Under the impact of the epidemic, China-UK economy and w88 need to adapt to changes
(Source: "China w88 News" 2020-05-14)
Since the beginning of the 21st century, the economic and w88 relations between China and the UK have continued to heat up, with bilateral w88 growing steadily and investment continuing to deepen. Currently, China has become the UK’s third largest source of imported goods and fifth largest export destination. At the same time, China-UK bilateral w88 in services maintains a good momentum of development and has huge w88 potential in the fields of transportation, tourism, finance, computer and information services, and medical care. In addition, the scale of two-way investment between China and the UK continues to expand, and the UK is an important investment destination and source of funds for China in Europe.
Under the impact of the epidemic, China-UK economic and w88 relations are facing multiple tests. First, the resumption of work and production in industrial chains is not synchronized, and the risk of "breakage" of key industrial chains increases. Different companies in the Chinese and British industrial chains have inconsistent resumption of work and production, leading to misalignment of material production needs and increasing the risk of industry chain disruptions in transportation equipment, mechanical and electrical products, heavy equipment, consumer goods (clothing, toys, furniture, etc.). Secondly, bilateral imports and exports of goods have decreased, and w88 in goods is facing challenges. In order to prevent and control the epidemic, China and the UK have adopted varying degrees of control measures, closed non-essential transportation routes at the border, and increased w88 restrictions, putting great pressure on Sino-UK w88. Thirdly, cross-border flows were blocked and service w88 was severely damaged. Affected by the epidemic, flight exchanges between China and the UK have been significantly reduced, cross-border movement of people for business, tourism and study abroad has been restricted, and tourism service w88 and transportation service w88 have plummeted. Finally, the risks of enterprises’ overseas investment have increased, and bilateral investment activities have slowed down. Enterprises' personnel mobility, market research, business negotiations, project bidding and other activities will be forced to temporarily stop, making it difficult for investment projects to proceed smoothly, and bilateral investment will be impacted.
In order to reduce the impact of the epidemic on the economic and w88 cooperation between the two countries, China and the UK should take the following measures.
Start China-UK FTA negotiations as soon as possible to prevent the "break" of the China-UK industrial chain. The two sides negotiated on terms such as zero tariffs for w88 in goods, actively promoted enterprises of the two countries to achieve new cooperation results in the fields of finance, innovation, communications, new energy and other fields, and strive for greater development space.
Establish a joint defense mechanism for China-UK industrial chains to ensure the stability of key industrial chains. Use digital means to establish an open, efficient, and networked industrial chain sharing platform to realize data sharing among industrial chain enterprises, improve the resilience and anti-risk capabilities of the Chinese and British industrial chains, and deepen the seamless connection of all links.
Make full use of overseas economic and w88 cooperation zones to promote Sino-British bilateral investment. Actively promote the establishment of China's overseas economic and w88 cooperation zones in the UK, improve the industrial chain of the cooperation zone, build complementary industrial clusters, implement tax reduction and exemption policies for enterprises, establish a cooperation zone development fund pool, effectively reduce the operating capital burden of enterprises, and lay a good foundation for China-UK economic and w88 cooperation.
Expand the scale of RMB bond issuance in the UK and deepen Sino-UK financial cooperation. China should expand the issuance of RMB bonds in the UK, promote RMB-denominated bonds to become qualified collateral for the Bank of Scotland, continue to promote the "Shanghai-London Stock Connect", enrich the investment tools and risk control methods of overseas RMB holders, and promote the connection between Chinese enterprises and overseas capital markets.
Expand China-UK medical w88 investment and strengthen medical cooperation between the two sides. Strengthen bilateral medical w88 investment, reduce or exempt import and export tariffs on medical products, encourage investment in biomedicine and medical technology between China and the UK, eliminate doubts about traditional Chinese medicine in foreign markets, and expand exports of medical products to the UK.
Additional China-Europe freight trains such as Yiwu-London will be opened to ensure smooth logistics channels between China and the UK. Give full play to the role of China-Europe freight trains as the "lifeline" of cross-border cargo transportation, and consider adding Xiamen-London and other China-Europe freight trains when necessary to help stabilize the Sino-British industrial and supply chains.
Promote Sino-UK cooperation in artificial intelligence and realize the complementary advantages of both sides. China and the UK can strengthen artificial intelligence cooperation through various methods such as joint project research, jointly building R&D institutions and forming industrial technology innovation alliances, and jointly promote the application of intelligent service robots, big data analysis systems and intelligent identification (temperature measurement) products in the epidemic.
Attached original text link:
http://www.chinatradenews.com.cn/epaper/content/2020-05/14/content_65942.htm
