Historically, many European companies finding their way into the huge market that China offers, here is a brief summary of what companies and the government from UK carried out so far. The bilateral trade volume between China and UK has registered a steady growth in recent years.
UK is the second largest trade partner of China after Germany and among the other EU countries.
Statistics by the Chinese side show that in the year of 2002 the Sino-British trade volume reached US$11.34 billion, 10.6% higher than that of the same period of the previous year.
By March 2003, the bilateral trade volume has totaled US$2.71 billion, 17.9% higher as compared with that of the same period of the previous year. Britain's actual investment in China continues to be the largest among the EU countries. By the end of 2002, the UK has invested in 3406 projects in China, with a contracted amount of US$ 19.6 billion and an implemented input of about US$10.7 billion.
The UK has provided China with four government loans since 1986, totaling 855 million pound (approximately US$1.37 billion). The Sino-British Economic and Trade Joint Committee was established in 1996, and three sessions have been held thereafter.
The China - UK Investment Partnership was established in 2001. In November 2001, the Second Session of the China - UK Financial Dialogue was held in Beijing.
Exchange and Cooperation in Science and Technology
In addition to the Agreement on Scientific and Technological Cooperation between the two governments signed in November 1978, over 20 agreements or memorandums have been signed by relevant departments or institutions of the two countries ever since, covering such areas as basic research, environmental protection, health, agriculture, meteorology, space and aviation.
The Amendment to the Protocol on Scientific and Technological Cooperation between the two Governments was signed in September 1998. When British Prime Minister Tony Blair was on a visit in
China in October 1998, it was announced that the two governments should establish the China - UK Scientific and Technological Research Fund by jointly investing 600,000 pounds.
In November 1999, the Chinese delegation of Science and Technology paid a visit to UK, during which the China - UK Joint Committee on Scientific and Technological Cooperation resumed and minutes was signed, with the aim to propel the exchange and cooperation in the fields of science and technology between the two countries. China-UK High-tech Forum was held in Shanghai in October 2002.
Cecilia Helland
Source
Ministry of Foreign Affairs of China - Visit them
here