Li encourages UK firms to invest in China
( 2002-05-30 09:54 ) (8 )

Visiting Chinese leader Li Ruihuan encouraged British businesses to increase co-operation and exchanges with their Chinese counterparts when he addressed a luncheon hosted by the China-Britain Business Council in London on Tuesday.

Li, chairman of the National Committee of the Chinese People's Political Consultative Conference, said the Chinese and British economies were "highly complementary."

He said British businesses could find substantial opportunities in China's market of 1.2 billion consumers and said his country is "currently in need of a large influx of overseas capital, technology and managerial know-how due to its ongoing massive economic construction and the implementation of its western development strategy."

Li said that the past 30 years had seen substantial achievements in the relationship between Britain and China and a gratifying momentum in bilateral trade and economic co-operation.

Some 3,110 British-funded projects are now being undertaken in China with a total capital of nearly US$10 billion already invested. This has made Britain the top European investor in China. Britain is China's second-largest trading partner in the European Union, with two-way trade reaching US$10.3 billion last year.

"The UK is very strong in science, technology, financial capital, management and energy, as well as in biotechnology, pharmaceuticals, iron and steel, chemicals, electronics and the IT industry, which can meet the needs of our country," Li said.

Viewing the Sino-British relationship from a strategic and long-term point of view, Li expressed the hope that the two countries would do even more to increase contacts, understanding, consultations and co-operation.

"We are ready to join the UK in a concerted effort to build a better, more prosperous and more harmonious world in the interests of human progress," he said.

Li praised Britain for its contributions to human civilization and progress, saying: "China has always attached importance to the United Kingdom and its role in Europe and the world."

Turning to international affairs, he said: "All countries are all equal members in the world community, and such practices as power politics, the big lording over the small, and the strong bullying the weak must not be allowed."

Li noted that disputes between states should be resolved peacefully through negotiations, and countries should establish and develop friendly relations and co-operation on the basis of the Five Principles of Peaceful Coexistence.

As permanent members of the United Nations Security Council, "China and the UK shoulder major responsibilities and have extensive shared interests in safeguarding world peace and promoting common development," Li said.