CBI member Heathrow Airport Limited announced released its traffic and business commentary for May 2016, reporting China passenger volumes grew 7.5%. East Asia cargo volumes increased by 8.7%, with growth driven by Air China (up 40%), JAL (up 60%), and Vietnam (up 76%).
CBI member The University of Exeter announced that a new double degree programme offered by the University of Exeter and Fudan University will give students access to business and economics expertise from the East and West.
Launching in September 2016, the new programme will allow students to complement their studies with a year on the opposite side of the world, leading to a Master’s degree from each of these prestigious universities. The double degrees in Economics are offered through the University of Exeter’s Business School and Fudan University’s School of Economics.
Students who start the programme in the U.K. will spend their first year at Exeter, studying full-time on an Economics Master’s degree programme offered by the University of Exeter Business School. On completion, they will move to Fudan to undertake a further year of Economics study in Shanghai.
The programme will work in reverse as well, enabling students from Fudan’s School of Economics to join one of Exeter’s Business School Master’s programmes in Economics, Economics and Econometrics, or Financial Economics. These double degree programmes mark a deepening of the relationship between the two institutions.
More than 50 Fudan and Exeter students have participated in exchanges and summer programmes since the two universities signed a mobility agreement in 2012.
CBI member Jaguar Land Rover kicked off its new employee volunteering scheme by joining forces with the British Embassy in Beijing to upgrade features at the New Hope Foundation, a care clinic that has provided medical treatment and palliative care for orphaned children from across China for 13 years.
More than 30 employees from Jaguar Land Rover’s Beijing office and over 120 Embassy staff joined Richard Shore, Acting Regional President for Jaguar Land Rover in Greater China, and British Ambassador to China Barbara Woodward for a day of hard but inspiring work.
In providing a helping hand and supporting the renovations, Jaguar Land Rover was acting upon its Dream Fund commitment towards helping children enjoy healthier and happier lives.
CBI member Gatwick Airport is launching the U.K.’s first ever direct flights to Chongqing – one of the world’s largest urban centres and a major manufacturing and transportation hub in southwest China.
The twice-weekly, year-round flights will then continue to Tianjin, China’s fourth largest city. Starting from 25 June, Chinese carrier Tianjin Airlines will fly the Airbus A330 on the new Gatwick-Chongqing-Tianjin route, the airline’s first long-haul flights outside Asia and one that complements its existing network serving over 100 cities across China.
Both cities are currently not flown to from the U.K. Please read more here.
The first direct Hainan Airlines flight from the NW of England to China recently took off from CBI Member Manchester Airport for Beijing.
The service was launched on 10 June and will provide a four times weekly direct flight between Beijing and Manchester. The economic benefit to the North West of England of this new air route could amount to £250 million over the next decade.
For more information on this exciting new development in UK-China relations please read the following Press Release below:
China chose London for its first ever sovereign Renminbi (RMB) bond issued outside of China, underlining London’s status as the leading western RMB hub and a leading global financial centre.
Issued in London by the Chinese government, the bond is worth RMB 3 billion (approximately £300 million). The issuance cements London’s position as the leading western RMB hub and reinforces the UK’s ever-strengthening economic and financial relationship with China.
On 24-25 May, the Chinese government hosted Women-20 (W20) in Xi’an – a fully-fledged G20 outreach group launched during the Turkish Presidency of the G20 in 2015 to focus on promoting gender-inclusive economic growth.
The W20 harnessed support to increase women’s participation in the global economy and greater prosperity in the world. As reported by McKinsey, realising gender equality could add an extra US$12 billion to global GDP by 2025.
This year marked the launch of Inspiring Women in China, which connects schools and colleges with employers and the world of work. Volunteers, from Apprentices to CEOs, pledge just one hour a year to volunteer to talk to young people about their job and career route.
Started in the U.K. in 2013, the purpose is to raise aspirations and break down gender stereotypes around career choices among young children. Led by the British Council, volunteers are signing up to speak to students across the country.
The Chinese patron of Inspiring Women is Ms. Yang Lan, who runs a major media group and has a network of 200 million followers, while the U.K. patron is British Ambassador to China Barbara Woodward.
The European Chamber, in cooperation with Roland Berger, today released its annual Business Confidence Survey 2016. The survey finds that Beijing’s failure so far to deliver on promises that foreign-invested enterprises will enjoy a more open, competitive market has fostered mounting pessimism: a significant 41% of European companies are now re-evaluating their China operations and planning to cut costs, including through headcount reduction.
Although 47% also report that they plan to expand their operations in China, this represents a thirty-nine point decrease from 2013, when an overwhelming 86% of European companies were intending to do so. However, a clear majority of European business would likely increase their investment in China in the event of market access barriers being removed.
Please read the full press release here. The full download can be accessed here.
CBI member Rolls-Royce joined celebrations to mark Cathay Pacific Airways becoming the first airline in the Greater China region to operate the Airbus A350 XWB, powered by the world’s most efficient large aero engine, the Trent XWB.
The first aircraft arrived in Hong Kong on 29 May and entered into service on 01 June, marking another milestone in the success of the Trent XWB, the latest member of Rolls-Royce’s widely acclaimed Trent family. Growth markets including Greater China play an important role in Rolls-Royce growing its share of the installed widebody fleet.
The Chinese civil aviation sector has grown significantly over the past two decades since the first Trent 700 engine was delivered to Cathay Pacific in 1995. Today, 20% of Trent engine orders come from operators in Greater China.
Cathay Pacific has ordered a total of 22 A350-900 aircraft and 26 A350-1000 aircraft. Its Rolls-Royce powered fleet also includes the A330, the Boeing 747, and the Boeing 777.