Andrew Seaton, CBBC Chief Executive, said:

“China is the UK’s biggest trade partner in Asia and a fast-growing market for British goods. Trade with China promotes local economic growth, creates jobs, and fosters innovation. It enhances the UK’s standard of living as well as its global standing.
“Over the past year, China’s growth has accelerated following the ending of pandemic era restrictions at the end of 2022. China’s economy grew 4.9% in the last calendar quarter — outpacing most major economies — and its retail sales saw a 7.6% year-on-year increase in October. 

“While China’s economy has not “taken off” as many anticipated, it is performing better than in 2022 and has managed difficult challenges such as the ongoing real estate crisis through investment and policy stimulus.

“The effects of China’s recovery can already be seen in UK trade figures. According to ONS data, UK goods exports to China and Hong Kong grew 71% to £44.4 billion in the four quarters to the end of Q2 2023… China continues to present significant business opportunities owing to its vast market and rapidly growing middle class, a demographic that holds UK brands in high regard."

Read the Trade Tracker here

The China-Britain Business Council and its members:

CBBC is the UK’s leading business network supporting trade, education, and investment links with China. Our membership includes over 400 UK businesses and universities.

Since 1954 we have acted as the independent voice of business, and past Chairs include Lord Powell, former foreign affairs advisor to Prime Minister Margaret Thatcher, and Sir David Brewer, former Lord Mayor of the City of London. The current Chair is Sir Sherard Cowper-Coles. Lord Sassoon is Honorary President.

Members include some of the most recognisable British businesses such as abrdn, Arup, Atkins, BP, Diageo, EY, HSBC, IHG Hotels and Resorts, Jaguar Land Rover, KPMG, Legal & General, PwC, Reckitt, Rio Tinto, Smith+Nephew, and Standard Chartered.


Kenrick Davis, Senior China Policy Analyst at the China-Britain Business Council