On January 31, 2018, British Prime Minister Theresa May visited China with her delegation and took part in a series of important events. 2018 is a new start for China’s opening up to the outside world and the bilateral trade cooperation between China and Britain. According to H.M. Revenue and Customs, the bilateral trade in goods between UK and China was USD39.53 billion, increasing 12.9% from January to June in 2018. The value of British exports to China is USD14.5 billion US dollars, which increase by 33.0% and account for 5.8% of total UK exports. In June, China became the fifth largest UK Export market and the fourth largest source of imports.
The top four commodities that Britain exports to China are precious metal products, transportation equipment, mechanical and electrical products as well as mineral products. From January to June, each month’s export value is were USD3.92 billion, USD3.20 billion, USD1.84 billion and USD1.74 billion, respectively, accounting for 27.0%, 22.0%, 12.7% and 12.0% of total UK export to China.
The first “London renminbi business quarterly report” jointly released by the City of London and the People’s Bank of China’s European representative office on September 26 shows that the second quarter of this year was 69 billion pounds, at the same time, London has become the world’s second largest offshore RMB clearing center.
The first China International Import Expo brought new opportunities for close cooperation between China and the UK, and worked more closely with Chinese partners to explore more Chinese buyers. The UK Pavilion will show the world’s leading companies in the fields of healthcare and life sciences, finance and professional services, education, creative industries, artificial intelligence and big data with innovation as the theme. In addition to the National Pavilion, UK companies including Jaguar Land Rover, British Airways, AstraZeneca, Standard Chartered Bank, etc., also set up booths at the Expo.
We, G.H forwarding, is committed to the development of import business and in-depth study of the spirit of General Secretary Xi Jinping. Currently, world multi-polarization, economic globalization, social information and cultural diversity, which has a close relationship with human destiny, is develop deeply. Peace, development, cooperation and win-win have become the mainstream. The Chinese and British sides have both adapted to the changes of the times, combining the development stages of the two countries and the needs of cooperation to endow the Chinese and British relations with a new era connotation and create an enhanced version of the “Golden Age” together. Under the leadership of British Prime Minister, we believe that UK will continue to keep open after the Brexit so that UK and China can have a expectation of establishing a broader economic and trade relationship and open a new era of cooperation and partner vision.
Our company expects the two sides can build a “globalized Britain” and a “global China” for the benefit of the two countries.
References:
http://www.007wto.com/a/jckzx/20180831/6870.html
http://westdollar.com/sbdm/finance/news/1346,20181003955552155.html
http://jrh.financeun.com/Detail/index/aid/2636.html
Import department contact:
Paggie:
E: paggie@nbguohua.com
M: 13957844931
Lily:
E: cs01@nbguohua.com
M: 13805889863