China’s economy has been a hot topic lately. Some people talk it up. Others talk it down. Despite the different opinions, I would like to point out that the Chinese economy remains robust. China’s economy grew by 6.6% in 2018. This is not only within the anticipated range. It is also one of the fastest among major economies and contributed nearly 30% of global growth. China’s overall GDP has exceeded $13.6 trillion, with the increment equaling the total GDP of a middle-income country. What is more important, China’s economy has grown not only in quantity but also in quality. In 2018, new industries, new products and new business models have emerged; consumption contributed 76.2% of economic growth; and on-line retail sales increased by more than 20%. China is shifting from high-speed growth to high-quality growth. This will create more opportunities for other countries in the world, including the UK.

While we are encouraged by these opportunities, we are fully aware of the challenges that lie ahead in China-UK relations. The first and foremost challenge is Brexit. When I ask my British friends about the prospects of Brexit, I would most probably get this answer: It’s hard to tell. To borrow from a popular Chinese TV commercial, “anything is possible.” Both the UK and the EU are important trading partners of China. We hope that the UK and the EU will reach a mutually-beneficial agreement. What I would like to stress here is this: No matter how Brexit will evolve and where it will end, China will remain committed to the China-UK “Golden Era”.