CALL ON MR GOODLAD BY LORD GEDDES, MONDAY 17 MAY, 3.30
UK/China Trade
Points to Make
- Bilateral relations understandably dominated by Hong Kong. But
no reason why difficulties over that issue should adversely
affect other aspects of the relationship, whatever the Chinese
may say. No evidence (except Jardines) of discrimination against
British companies.
- UK industrial capabilities fit well with China's priority
sectors:
transportation, telecommunications, power generation
and agriculture and food processing. Coupled with China's strong
growth and the accelerated pace of reform, good prospects for
British exporters of goods and services.
UK exports to China in 1992 were £430m an increase of 33.5%
over 1991. UK performed less well both in value and in share of
the market when compared to exports by our European competitors.
Imports have grown steadily to £954m in 1992 an increase of 34.9%
over 1991. Recent UK export successes include an order for 8 BAe
146s (£97m), Rolls Royce aeroengines (£300m), the Shajiao C power
station (GEC Alsthom £300m) and a PTA plant (Foster Wheeler
£70m).
Visits
Despite the high-decibel Chinese protests over Hong Kong in the
last quarter, 1992 was a good year for high level contacts. The
Prime Minister met Li Peng in New York and in Rio. Mr Needham
visited twice and again in January 1993. Vice-Premier
Zhu Rongji, Foreign Minister Qian Qichen and the Mayor of
Shanghai all visited UK.
- Mr Heseltine will visit China (cancelled last October) in
callgeddes 1405