued to increase their investment. According to China's Ministry of Commerce, United Kingdom's actual investment in China increased by 81.0% in 2023. The China-Britain Business Council also predicts that about a quarter of the top 100 companies operating in China United Kingdom will continue to invest between $200 million and $1 billion in the Chinese market. China will continue to be a key part of the global presence and source of revenue for many United Kingdom companies.
To hear Peter's full insights, you can watch the full interview here: Global Eyes on China丨Exclusive Interview with Peter Burnett, CEO of China-Britain Business Council