China-Britain Business Council to Establish Presence in Fujian
Provides UK companies access to key strategic location in crucial next phase of China's development
BEIJING, Nov. 3, 2015 /PRNewswire/ -- The China-Britain Business Council today announces the signing of a Memorandum of Understanding with the China Council for the Promotion of International Trade (Fujian Sub-council) under which CBBC will establish a presence in the key strategic city of Fuzhou, at the heart of the Fuzhou Pilot Free Trade Zone in Fujian Province.
The MoU was signed between Stephen Phillips, CBBC Chief Executive and Zhang Qiu, Chairman of Fujian CCPIT at the CBBC China Outbound Conference in Beijing today, and in the presence of CBBC Chairman Lord Sassoon and many CBBC Board members.
"I'm delighted that CBBC is working with CCPIT Fujian to develop further the trade and investment links with Fujian, one China's most dynamic coastal provinces," says CBBC Chief Executive Stephen Phillips. "Fujian is central to the Chinese government's economic vision, and is a key province for China's 'One Belt, One Road' initiative. CBBC's new presence in Fuzhou in partnership with CCPIT Fujian will give our 1,000 members a vital stepping stone and expand our reach into one of China's four pilot free trade zones."
The Fuzhou Free Trade Zone, established in March 2015, is one of four pioneering zones - the others being in Guangdong, Shanghai and Tianjin - used as a testbed for government reforms in China's key economic centres. The Fuzhou zone will be a strategic cornerstone of the upcoming 13th Five-Year Plan, which will map out the crucial next stage of China's development and reforms.
Fujian Province was identified in a September 2015 report by CBBC and the Foreign & Commonwealth Office as one of the two core areas of the "One Belt One Road" initiative, the Chinese government's far-reaching new blueprint to increase global trade and investment.
Fujian Province is the starting point of the 21st Century Maritime Silk Road - a vast network of shipping routes envisaged to build and bolster international trade routes from China through to Europe. The CBBC/FCO report identifies diverse opportunities for UK businesses in Fujian Province, whose GDP more than trebled over the last decade.
Under the MoU - the result of CBBC's longstanding engagement in Fujian Province - CBBC will work with CCPIT Fujian to exchange information on the latest economic and commercial conditions and new legislation and commercial regulations. This will put British companies at the forefront of business developments in south-eastern China.
Contact:
China - Lisa Li
T: +86 (0) 10 8525 1111 ext. 363
M: +86 (0) 135 110 59851
E: lisa.li@cbbc.org.cn
UK - David Martin
T: +44 (0) 207 802 2015
M: +44 (0)7960 125 980
E: david.martin@cbbc.org
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