China’s overcapacity presents ‘opportunity’ for British service firms as businesses go global
- The British Chamber of Commerce in China has said China’s industrial overcapacity could create space for partnership for the chamber’s member firms
- Annual position paper takes pulse of British firms, finds outlook on business environment improved but sentiment remains ‘pessimistic’ overall
British firms in China are less worried than their Western peers about excess capacity from the Asian manufacturing giant, instead seeing space for partnership as Chinese companies venture overseas, said a business advocacy group on Wednesday.
“There might be an opportunity for the UK to carve out a path that is a little different to other countries and regions in the world we’ve seen with overcapacity,” said Julian Fisher, chair of the British Chamber of Commerce in China, at a press conference for the release of the chamber’s sixth annual position paper.
In recent months, multiple countries have escalated their responses to a surfeit of Chinese imports in the new energy sector, which they claim has distorted their markets and disrupted domestic manufacturing.
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