Deals announced in Shanghai kick start drive for £150 million boost for UK
Partnerships between UK and China in film, TV, healthcare and tourism have been announced at the GREAT Festival of Creativity in Shanghai.
Partnerships between UK and China in film, TV, healthcare and tourism have been announced at the GREAT Festival of Creativity in Shanghai taking place 2 to 4 March 2015.
The festival, launched last night by HRH The Duke of Cambridge, is a unique partnership between the UK government and private sector to create jobs and growth by supporting UK companies looking to break into fast growing Chinese markets. In total, the festival is expected to bring in £150 million to the UK economy over the next 5 years.
Now in its second day, the festival based at the Long Museum, West Bund, is welcoming more than 2,000 leading business men and women, including Sir John Sorrell, Jo Malone, Sir Tim Berners-Lee, Kelly Hoppen, Sir Martin Sorrell, Brent Hoberman, Thomas Heatherwick, Jack Ma and Liang Xinjun.
Lord Livingston, UK Trade Minister, said:
Our creative industries are a highly valued asset to the UK - worth almost £80 billion a year to our economy and employing 1.6 million people. I am delighted to see so many British companies at the GREAT Festival of Creativity in Shanghai.
The festival offers great opportunities to deepen collaboration and partnerships between the UK and China across a range of areas that benefit from our GREAT creativity.
Deals announced today (3 March 2015) include:
Tourism
A partnership of Birmingham Airport, Hainan Airlines and leading Chinese tour operator Caissa Touristic will launch a series of 17 return Beijing-Birmingham flights this summer, creating £19 million for the Birmingham and wider West Midlands economy. These flights form part of a long-term plan aimed at scheduled flights from China to Birmingham.
A collaboration between the British Museum, Chinese broadcaster CCTV and digital media agency Yadii to produce a documentary, The Magic Museum and launch a supporting app - Magic M. These will introduce Chinese audiences to some of the most popular treasures in the British Museum.
Healthcare
Oxford based Phynova has received the first ever market approval for a traditional Chinese medicine from the Medicines and Healthcare Products Regulatory Agency, estimated to be worth £15 million over 5 years.
Film and television
A landmark co-production treaty between the UK and China has been ratified and announced today (3 March 2015) in Shanghai by UK Culture Minister Sajid Javid and Mr Miao Xiaotian, President of the China Film Co-production Corporation.
Providing exciting new opportunities for deeper collaboration and co-operation between both nations’ film industries, the treaty will allow qualifying film co-productions to access domestic benefits, including sources of finance and an easier route to audiences.
The treaty was negotiated by the British Film Institute (BFI) and China’s Film Bureau and China Film Co-production Corporation, with support from the Department for Culture, Media and Sport, British Council and UK Trade and Investment in Beijing.
Secretary of State for Culture, Media and Sport, Rt Hon Sajid Javid MP is to officially announce the new treaty at the Festival on Tuesday morning. He said:
The UK and China are home to 2 of the biggest and best film industries in the world, so both of our countries have much to gain from forging closer links.
This treaty will pave the way for UK producers and their Chinese counterparts to share their creative expertise and make incredible films that will be enjoyed around the world.
BBC Worldwide and Smart English, a wholly-owned subsidiary of Popular Holdings Limited, have announced they have officially started the roll out of their learning centres in China, starting with the first CBeebies-themed English language learning centre in Shanghai in mid-2015.
E-Commerce
Royal Mail announced it is launching a new shop front on Alibaba’s Tmall Global e-marketplace, offering British retailers and exporters quick and easy access to the Chinese market and direct contact with Chinese customers.
Financial Services
Shanghai Asian Brokers Co Ltd, will be one of the first Chinese insurance brokers to set up in the UK, aiming to create 30 new jobs over 3 years. This move reinforces London’s position as a leading global insurance centre.
A memorandum of understanding will be signed between China Council for the Promotion of International Trade and UK Trade and Investment to work together to deliver positive business outcomes at the Milan Expo 2015.
The economy also looks set to further benefit from Chinese tourism, according to a report commissioned by InterContinental Hotels Group (IHG). It says the average spend in the UK by Chinese travellers will rise 425% to £4.2 billion in 2023.
Since 2010 British goods exports to China have more than doubled. The most recent figures, from January to June 2014, show UK exports of goods to China were £6.6 billion, an increase of 9% from the same period in 2013.
In addition, the UK continues to outperform other EU countries, with exports up 18% in the year to September 2014. The UK is now the clear number 2 in Europe in terms of trade with China, behind Germany, the second largest EU investor into China and the leading destination for investment from China.
Notes to Editors:
- The GREAT Festival is being delivered in partnership with private sector organisations including HSBC, BBC Worldwide, Jaguar Land Rover, PWC, IHG, British Airways, De Montfort University, Sanpower, Wanda Group, Royal Mail, BT, Visit Britain and Diageo. It will run in the Long Museum, Shanghai from 2 to 4 March 2015.
- The GREAT Britain campaign is the government’s most ambitious international marketing campaign ever and showcases the very best of what Britain has to offer in order to encourage the world to visit, study and do business with the UK. The campaign focuses on China, India, Brazil, USA, the Gulf, France, Germany, Mexico, Indonesia, South Korea, Turkey and emerging Europe and is also active in over 144 countries worldwide.
- The GREAT Britain campaign has delivered a direct return to the economy of over £1 billion since its launch and is now active in 144 countries. Unifying the international growth promotion efforts of UK Trade and Investment, VisitBritain, British Council, Foreign and Commonwealth Office (FCO) and a number of other departments, GREAT aims to deliver significant and long-term increases in trade, tourism, education and inward investment in support of UK government’s prosperity and growth agenda.
- UK Trade and Investment (UKTI) is the government department that helps UK-based companies succeed in the global economy. It also helps overseas companies bring their high quality investment to the UK’s economy – acknowledged as Europe’s best place from which to succeed in global business. UKTI offers expertise and contacts through its extensive network of specialists in the UK, and in British embassies and other diplomatic offices around the world. It provides companies with the tools they require to be competitive on the world stage.
- Images are available on request. For further information please contact: Beth Thoms and Jennifer Ball, The Communication Group plc: 020 7630 1411. [email protected], [email protected].
- Twitter: @GREATFestivals #GREATFestivals Festival website: GREAT Festival of Creativity in Shanghai