Chongqing - As China prepares to begin its 15th Five-Year Plan period, Chongqing is working to position itself as a strategic pivot for western China's development and a comprehensive hub for inland opening-up.

In a recent Global Vision interview, Bridging News spoke with Peter Burnett, chief executive of the China-Britain Business Council, on how global investors view China’s market outlook, western China’s expanding openness, and Chongqing’s international connections.

"Chongqing offers, and western China in particular offers, a new and developing market for a lot of these businesses," Burnett said.

Burnett said British companies are increasingly turning their attention from China’s coastal cities to inland markets, including Chongqing and western China. He added that the UK’s role as the guest country of honor at the just-concluded 8th Western China International Fair for Investment and Trade signaled strong support and growing interest in the region.

Burnett also said there is policy alignment between China's 15th Five-Year Plan and the UK's Modern Industrial Strategy. China's Five-Year Plan is the country's national economic and social development blueprint, while the UK strategy sets out priority sectors for long-term growth. 

He added that the two sides overlap in areas including services, advanced manufacturing, technology development, and creative industries, creating the potential for great cooperation and great collaboration.

Burnett said China and the UK have complementary strengths, with China’s efficiency matching well with the UK’s expertise in research, development, and services. He also highlighted room for cooperation in advanced manufacturing, technology, finance, agri-tech, health care, and creative industries.

As Chongqing strengthens links with ASEAN, Central Asia, and Europe through logistics routes including the New International Land-Sea Trade Corridor and China-Europe freight trains, Burnett said financial connectivity, trade finance, and risk management will become more important for supporting cross-border trade and investment.

(Luo Yilin, as an intern, also contributed to the report.)