An international bid to increase inward investment from Chinese companies has been launched by Birmingham City Council.
The council also hopes its new China Birmingham Business Forum, which has the backing of the Chinese government, will help local firms increase export orders.
The forum will represent local business opportunities in China, provide advice, support and training.
The China Britain Business Council,
a national body promoting Anglo-Chinese trade, will be another key partner in the forum.
Birmingham is still one of the biggest manufacturing areas in the country and the industry still contributes significantly to the Gross Domestic Product: Britain is sixth in the world for factory output.
China is a key market for British firms and its economy has grown by an annual rate of 11.1% in the first three months of this year.
The initiative has resulted directly from work undertaken by the council to secure the restart of car manufacturing at the Longbridge MG plant by the Nanjing Automotive Corporation (NAC).
Mike Whitby, leader of Birmingham City Council and Chairman of the new Forum, said, ‘Now is the time to start building upon Birmingham’s existing work in China.
‘Justifying our position as a global city with a local heart, the Forum will ensure that Birmingham and the wider region benefits from the booming Chinese market through investment, inward investment and export opportunities. This will reinforce our position as a dynamic and outward-looking city.’
Madame Fu Ying, China’s ambassador
to the UK, predicted the initiative would deliver results, ‘The launch of the forum is an excellent platform for the cooperation between enterprises.
‘I trust that the forum will play a positive role in facilitating information-sharing and promote trade and economic cooperation between our two countries to a higher level.’
Two ways to improve local authority finances
The NAO has concluded insufficient action has been taken to address weaknesses in council finances. Teams from TLT LLP consider what councils should do next.
