摘要：In a recent interview with SFC, Chris Torrens, Vice Chair of the British Chamber of Commerce in China, highlighted the mutual bene

SFC Correspondent Zheng Qingting, Yang Yulai, Intern Mu Rongxuan in Beijing

In a recent interview with SFC, Chris Torrens, Vice Chair of the British Chamber of Commerce in China, highlighted the mutual benefits of closer China-UK economic and trade ties. He noted that both countries are looking to stimulate their domestic economies through stronger trade and investment links. For the UK, post-Brexit pressures have underscored the need for global partnerships, while China aims to boost business confidence and attract foreign capital.

British companies remain confident about China’s market, with many having a long-standing presence. Torrens pointed out that sectors such as healthcare are especially promising, driven by demographic changes and rising demand for medical services.

Torrens also saw strong potential for UK-China collaboration in digitalization and green development.

As both nations navigate a shifting global landscape, Torrens sees strengthened China-UK ties as key to shared growth and broader international cooperation.

Multinationals on China: How would you assess current China-UK economic relations? What is the importance of deeper economic cooperation?

Chris Torrens: From the UK's perspective, one of the key tasks of the government is to help drive economic growth. There are significant concerns about the cost of living in the UK, so fostering stronger relationships, creating more jobs, and attracting increased investment into the UK are measures that would clearly benefit the economy. I believe the UK's departure from the European Union has added further economic pressure. Consequently, there is a strong willingness to engage in trade and investment to support the UK's economic recovery.

From China's perspective, there is a similar desire to stimulate the domestic economy and to further strengthen both business and foreign investor confidence. Therefore, enhancing trade and encouraging greater investment by UK companies into China—while also welcoming Chinese companies into the UK—should be pursued as a mutually beneficial strategy.

Multinationals on China: China has set a GDP growth target of around 5% for 2025. How do you view this target and China’s medium-to long-term economic outlook?

Chris Torrens:For the world's second-largest economy, it's a strong target that contributes significantly to global economic growth.

This ambition stems from the understanding that China's economy can no longer rely solely on capital investment and exports. The Chinese government is keen to stimulate domestic demand. I believe this goal is achievable, as it was last year, provided that domestic demand continues to grow.

The health of China's economy is likely the single most significant factor affecting our members in China. We all desire a strong Chinese economy, and we believe it's attainable. We look forward to seeing more stimulus measures from the Chinese government over the course of 2025.

Multinationals on China: A survey by the British Chamber of Commerce in China last year showed that 76% of UK companies plan to maintain or increase their presence in China. In your view, what makes China an attractive market for British investors?

Chris Torrens: I think the Chinese economy is very attractive for UK companies. Many UK firms have a long history of operating in China and have witnessed the growth of the local consumer market over the past few decades. So, from that perspective, it remains a highly appealing market. As I mentioned earlier, we hope the Chinese economy continues to grow.

Many British companies are drawn to China. British companies are eager to tap into these consumer markets.

Take the healthcare sector, for example. China's demographic and economic trajectory—particularly among the growing middle class—mirrors those of other middle-income segments globally. These groups are starting to face similar lifestyle-related health issues. From a healthcare standpoint, that creates a very large and attractive market.

At the same time, local partnerships in China offer real value to many UK firms, particularly in R&D, innovation, and access to an affordable yet highly skilled workforce. There are significant advantages for UK companies investing in China, and I believe that’s why we continue to see such strong interest.

Multinationals on China: How do you interpret AstraZeneca's $2.5 billion investment in Beijing to establish its sixth global R&D hub as well as high-standard industrialization projects?

Chris Torrens: At first glance, investing $2.5 billion in a Beijing R&D hub might seem bold. However, this move reflects AstraZeneca's long-term strategic thinking and recognition that China's consumer market is both substantial and enduring. For a leading British healthcare company, expanding in China is a logical step, especially given the country's growing demand for healthcare solutions.

China offers significant advantages in R&D innovation, including access to a well-qualified and affordable workforce. AstraZeneca's investment is a medium- to long-term commitment that leverages these strengths, positioning the company to meet the evolving needs of the Chinese healthcare market.

Multinationals on China: As China continues to advance high-standard opening up, how do you view the updated Negative List for Market Access (2025 Edition)?

Chris Torrens:I believe the number of entities covered was reduced to 106, which is really encouraging. It sends a positive signal to British and other international companies that the Chinese government is looking to further open up the market.

The recent changes to the negative list, although we haven’t yet fully captured them due to how recent they are, would likely be well received by our members. These changes strike a balance between regulating fast-developing sectors and liberalizing others. For example, the removal of categories such as transport, logistics, and freight forwarding from the negative list is very welcome. It helps facilitate the movement of goods across the country, which is important for many industries.

More broadly, this is not just positive for British companies—it also acts as a stimulus for private business in general. And private enterprise is, of course, a powerful driver of economic growth in China.

Multinationals on China: How do you assess China’s progress in developing the digital and green economies? What potential do you see for China-UK cooperation in areas such as AI and low-carbon technologies?

Chris Torrens:I believe both the UK and Chinese governments are aligned on this matter. It's a priority embedded in China's industrial policy and, as highlighted in the presentation, equally emphasized by the UK government. We're particularly proud of our innovation hubs—often referred to as the UK's "Silicon Valley" or "Silicon Fen"—centered around Cambridge University in the Fenlands, as well as Oxford and London. These regions exemplify the UK's strengths in science and technology. We see substantial potential for cross-border collaboration in these areas, which would be mutually beneficial.

Multinationals on China: What is the significance of China’s promotion of institutional openness?

Chris Torrens:China formally applied to join the CPTPP and DEPA back in 2021, and I think that move made a lot of sense at the time—particularly in the case of the CPTPP. From an economic standpoint, China was already a strong trading partner with nearly all of the CPTPP member countries, including those in Southeast Asia and Japan on one side of the Pacific, and Chile, Mexico, and Canada on the other. Given China's extensive trade ties with both Southeast Asia and Latin America, joining the CPTPP aligns well with its commercial interests.

If we fast-forward four years to 2025, the rationale for China joining the CPTPP becomes even stronger—especially in light of the U.S. government stepping back from some global economic initiatives. So I think it's a good step by China to join more of these global agreements. I think it helps to put into context China's very well meaning economic intentions.

As for DEPA—the Digital Economy Partnership Agreement—it was originally launched by New Zealand, Singapore, and Chile, with South Korea and Costa Rica also joining. Again, China has established partnerships with nearly all of these countries and is a global leader in digital services. Digitalization is also a key part of China’s industrial policy. So from an e-commerce and digital trade perspective, joining DEPA makes absolute sense. So I would agree with China's move to do that. I hope accession can be achieved as soon as possible.

Chief Producer: Yu Xiaona

Supervising Producer: Shi Shi

Editor: Li Yinong

Reporter: Zheng Qingting, Yang Yulai, Intern Mu Rongxuan

Video Editor: Li Qun

New Media Coordination: Ding Qingyun, Zeng Tingfang, Lai Xi, Huang Daxun

Overseas Operations Supervising Producer: Huang Yanshu

Overseas Content Coordinator: Huang Zihao

Overseas Operations Editors: Zhuang Huan, Wu Wanjie, Long Lihua, Zhang Weitao

Produced by: Southern Finance Omnimedia Group

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