"The scale and potential of the Chinese market are worth long-term investment"

Our reporter Xu Liqun

From the ancient city walls of Xi’an to the Innovation Works in Shenzhen, from Shanghai’s financial center to Guangzhou’s trade hub, the President of the UK-China Trade Association, Peter Bai, recently led a delegation of 35 British companies to China for an inspection. Over two weeks, they visited six cities: Xi’an, Beijing, Shanghai, Guangzhou, Shenzhen, and Hong Kong. “This is a journey of rediscovering China.” Speaking of this trip, Bai Peter couldn’t hide his excitement. Having traveled back and forth between China and the UK for many years, he has witnessed China’s economic leap over decades. This time, he saw a different landscape.

Bai Peter told reporters that the modernization level of Xi’an Xianyang International Airport, the well-developed highways to the city center, and the constantly emerging new building complexes along the way broke the traditional impression of western Chinese cities held by the delegation members. During their stay in Xi’an, the delegation visited the Shaanxi History Museum and the under-construction Xi’an Taikoo Li project. The former allowed British entrepreneurs to experience the depth of China’s millennia-old civilization firsthand, while the latter showcased how modern commerce can coexist harmoniously with historical and cultural landmarks.

The British companies in this delegation come from various fields including financial services, professional services, consumer goods, education technology, and green energy. When asked whether any companies reached cooperation intentions during this trip, Bai Peter humorously said, “Business cooperation is like dating; it’s hard to get engaged immediately after the first meeting. But this visit has made many ‘heart-pounding’ moments possible.” He revealed that more than a dozen projects are in deep negotiation stages. “I’ve noticed a shift in Chinese companies’ internationalization mindset, hoping to establish long-term partnerships with UK organizations, such as setting up joint ventures in the UK, co-developing R&D centers, and sharing market channels.”

Bai Peter stated that the UK-China Trade Association conducted a study comparing China’s 14th Five-Year Plan with the UK’s modern industrial strategy. “The results are surprising—over 50% overlap.” He explained, “The UK’s traditional strengths in professional services, creative industries, sports, and engineering align well with China’s key development directions.”

He also emphasized the consensus between the two countries on green development: “Although the specific paths may differ, the goal of achieving ‘net-zero emissions’ is completely aligned. China’s manufacturing advantages in new energy, combined with the UK’s experience in green finance and carbon trading mechanisms, can complement each other.”

Bai Peter said, “British companies that achieve long-term success in the Chinese market share a common trait—they do not see China as a place for short-term profits but are willing to navigate economic cycles and grow together with the Chinese market.” He added that some UK companies in China are increasing investments in digital transformation and local R&D because “they understand that the scale and potential of the Chinese market are worth long-term investment.”

“If you want to truly understand China, you can’t just read articles or reports; you must go to China, visit various cities, and communicate with the people there,” Bai Peter emphasized. “Since its establishment, the UK-China Trade Association has been an important bridge promoting economic and trade exchanges and people-to-people interactions between the two countries. The economic and financial dialogues, strategic dialogues, and other mechanisms between China and the UK have been reactivated. Communication channels are smoother, and the foundation for cooperation is more solid.” Looking to the future, Bai Peter is full of confidence.

People’s Daily (March 22, 2026, Page 3)