China as a trading hub has come into its own. China has gown into one of the most important financial centers in the world. The economy of China has grown slowly and steadily. It has developed from a humble unassuming economy to one in which practically every country under the sun would like to participate in. The government of China has always emphasized the importance of foreign trade and commerce. It believes that export and imports help in a significant way in capital generation. Chinese trading ties with UK are well known.
Chinese trading ties with UK have strengthened of late. Jia Qinglin Chairman of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) made a major announcement to the effect that the whole of the world sat up and took notice. It was to the effect that as far as the Chinese trading ties with UK were concerned, it would be strengthened more than before. This was in the beginning of the 21st century. Thereby the world has taken notice of the fact that one of the super- powers wants to maintain important business relations with China.
This is as because China is one of the leading manufacturers and producers of a wide variety of goods. This has facilitated Chinese trading ties with UK.
Trading ties between UK and China have evolved to such a point that now Britain has gone on to become a major partner. In fact, Britain has gone on to become China's third largest trading partner in the European Union. Trading connections between UK and China are at very encouraging stages. It has entered such a point that the United Kingdoms has gone on to become one of the major European Union investors in the financial markets of China. It has been estimated that the China-UK trade reached 24.5 billion U.S. dollars in 2005. This marked a whopping thirty-fold increase over that of 25 years ago.
In fact the financial ministry of China believes that whatever has been achieved is only the tip of the ice- berg as far as the Trading relations between UK and China goes. An entire area can still be discovered and developed. There is yet a lot of scope remaining for business fields yet to be discovered and developed more between UK and China.
In fact the striking reality remains that even thought there was a frenetic trade being carried on between China and the UK, the fact remains that, the extent achieved by this trade accounts for not less than 2% of China's foreign trade and and even less for that of the UK. In UK it can barely gross a 3%. There is a ray of hope which can be glimpsed here. There is an entire section of the trade which can be developed. This between the UK and China. There is a lot of technology export which can take from England to China.
The ministry of China represented by Jia Qinglin laid down a five- point proposal to boos the trade between the two countries. They include upgrading business relations in such fields as high technology, energy, biotechnology, IT and new materials, increasing mutual investment, promoting cooperation between small and medium sized firms, furthering trade liberalization and cooperation in hosting the Olympic Games.
Thus we will soon be hearing and reading a lot on the Trading relations between UK and China.
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