The Invest in China session was hosted jointly by China’s Ministry of Commerce and the UK Department for Business and Trade, with the event organised by the China Investment Promotion Agency (CIPA, which sits under MofCom) and CBBC. It was kindly supported by Bank of China and HSBC.

Invest in China, attended by around 300 representatives from governments, enterprises, financial institutions, and business associations, opened with remarks by H.E. Ling Ji, Vice Minister and Deputy China International Trade Representative, MOFCOM, and Peter Wilson CMG, British Ambassador to China.

In his speech, Ling Ji stated that China continues to welcome British business to invest in China, encourages Chinese enterprises to invest in the UK, and looks forward to CIFIT creating new opportunities for UK-China investment cooperation. Ambassador Peter Wilson noted that the UK-China economic and trade relationship is “strategic, long-lasting, and built on mutual respect,” and emphasised that the UK government is willing to work with China to align modern industrial strategies with China’s innovation ecosystem, elevating bilateral investment to a new level.

The event featured two dialogues:

UK-China Financial Cooperation: Navigating Success and Future Growth

Chaired by Kiran Patel, Senior Director Commercial and Deputy Head of China, CBBC, the session brought together senior representatives from Baillie Gifford China, Schroders, KPMG, Bank of China London Branch, Nanjing Jiangning Economic & Technological Development Zone, and other institutions to discuss topics including fintech and green finance;

UK-China Investment Horizons: Pathways to Mutual Growth

Chaired by Tom Simpson, Managing Director, China, CBBC, this session saw senior executives from Diageo, AstraZeneca, Unilever, and BP sharing their experiences in China and expressing strong confidence in investing and deepening innovation collaboration in the country.

During the discussions, companies presented updates on projects in sectors such as life sciences and healthcare, green energy, intelligent manufacturing, and consumer goods.

Unilever gave a review of its full-category production base in Guangzhou, and Diageo gave an overview of its Yunnan whiskey distillery.

BP announced additional investment in the Lianyungang Jia’ao biofuel project to build a sustainable aviation fuel export base with an annual output of 500,000 tons, and AstraZeneca is investing $2.5 billion in Beijing to establish a global strategic R&D centre.

The “Invest in China” session underscored China’s firm and continuing commitment to expanding high-level opening-up and its aim at strengthening confidence in the country’s long-term economic prospects.

Wu Di, Head of Gas, BP China said, “We will continue to root ourselves locally, continuing to advance the energy industry, and strive to be a trusted partner in China’s energy sector, contributing to China’s energy transition solutions and jointly addressing the challenges of climate change.”

The UK is the Country of Honour at the 25th CIFIT. With 300 delegates, a prominent UK pavilion together with a series of activities promoting bilateral trade and investment, the UK’s presence marks the largest overseas delegation ever hosted by a Country of Honour in CIFIT’s 25-year history.

See CBBC CEO, Peter Burnett’s round up of the Fair here

CBBC President, Lord Sassoon, said:

“With growth top of the agenda for the UK government, this year’s CIFIT has had great support from HMG. The letter from Sir Keir Starmer, which was much appreciated by Chinese officials, further smoothes the way for British businesses to grow in China.

With record attendance by British companies and a UK Pavilion that was amongst the largest at the Fair, I know that the CBBC team will do all they can to help our members to capitalise on the big efforts so many have made to be in Xiamen this week.

It was also great for the UK to be partnered with Jiangsu, which was Province of Honour, and which a strong and dynamic province - there are few better places to invest in China at the moment.”

The Fair is drawing to a close, but UK activity in China continues with the Joint Economic Trade and Investment Commission (JETCo) taking place in Beijing on 10th September. This will be the first JETCo in seven years, so promises to be an important forum for addressing key issues in the bilateral trade relationship.

CBBC is closely involved in the business programme around JETCo; we will continue to update on activity as the week progresses.