Although remain almost unknown for its involvement in Business, education and culture, British business has actually played an active role in China’s economic development. There are more than 6,000 UK-invested projects that worth $15 billion in China, making it the first ranked country among European countries in volume and actual realized value of investment.

Since 2002, China has been the UK’s fastest growing market for exports of goods and now is the largest outside the Unite States and Europe. Moreover, with a 2-to-1 surplus in the UK’s favour, the services trade is also growing. This year, Prime Minister Gordon Brown and his counterpart in China Wen Jaibao set a formal target of $60 billion in bilateral trade by 2010 at the UK-China Summit in January.

UK Ambassador, Sir William Ehrman said, “As patron of the 2008 British Business Awards, I believe we have shown the vitality of British business, and the variety of companies that have been selected reflects the breadth and depth of British commercial expertise on offer in China.”

Many UK-China links has been strengthened in 2008. In January, Prime Minister Gordon Brown with a delegation of senior British figures visited Beijing and Shanghai. All of them have attended the UK-China Business Summit in the Great Hall of the People in Beijing. What is more, British business donated $20 million in cash and kind in response to the tragic earthquake in Sichuan immediately. The UK companies also offered expertise to assist in the reconstruction effort.

Many UK companies made contributions to the building of Olympic infrastructure and the committee of London 2010 is learning practice from China in terms of infrastructure, traffic management and security.

The business especially the softer part of the British community involvement in China is celebrated in the Awards. The Corporate Social Responsibility Award highlighted many British companies that make contributions to their adopted community. The British Council set up the Alumnus of the Year to recognize the number of graduates who came back to China and build on their educational and cultural links with the UK.

Are you interested in the business opportunities in China?

China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.

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