Senior Executives Roundtable for Chinese Businesses in the UK: communication, transparency and trust

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Front row, left to right: John McLean, IoD City; Huang Hongyong, Counsellor, Chinese Embassy; The Lord Mayor of the City of London, The Rt Hon Charles Bowman; The Rt Hon. The Lord Mandelson, President of GBCC; Peter Estlin, Alderman, City of London; and Sun Yu, chairperson, China Chamber of Commerce in the UK and CEO, Bank of China UK

On Tuesday 24 July 2018, the Great Britain China Centre, the China Chamber of Commerce in the UK and the Institute of Directors held a roundtable for senior executives of Chinese companies in the UK, hosted by the Lord Mayor of the City of London, The Rt Hon Charles Bowman, at his official residence Mansion House. Leaders of the largest Chinese companies operating and investing in the UK, and UK participants with experience in UK-China commercial, legal, and policy spheres, engaged in a roundtable discussion on communication, transparency and trust in business.

Participants were welcomed by the Lord Mayor, who emphasised a key theme of his mayoralty, the importance of trust for business. He also stated that “confidence and trust” between Chinese and UK companies would be crucial to the success of projects like the London-Shanghai Stock Connect, which will further integrate British and Chinese financial markets, and the Belt and Road Initiative, China’s flagship infrastructure initiative.

The Rt Hon. The Lord Mandelson, President of the Great Britain China Centre, former European Union Trade Commissioner and former British First Secretary of State, delivered a keynote speech addressing key themes in international politics and trade and how these relate to Chinese companies in the UK and Europe. Lord Mandelson stated that “firms that succeed are those who consult, understand the environment that they operate in, prepare and adapt.”

Speech

Lord Mandelson delivers keynote address

During the roundtable, participants discussed a number of issues of importance to Chinese companies operating in the UK, including communication, institutional and cultural differences between various marketplaces, and different ways to engage in socially responsible corporate practice. The China Chamber of Commerce’s chairperson, Sun Yu, commented that “As China’s economy transforms from ‘speed China’ to ‘quality China’, and as it continues opening up and committing to globalisation, I believe the UK is a natural partner for China, because it is known for good quality products and services, and because London is a global financial centre which has historically done a great job embracing newcomers in the international market”.

At the conclusion of the lively and in-depth session, participants stated that they look forward to building upon the roundtable with follow up discussion and dialogue in the future, enhancing understanding to strengthen UK-China mutual prosperity.

Date posted: 27 July 2018

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