Li Changchun, a senior official of the Communist Party of China (CPC), has called on British businessmen to seize the opportunity in China as the world’s second largest economy is undergoing economic transition.
“China will become the world’s biggest importer and consumer market in a foreseeable future. Its inflow and outflow of investment will get more balanced in a relatively long period, which is to bring enormous business opportunities for companies worldwide, including those from Britain,” Li said at a business dinner hosted by China-Britain Business Council on Tuesday evening.
Li, member of the Standing Committee of the CPC Central Committee, was on a four-day official goodwill visit to Britain, aiming to boost bilateral ties and promote cultural exchanges.
He said global economic recovery still faces many uncertainties as the eurozone sovereign debt crisis has not been effectively controlled. Both China and Britain are redesigning their growth models, which will result in new opportunities for each other, he said.
This year marks the 40th anniversary of the establishment of full diplomatic relations between China and Britain. In the past four decades, China-Britain trade relations have enjoyed rapid development.
In 2011, China-Britain trade reached 58.7 billion U.S. dollars, which was up 17.2 percent from 2010 and was 185 times the figure when the two nations established diplomatic relations.
Britain’s exports to China are soaring, with a year-on-year growth of 30 percent in 2011 following a 40 percent annual growth in 2010.
Within the European Union, Britain is now the second biggest investor in China. In 2011, Britain also saw the largest surge of Chinese investment among European countries.