China's Belt and Road Initiative has been hot topic among British and Chinese business leaders attending the "UK-China Economic and Trade Forum" in London. They're keen to find out how to turn the scheme's potential into reality. Zhang He has the story.
Over 200 British and Chinese business leaders gathered in London, seeking to explore new areas for bilateral cooperation. The Belt and Road Initiative was one major focus area. But the big question is -- how should the UK attract and manage Chinese trade and investment after Brexit?
ZHANG HE LONDON "As the UK is set to leave the European Union next year, it is seeking to forge new trade deals with the rest of the world. The Belt and Road initiative may well have a major influence on the shape of post-Brexit Britain."
During a visit to Beijing last year, UK Chancellor Philip Hammond stressed that the UK can be a natural partner in delivering related infrastructure, supporting the necessary finances, design, and delivery.
JINNY YAN CHIEF CHINA ECONOMIST, ICBC STANDARD BANK "UK will continue to be very focused in terms of Belt and Road. This is why the UK institutions are very interested in the Belt and Road Initiative. If they are successful in terms of engaging relevant initiatives and institutions, then this will boost the economic growth in the longer term. This is one of the key focus point of the UK government because it is in fact going to be a propeller of the growth of UK economy, particularly after Brexit."
The UK is already participating in the Belt and Road Initiative. The government announced it would provide funding of 25 billion pounds to support the initiative early this year, while former Prime Minister David Cameron will lead a 750-million-pound Belt and Road investment fund.
DR GERARD LYONS CHIEF ECONOMIC STRATEGIST, NETWEALTH INVESTMENTS "From a UK prospective, it is not only about seizing these quick wins, it is very important that later aspect as well, building relationship with China for longer term. In terms of the future visits by Prime Minister May and President Xi, we don't necessarily expect a major change overnight. It is about cementing the existing relationship. In terms of trade relationship in the future, it is focusing on China into the UK and it is about UK into China. And on top of that, hopefully UK and China can work together in the third market, for instance the Belt and Road."
Any future collaboration on the Belt and Road initiative will benefit both China and the UK. But in times of change, strong and stable relationships are needed more than ever to see the new Silk Road become a reality. CGTN Zhang He, London.