The UK's trade and financial realms are eyeing closer exchanges with China after a reception to celebrate marking the 74th anniversary of the founding of the People's Republic of China.

Yang Xiaoguang, chargé d'affaires of the Chinese Embassy in the UK, delivered a speech on behalf of Ambassador Zheng Zeguang. In his speech, Yang talked about resilient economic recovery seen in China's GDP as is driven by innovation in sectors including new energy, 5G and photovoltaic industries.

He vowed that China will maintain its high-level opening up to the world, so as to share the development opportunities with other nations.

Yang's speech was echoed by Dominic Johnson, minister of business and trade of the UK, who also voiced a strong confidence in China-UK investment and cooperation, saying that "we can only succeed as one planet."

The event was attended by around 500 people, with representatives from both countries. Attendees said the event was a positive sign of cooperation between Beijing and London.

"This is the 52nd National Day reception I've attended, and it is my impression that this was the happiest and best one that I've been to," said Stephen Perry, chairman of the 48 Group Club. "The British minister spoke with great clarity about the importance of not just trade but investment, which involves a much greater understanding of each other's culture, traditions and ways of doing things."

He said that China is a significant trade and business partner of the UK.

"It is vital to Britain, which is a trading nation, to be big in Asia," said Perry. "If we want to be successful, we will have to have a big and positive relationship with China."

John Orchard, CEO of the Official Monetary and Financial Institutions Forum, said that he has noticed "a new note of warmth and pragmatism in relations between the UK and China."

"There is a clear focus on the reciprocal benefits of trading with one another," said Orchard. "All the key issues in the world will require Chinese involvement. If the world wishes to address sustainability issues, climate issues, it is absurd not to have China as the second largest economy in the world in the conversation."

David Valentine, former chief of Angus Council, also talked about the importance of maintaining cooperation.

"The most important thing is engagement. We must keep talking, we must be honest with each other," he said. "Most of all, we need to work together because China has changed remarkably. It's been an economic miracle."

The China proposed Belt and Road Initiative is marking its 10th anniversary this year, and positive comments have been made by the attendees about the initiative as well.

"China is the world leader already in electric vehicles and electric vehicle technology, and the sustainability agenda is finding its way down the Belt and Road program," said Orchard. "This year is the 700th anniversary of Marco Polo. It reminds us that whatever era, whatever age it is, the importance of business links between the regions of the world are incredibly important."

China's National Day holiday is only one day before the traditional Mid-Autumn Festival, which falls on the 15th day of the eighth lunar month every year. The reception has also presented the guests with traditional snack of mooncakes while books and creative productions also featured to showcase Chinese culture, as well performances of Chinese dances and acrobatics.

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Video editor: Li Ningning