The UK government is starting preliminary talks with major economies with regards to bilateral trade deals. Business Secretary, Sajid Javid is to launch talks with India, while Osborne met a Chinese government delegation last week. The meeting was said to have been “productive discussions on investment, financial services and fostering stronger trading ties”. This meeting precedes a 4 day trip to China for the Chancellor later this month, which will include a meeting of the G20 Finance ministers.
Our friends at the China-Britain Business Council (CBBC) and UK Trade and Investment (UKTI) have produced a report, Made in China 2025, that offers an analysis of what the Made in China 2025 initiative is, and how UK companies can benefit.
China’s State Council announced Made in China 2025 in May 2015 as a national initiative to improve the manufacturing industry – initially up to 2025 and then on to 2035 and 2049. The goal is to transform China into a leading manufacturing power and the process has already begun – with 50 pilot projects started across China in 2015.
The report focuses on 10 priority sectors for China, highlighting areas of opportunity for UK companies. The sectors include:
- advanced rail and equipment
- aviation and aerospace equipment
- agricultural machinery and technology
- power equipment and technology
- low and new-energy vehicles
- new materials
- high-end manufacturing control equipment and robotics
- biopharmaceuticals and high-end medical equipment
- advanced marine equipment and high-tech vessels
- integrated circuits and new generation information technology
The report is available from the CBBC website, but you’ll have to register first. Download your report here