7th World Chinese Economic Summit
Chinese President Xi Jinping is scheduled to visit the United Kingdom for a State Visit in the last quarter of 2015. The 7th WCES coming soon after the Presidential visit to the UK will enable UK and European businesses to assess the impact of the President's visit and how it can contribute to a further strengthening of the bilateral relationship, as well as promoting new business opportunities for companies in the UK and Europe.
For the last two thousand years the Silk Road has connected the Chinese and Western civilizations that lay at opposite ends of the Euro-Asian continental landmass; and has promoted cultural exchange between the Han and the Western regions.
During the Tang dynasty (618 - 907), the Silk Road was at its peak; it was also the time when the Maritime Silk Road began to thrive. The Maritime Silk Road - a sea route beginning at the ports of Guangzhou and heading out to the South China Sea and through the Straits of Malacca, before crossing the Indian Ocean and reaching Baghdad, was once the maritime hub for Chinese and Western economic and cultural exchange.
During the Ming Dynasty (1368 - 1644), Admiral Zheng He led an expeditionary voyage with the route planned according to the Maritime Silk Road. Besides promoting and expanding trade, Admiral Zheng He had also been voyaging to promote Chinese civilization at least a hundred years before Ferdinand Magellan and Christopher Columbus of the Western expedition sailed to the East.
China’s proposed One Belt, One Road initiative includes connecting the Silk Road Economic Belt with the 21st Century Maritime Silk Road. This is an opportunity for countries in Europe and Asia to promote mutually beneficial interactive collaboration and resource sharing. Bilateral trade between the European Union (EU) and ASEAN reached USD248bilion in 2014 and EU accounted for nearly 10% of ASEAN’s total trade and 21.3% of ASEAN’s foreign direct investments (FDI). Both ASEAN and EU should seize the opportunity here to benefit in terms of economic, technological and cultural growth.
The European Union is currently experiencing economic recovery after a sustained downturn, while ASEAN growth continues to be strong. Both regions, however, will need to deepen their economic collaboration with China in the future. ASEAN is determined to realise the goal of full integration by the end of 2015, and conversely, there is an external push to accelerate ASEAN integration through the One Belt, One Road initiative.
China and EU relations have been developing rapidly with bilateral trade averaging EUR1 billion per day. The EU is currently the biggest trading partner of China, while China is the second largest trading partner for the EU. A European Commission report also found that exports to China in 2011 had created 3 million jobs in the EU. Since 2012, China’s annual investment in European countries has exceeded European investment in China. The strong relationship between the two also helped to steer Europe out of the Global Financial Crisis.
In 2015, China announced plans to build the Asia Infrastructure Investment Bank (AIIB), with this proposal supported by many European nations. At the same time, China’s One Belt, One Road initiative has planned to build large energy and communications infrastructure across Central, West, and Southern Asia, before reaching Europe. The One Belt, One Road implementation will benefit European countries greatly - both in terms of trade, as well as total economic growth.
The 7th World Chinese Economic Summit in London with the theme “China and the World: Forging the Euro-Asian Partnerships towards Shared Prosperity” is to be attended by at least 400 participants from over 25 countries, bringing together governments, policy-makers, captains of industry, entrepreneurs, researchers and thought-leaders. This is a strategic platform for networking and discussion on China’s economic rise and the impact of this on the rest of the world. The role China plays in economic development around the world, and the opportunity brought by the One Belt, One Road initiative will also be a key focus of the forum.
We must be present and active at the beginning of this power shift to capitalise on the opportunities and to complete Euro-Asian integration through the opening of channels of trade and economic activity along the 21st Century Silk Road.
Alongside with the summit, a Business Matchmaking Lounge will cater for participants to meet face-to-face with business and academic contacts from different countries with the purpose of generating relationships and businesses; promoting commercial, economic exchanges and collaborative alliances.
WHO SHOULD ATTEND?
Entrepreneurs and Investors ; Company Directors and Corporate Managers ; Business & Investment Finance Consultants ; Finance Directors & CFO’s ; Economists ; Government Investment Promotion Agencies ; Bankers & Financiers ; Investment Managers & Private Equity Managers ; Property Developers