Chinese business leaders urge country to keep thinking global
- Beijing has called for increased focus on ‘domestic circulation’ to boost self-reliance
- Xu Weiping, whose Advanced Business Park is behind a US$2.2bn London development, says political tensions should not derail international cooperation
China should resist anti-globalisation sentiment and promote international cooperation, Chinese business leaders have said.
Beijing has announced a master plan to shift the focus of its economic growth engines towards “domestic circulation”, to become more self-reliant, especially in key technologies.
But Xu Weiping, chairman of Advanced Business Park, which is behind a £1.7 billion (US$2.2 billion) property development in London, said China and Britain should continue to cooperate economically despite growing political tensions.
“There are mutual suspicions between the UK and China, who do not agree on certain issues,” Xu told the South China Morning Post.
“[But] it would definitely be insufficient for China to rely on ‘domestic circulation’ to develop its economy.”
Xu said the post-Brexit era would provide certainty about the direction of the UK economy and confidence in its long term development, Xu said.