'We can turn crisis into opportunity,' China tells UK business leaders
Juliet Mann from London
02:16

As the UK is cautiously getting back to work, with social distancing and remote working still very much in place, businesses have a keen eye on China and other countries further along the restart stage.

China's Ambassador to the UK, Liu Xiaoming was the guest speaker at a webinar hosted by the Confederation of British Industry, which looked at the impact the pandemic has had on international trade and how businesses are restarting their activities.

He said while the Coronavirus crisis has caused enormous economic upheaval, it has created opportunities. He sees a trend for new digital business segments, which the Chinese government is supporting with policies geared towards small and medium-sized firms, including loan credits.

The Confederation of British Industry (CBI) agreed that clear decisions on tariffs and travel between China and the UK were "crucial to restarting the economy." /Tim Grist Photography / Getty Creative / VCG

The Confederation of British Industry (CBI) agreed that clear decisions on tariffs and travel between China and the UK were "crucial to restarting the economy." /Tim Grist Photography / Getty Creative / VCG

Ambassador Liu said while China is restoring confidence at home, it is also doing the same with trading partners abroad and he played down trade tensions with the U.S.

"We have every reason to have good relations with the U.S.. As the largest economy and the second-largest economy, with great significance on the world, I always believe China and the U.S. will gain from cooperation and lose from confrontation. We want to build a relationship based on mutual respect - but you need two to tango," he said.

The Ambassador said China's strict prevention and control measures in offices and factories remain crucial to getting economies around the world back on track - including temperature checks, staggered office hours, and a requirement to wear face masks.

He said there are, of course, significant practical concerns about global demand and supply chains, but business leaders need to keep talking about it.

"The important thing is we have to remain committed to free trade, make sure the U.K. is still a business-friendly country to Chinese businesses. Some politicians are spreading the argument for decoupling and some go as far as Cold War rhetoric against China. That is very harmful. But I do not believe these words represent the U.K. government position. I don't believe it is the broad consensus from the business community," he said.

"Business people of key sectors, logistics, technical business, financial services, we have a special category of visas… we hope the British Government will reciprocate with Chinese businesses when they decide to come back," said Chinese Ambassador to the UK Liu Xiaoming. / AFP

"Business people of key sectors, logistics, technical business, financial services, we have a special category of visas… we hope the British Government will reciprocate with Chinese businesses when they decide to come back," said Chinese Ambassador to the UK Liu Xiaoming. / AFP

Ambassador Liu also talked about business travel made possible with special health visas and a fast-track green channel.

"Business people of key sectors, logistics, technical business, financial services, we have a special category of visas… we hope the government will reciprocate with Chinese businesses when they decide to come back," he said.

The Confederation of British Industry agreed that clear decisions on tariffs and travel are crucial to restarting the economy.

"We are a services economy with many people traveling in and out, repairing equipment, on short terms contracts and it is clear we need a sensible regime on air travel," said Dame Carolyn Fairbairn, director-general of the CBI.

"We are watching what the government comes up with. One interesting idea is around air bridges, as they are doing in China, with countries we are comfortable having a reciprocal relationship with."

The business community is considering how to mitigate the impact the coronavirus is having on a day-to-day basis. One way to do that is to keep talking to partners and potential collaborators. The conversation about trade is an important one that we will no doubt hear more about in weeks to come.

Check out The Pandemic Playbook, CGTN Europe's major investigation into the lessons learned from COVID-19