British business leaders have been meeting in London looking at ways to cash in on China’s new role as the world’s biggest trader in goods. New figures from Beijing indicate that the world’s second largest economy has overtaken the United States as the world’s largest trading nation. And as Richard Bestic reports from the UK capital, British businesses are eager for a share.
China’s bustling ports tell the tale of the trade, as China marks another milestone in its path to becoming one of the world’s most powerful nations.
The total value of China’s imports and exports in 2013, according to the country’s customs administration, more than four trillion dollars.
In Britain, business is keen to take advantage.
As government ministers welcome Chinese trade.
British business is also targeting Chinese construction, as the country’s rapid urbanization moves it in the direction of 200 cities of more than a million people within a decade.
Britain is also on course to become an offshore centre for trade in the Chinese Renminbi.
There are in addition massive Chinese financed infrastructure projects including ports and nuclear power plants
This new generation of business people aware of the chance China offers the UK economy Sino Anglo trade setting new records according to Britain’s office of national statistics and helping close the UK’s trade gap with the rest of world.
Regardless of its low starting point, Britain’s clearly targeting trade in every area of business .. becoming the new best friend inside the European Union with what is now the world’s biggest trader.