China-Britain Economic Cooperation Has Great Potential

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Last updated at: (Beijing Time) Monday, July 21, 2003

China-Britain Economic Cooperation Has Great Potential

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The Chinese side is satisfied with the current China-Britain economic and trade exchanges, but still hopes both sides will tap larger potentials, said Chinese Vice Minister of Commerce Ma Xiuhong Monday.

Ma made the remark in a meeting with British Minister of State for International Trade Mike O'Brien, noting that the China-Britain trade volume last year exceeded 10 billion US dollars for the first time and mutual investment also witnessed rapid growth.

Chinese investment in Britain is still quite limited, she said,noting that the Chinese government is encouraging more Chinese enterprises to invest on foreign land.

Only 2.6 percent of British imports comes from China, and British investment in China only accounts for 0.3 percent of its total investment outside, she said, expressing hope that the two governments will join hands to boost trade and investment cooperation.

O'Brien said more and more British entrepreneurs are showing a strong interest in business opportunities in China, expressing confidence about the prospect of bilateral cooperation in trade, telecommunications, transportation and energy.

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