By Claire West

British firms keen to seek their fortune in the Far East will today attend an event at The IET: Savoy Place, in London, to hear for themselves how exporting to China, the second largest economy in the world, can transform their business.

China Revealed, a UK Trade & Investment (UKTI) bilateral trade event, in partnership with the London Development Agency (LDA) and the China-Britain Business Council (CBBC), will unveil the findings of two new reports. The first will identify the commercial potential in Chinese regional cities, with particular emphasis on the creative industries, financial and ICT sectors. The second addresses the multi-sectoral opportunities available in Shandong Province, where a cluster of rapidly-developing cities are offering opportunities for UK companies.

Vince Cable, The Secretary of State for Business, Innovation and Skills said:

“China is now the second largest economy in the world. There is enormous investment being made throughout the country and this is creating big commercial opportunities for British companies of all sizes that want to expand their businesses and operate on a global platform.

“This event is especially important as it places the spotlight on the many business opportunities that exist across China, not just in the major cities, but also in the rapidly-developing regional cities.”

The Mayor of London Boris Johnson said:

“For centuries London’s economic success was built on exports, and China is now primed to supply the city with a valuable new customer base for years to come.

“Increasing export trade is essential for the continued success of London’s businesses as they navigate their way out of the economic downturn. Companies of all sizes must seek every opportunity to sell their goods and services on the world stage, and to explore emerging markets.

“With London Week kicking off at the Shanghai World Expo today, there has never been a better time for the city’s business leaders to look to China for new prospects to transform their firms.”

Susan Haird, Deputy Chief Executive of UKTI, will chair panel discussions with a series of experts who will provide a real insight into the merits of trading in and with China. Panel members will include Minister Counsellor Zhou Xiaoming from the Chinese Embassy in the UK, Anthony Browne, the Mayor’s Economic Advisor and Sir David Brewer, CBBC Chairman and former Lord Mayor of London.

China Revealed coincides with the start of London Week at Shanghai World Expo 2010. The programme of activities, organised by the LDA, will bring together representatives from London and Shanghai who, in line with the Expo’s theme of “Better City, Better Life”, will share best practice and explore how low carbon initiatives and sustainable design and development can help improve life for residents.

The benefits of doing business in London will also be discussed along with the increasing opportunities that are being created as the city prepares to host the 2012 Olympic and Paralympic Games.

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