'New heights' in Sino-British trade and investment(2)

Ren Zhengfei, CEO of Huawei, said the UK is "an open market which welcomes overseas investment" and praised it as a center of innovation with a highly skilled workforce.

Phillips said that Britain leads the world in both innovation and creativity.

"The country's visionary spirit is perhaps best exemplified by the creative industries, ranging from design and architecture - as shown in the winning UK Pavilion at the 2010 Shanghai Expo and the opening ceremony of the 2012 London Olympic Games - to such fields as fashion, online gaming, animation and advertising," he said.

"China's promise in these industries is now beginning to emerge.

"And Britain, as a well-established actor, has a rich mixture of long experience and new ideas in creative and innovative ventures, which we hope we can share with China by way of cooperative partnerships," he said.

London remains the leading financial center in the world, boasting an unrivalled professional services sector underpinned by an internationally admired legal system.

The sheer volume of activity in the city is enough in itself to justify this reputation.

London is also now the largest center in the West for renminbi trading - followed only by Chinese mainland and Hong Kong.

Twenty-eight percent of all international renminbi payments last year were made in London.

CBBC is playing a key part to support the growing tide of Chinese outbound investment.

CBBC's China program has been designed to help guide the growing flow of outbound Chinese investment both towards the UK and just as importantly to position UK companies as partners of choice around the world.

"Our series of CBBC China outbound conferences and seminars, which have recently been held in Shanghai, Chengdu, Chongqing, Xi'an, Shenzhen and Guangzhou, highlight opportunities for British and Chinese investors to cooperate in the UK, China and third countries," Phillips said.

"More seminars will follow across China in 2014."

And there are tremendous opportunities too for UK businesses in China.

British companies and brands have long been reputed around the world for excellence, innovation, design and ambition.

This is well recognized in China.

The rapidly growing new class of ever-more sophisticated Chinese consumers value UK's famous brands and high quality services and sound reputation. Luxury and premium goods, education, the creative industries and financial services are just some of the areas where the 21st century China has discovered a demand, and where the UK finds its niche.

Meanwhile, Chinese consumers enjoy visiting the UK, and the country hopes to build on the estimated 1,600 pounds that the average Chinese tourist now spends during a trip to Britain.

"With 13 offices across China and 10 in the UK, and the work we do in China is to research local markets, identify opportunities and foster cooperation between the two countries. We help British companies seize exciting opportunities that these regional cities offer, " he said.

"Just one such area of opportunity is in what we term as 'Liveable Cities'."

One of the Chinese government's immediate tasks is urbanization, a colossal challenge that may involve the relocation of some 300 million people during the next 30 years.

Large-scale and long-term, this undertaking will lead to openings for China and the UK to profit.

"China's aspiration - a harmonious, urbanized and sustainable society - is something the UK has broadly achieved, and as such we can help China to realize its economic aims," he said.

"Our practical experience and expertise in so many fields related to this objective - from healthcare and welfare systems to elderly care, urban planning and green development-can be of practical use to China's development in both the short and the long term."

CBBC's Liveable Cities program focuses on this demand.

This year, the program's three priority areas have been urban regeneration, green buildings and elderly assisted living, which reflect the direction of China's development.

"We are working to help British businesses take advantage of their expertise to partner up with Chinese companies in these fields.

"Another important area of our work is to recognize that small and medium-sized enterprises are major drivers of economic development and jobs in both of our countries.

"They account for over 99 percent of all businesses in China and 99 percent of the private sector in the UK," Phillips said.

Mutual advancement in this area was bolstered in October by the conclusion of a memorandum of understanding for collaboration among small and medium-sized enterprises.

It was signed by Lord Sassoon, chairman of the China-Britain Business Council, and Qin Zhihui, director general of the ProSME Center of the Ministry of Industry and Information Technology.

"We are, therefore, delighted that the prime minister's delegation will include so many SMEs and that we will provide a wide range of activities for them during the visit and upon their return to the UK.

"We expect the trade and investment relationship to go from strength to strength as our economic, political and cultural ties become closer by the day.

"This is a relationship that matters to both the UK and China, and one in which we see a bright present, and confidently envisage a brighter future, for both countries," he said.