UK and China Alliance set to benefit creative industry
2 min read
30 May 2014
UK and Chinese creative companies will benefit from £2bn worth of trade and investment opportunities.
As part of an eight day visit to China, Business Secretary Vince Cable formally launched the Global Digital Media and Entertainment Alliance, which was agreed upon during the summit between China’s Premier Li Keqiang and Prime Minister David Cameron, at the Technology Innovators Forum (TIF-IN).
Cable reveals that “whether it is television programmes such as Sherlock, great fashion from Vivienne Westwood or innovative technology firms such as Myndplay,” the UK’s £71bn creative sector is in high demand – generating just over a staggering £8 million pounds an hour.
This is a great opportunity for UK businesses given that “our total exports to China reach more than £1bn per month.” This new plan will not only deliver a massive boost to UK creative exports, but position the UK as the favoured location for inward investment, creating more sustainable jobs and building a stronger economy
Previously held in LA and London, the TIF-IN event in China will bring together the most exciting Chinese and British creative technology companies with high profile political, financial and entertainment stars, so far involving over 100 companies and delivered over £75m of business.
UK and Chinese companies present at the event include Tencent, Youku, BBC Worldwide, Pinewood Studios, Xiaomi, Universal Music Group International, ITV Studios and SOHU. Michael G Wilson from EON Productions, producer of the James Bond films and Gareth Neame from Carnival Films, producer of Downton Abbey will also attend.