Qingdao unites with the United Kingdom
China's Ministry of Commerce and UK Trade & Investment jointly held a China-United Kingdom local investment and trade cooperation forum in Birmingham on Feb 26.
Sajid Javid, secretary of state for Business, Innovation and Skills and president of the Board of Trade, and Gao Hucheng, China's commerce minister, gave keynote speeches at the forum. Led by Liu Mingjun, vice-mayor of Qingdao, delegates of more than 10 enterprises from Qingdao, including Haier Group, Hisense Group and Tsingtao Beer Group, attended the forum.
Qingdao actively cooperates with partners from the UK in trade, environmental protection, energy saving, cultural industry and finance. That is why the Commerce Ministry made it one of the first batch of partner cities in Sino-UK local cooperation in trade and investment.
Liu Mingjun said that Qingdao has attracted 228 projects from the UK. Last year, the trade volume between the two amounted to about $1.6 billion. The UK is Europe's largest investor in Qingdao.
According to Liu, Qingdao looks forward to deepening its cooperation with the UK in high-end business affairs, environmental protection, cultural industry, marine technology, consultation, exhibitions, tourism, education and public health.
Liu said: "Qingdao is China's important industrial and port city. It has the world's seventh-largest port, and 144 air routes to major cities at home and abroad. It is an important city in the new Eurasian land bridge, China's Belt and Road Initiative and China's marine cooperation strategy."
As a national-level wealth management financial pilot zone, Qingdao will invite financial agencies, wealth management organizations, and training organizations from the UK to set up their branches in the city.
The Qingdao government sent a delegation to the UK in early April to transform a series of bilateral cooperation agreements inked by state leaders into concrete projects. In June, Qingdao will organize its enterprises to take part in the 2016 International Fair for Business in Liverpool.
