Roundup: UK-China trade relationship gains momentum amid global uncertainty, say industry leaders

The Star

3 days ago

LONDON, May 29 (Xinhua) -- Business leaders and industry representatives expressed optimism about the evolving trade relationship between Britain and China on Thursday, speaking on the sidelines of the Global Britain Trade Expo 2025, an annual trade forum designed to help businesses expand internationally.
Held at London's Queen Elizabeth II Centre, the forum drew senior decision-makers and executives from more than 36 countries. Despite mounting geopolitical and economic uncertainty, many participants saw continued opportunities for expanding trade between Britain and China.
Marco Forgione, director general of the Chartered Institute of Export & International Trade, told Xinhua that while recent global disruptions have presented challenges, there remains significant potential in bilateral trade. "It would be foolhardy to imagine that the future of electric vehicles, or many other sectors, doesn't herald a partnership between the UK and China," he said.
"If we are to address climate change, economic deprivation, health inequalities, and educational exclusion... the only way we do that is through collaboration," Forgione added.
John McLean, chairman of the China-Britain Business Development Centre, described the trade atmosphere between the two countries as having "markedly changed" since mid-2023, following visits by several senior British officials to China.
"There's a pragmatic approach being adopted by both China and the UK, which is welcome for business," he said. "The opportunity is now -- go get on that plane and go to China."
From a business perspective, Jack Wu, managing partner at Acadia Advisory Group, now joining the forum for the second year, noted a surge in interest from British companies entering the Chinese market.
"Since last year, we've seen many British companies coming to China across various sectors: food and beverage, pharmaceuticals and healthcare, universities and training schools, and luxury brands," Wu said. He noted that British firms are leveraging China's fast-growing e-commerce platforms to overcome distribution challenges.
Echoing Wu's view, Molly Ling, CEO of Shopfever Group Limited, said China's expanding e-commerce ecosystem and favorable regulatory changes have created a competitive edge for British and European brands.
"China was the biggest e-commerce market in the world in 2023, nearly double the size of the United States, and at least four times that of the UK," she said. Ling also pointed to China's favorable tax schemes and significantly lower platform fees compared to the U.S. as key advantages.
Amid concerns about the global impact of U.S. tariffs, Forgione emphasized that the most damaging effect of tariffs is the uncertainty they create.
"You've had an escalation of tariffs and then those tariffs are cut, and then this morning you hear that a federal court says the U.S. tariffs are unconstitutional -- all that does is create uncertainty and instability," he said.
"There's no use harking back to a time of certainty, because in truth, it never existed. The clarion call we must all answer is to get trade flowing -- that's how we confront the systemic challenges we face," Forgione added.
McLean echoed this point of view: "For businesses, uncertainty is the death word. It stops everything because planning becomes impossible. How long is your investment period? What might change in the meantime? The risk of expanding abroad is constantly under challenge."
He added that China stands out for its policy consistency. "I think China has stability. With the current global instability, China has the advantage to accelerate that consistency and help others believe it's time to start trading with, or at least looking at, China," McLean told Xinhua. "We now live in a volatile world, but China is still implementing its five-year plans."
Ling also noted that shifting priorities due to tariffs are redirecting business attention: "European and UK brands used to focus mostly on the U.S. -- their biggest market. But now they're forced to look elsewhere, and this has allowed businesses like us to help them understand both the UK and European context and the Chinese market."
Winnie Seow Mei, international markets lead at Hawksford UK Services Limited, also voiced confidence in long-term trends.
"We've seen that trade between the UK and China has actually increased," she said. "There is still strong interest from British brands looking to expand into the Chinese market."