British businesses are being urged not to “panic” over the recent economic crisis in China and take advantage of ever increasing opportunities to do business there.Yintong Betser, managing director of the Active Anglo Chinese Communications company, which promotes communications between British and Chinese firms and assists with planning cultural events, Chinese visits, market research and finding business partners, said more Chinese companies than ever before were looking to do business with the UK. “Don’t panic about the Chinese slowdown. It is only natural after such high growth but there is a lot of business still going on. Don’t worry about it,” she said “State owned businesses have lost momentum but private enterprises are growing fast in China. They are taking a breath now after their rapid development and thinking clearly about how to take their businesses up another level. “For example they are looking at adding new services to their product portfolio. But for that to happen they need expert help and they want to engage with British firms to help them.” She said the recent devaluation of the yuan was also good for British and Western companies. It will make exporting to the country easier and more attractive. “There is still a lot of wealth in China and people and businesses are still looking to invest overseas and to work with UK firms,” she said. “The Chinese government is also making it easier for businesses there to collaborate with British firms such as the creation of new free trade zones and the Asian Infrastructure Investment Bank.” She said Chinese companies were also becoming more “proactive” in marketing their cities, culture, businesses and skills overseas. As part of this the AACC has organised an event alongside the Shanghai Fashion Week Organising Committee to be held on 16 September in London promoting the fashion and creative industries of Shanghai in front of British firms.
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