On Wednesday, 12 November 2025, the China-Britain Business Council (CBBC) holds the Chair Handover and Member Appreciation Dinner in Beijing. Senior representatives from the UK and China government, including Peter Wilson CMG, His Majesty’s Ambassador to China, and Mr. Ren Hongbin, Chairman of the China Council for the Promotion of International Trade (CCPIT), attended the event alongside 120 guests from government and business. Attendees expressed sincere thank you and farewell to Sir Sherard Cowper-Coles KCMG LVO, whose time as Chair of CBBC concluded earlier this month, and congratulated Sir Sebastian Wood KCMG, Chairman of Schroder Group China and former British Ambassador to China, on his appointment as the new Chair of CBBC.

In his speech, Ambassador Peter Wilson CMG thanked Sir Sherard Cowper-Coles for his contributions over the past six years and extended a warm welcome to Sir Sebastian Wood as the new Chair. He highlighted that Sir Sebastian’s background in both diplomacy and business provides a firm foundation for the role ahead. The Ambassador reiterated that China-UK relations are grounded in a “long-term, consistent, and strategic” partnership, and expressed his hope that both nations will continue to work together across all sectors to further strengthen bilateral ties.

In his speech, Chairman Ren Hongbin promoted the spirit of the Fourth Plenary Session of the 20th Central Committee of the Communist Party of China, emphasising that China’s expansion of high-level opening-up will provide enormous space for the business communities of various countries to strengthen cooperation with China. CCPIT is willing to work with partners such as CBBC to build more high-quality platforms for pragmatic cooperation between the Chinese and British business communities and effectively contribute to the steady and long-term development of China-UK relations. 

Sir Sebastian Wood, the newly appointed Chair of CBBC, said in his remarks:  “My key focus as Chair will be to help CBBC members grow profitable trade and investment between the UK and China. The UK and Chinese economies are highly complementary. Despite challenges such as economic slowdown and increasing geopolitical complexity, British companies remain optimistic about China. The recently published 15th Five-Year Plan also echoes with this optimism—China will continue to open its services sector to foreign participation, boost consumption, and promote green development, all areas where British companies have strong expertise. Looking forward, CBBC will continue to support political dialogue and bilateral initiatives between the two nations, which can create new opportunities for business on both sides."

Looking back on his six-year tenure, Sir Sherard Cowper-Coles elaborated on the significant value of China-UK relations in his speech. He emphasised that continuously deepening economic and trade cooperation between the two countries is not only promoting business growth, but also enhancing the health, wealth and well-being of the peoples of both nations.

In his remarks, Zhang Shouchuan, Senior Executive Vice President, ICBC said:" The UK is China's second-largest direct investment destination in Europe, with bilateral trade in goods and services surpassing $130 billion in 2024. China and the UK have become important trade and investment partners for each other. After more than 40 years of development, ICBC has become the world's largest commercial bank by total assets. ICBC is committed to strengthening cooperation with both CCPIT and CBBC, providing more robust and effective financial support for the growth and development of enterprises in both countries.”

David Guo, China CEO of Schroders shared: “As a global asset manager with over 30 years’ presence in China, Schroders has witnessed – and supported – China’s remarkable financial evolution. Schroders looks forward to working together to unlock new opportunities.  By bringing our “Active Edge” – our commitment to nimble, insightful, and responsible investing through active management – we aim to help our partners and clients succeed in a dynamic world.” 

In her speech, Jasmine Dang, Vice President of Unilever Greater China, stated: “For Unilever, China has long been more than just a market – it is a hub driving global innovation. We have consistently remained agile, aligning our product innovation and service development with the pace and direction of China market. Looking ahead, we look forward to introducing more high-quality products and cutting-edge solutions that combine global expertise with Chinese innovation, benefiting consumers in both countries.”

CBBC would like to extend our sincere gratitude to all parties for their support of this event, particularly our Diamond Sponsors: Schroders, Unilever and ICBC London; Gold Sponsors: ACCA and Prudential; and In-Kind Sponsor: Diageo.