On September 12, Exploring the Chinese Market seminar was held by Edinburgh Chamber of Commerce at Double-Tree Hilton. Chinese Consul General Pan Xinchun attended and delivered a keynote speech on the development of Chinese economy.
Consul General Pan said the Chinese Economy achieved steady and sound growth in the first half of this year, with a 6.8 percent growth and 4.8 percent unemployment rate. Working population grew to 430 million, CPI and industrial profits increased by 2 and 17.2 percent respectively. Over the past four years, Chinese economy has grown by 7.2% on the average annually, contributing over 30% of global growth. Chinese economy is well poised to keep the momentum of stable growth in the second half year. According to predictions made by IMF and World Bank, the growth rate of Chinese economy will be about 6.6 percent.
Consul General Pan said that despite China-US trade friction causing international concerns about the outlook for Chinese economy, China is confident with its future economic growth. He quoted statistics to illustrate that Chinese finance has been operating within a reasonable range. Positive factors like vast consumer market and fast-growing domestic companies will continue to invigorate the Chinese market. Cooperation between Chinese and overseas companies will be upgraded and better-quality economic development be achieved as China is deepening opening up and improving industry, policy and legal environment. He stressed that experience accumulated from 4 decades opening up and reform, successfully addressing Asian and world financial crisis equipped China with confidence and capabilities to maintain strong economic growth.
Consul General Pan highly appreciated the latest China Engagement Strategy published by the Scottish government in June, and the fruitful cooperation in trade and investment between China and Scotland. He expects Scottish business to seize opportunities and participate in the Belt and Road Initiative so as to strengthen and facilitate the cooperation between the two sides in trade, investment, environment, education, technology and innovation, adding new impetus to the friendly relationship.
The audience was also addressed by Chief Executive of Edinburgh Chamber of Commerce, Liz Mcareavey, Director of China-Britain Business Council, James Brodie and Chair of China Ready, Rob Lang. They all spoke highly of China's development and achievements made in terms of China-Scotland collaborations, encouraging and supporting members of Edinburgh Chamber of Commerce to explore Chinese market for win-win outcomes.