Chinese companies have created or supported almost 61,000 jobs in the UK. Of the total, almost 30% of total employees work in the North West and 20% work in London, although that city accounts for 80% of aggregate revenue. The other half work in the UK’s other regions, including the East of England, West Midlands, Scotland, Northern Ireland and Wales. The mid-market (£50 million - £1 billion) is where you find almost 70% of employees, though the sector represents only 10% of companies.
Challenges for Chinese investors
For UK businesses embarking on a new relationship with Chinese investors, it can also be useful to understand some of the challenges they may be facing. These include:
- complex geopolitical dynamics
- high compliance and regulatory costs
- establishing a bilingual workforce
- building trust
- integrating business cultures
- high employment costs
- economic and finance challenges.
Optimism for future
The UK and China can feel confident about the prospects for trade and investment between the two nations in 2022 and beyond, not least because the long-term outlook for life with COVID-19 will become more deep-rooted and certain. Both will be focused on domestic policies, such as "common prosperity" and "dual circulation" in China, and levelling up in the UK, but they also intend to look outward.
Download the report [ 3283 kb ]
For further information or advice, contact Simon Bevan or Ian Zhu.
