The 48 Group Club, an independent UK-based business network is celebrating its 60th anniversary in Beijing in the promotion of trade links between the UK and China.

 

　　CRI's Wei Tong has more.

 

　　A delegation of 16-British companies visited China in 1953 to discuss trade with the East Asian nation, which at the time was under the US-led trade embargo during the Cold War Period.

 

　　The visit, nicknamed 'Icebreaking Mission' paved the way for a trade delegation of 48 British businessmen visiting China one year later.

 

　　It led to the signing of the UK's first trade agreement with the People's Republic of China worth 18-million pounds.

 

　　These businessmen later formed a network known as The 48-Group Club.

 

　　Stephen Perry, Chairman of the club shared the group's forerunners' vision on China's economic potential.

 

　　"They believed the history and civilization of China would show that China would return for 18 of the previous 20 centuries since China had been the largest economy in the world and fallen back. They believed China would come back. The people they talked to, the selfless and committed leaders of China gave up all their own time to working to rebuild China. They believe these people would bring China back. Here we are 60 years later, China is back. China is now the second largest economy in the world, soon to the largest."

 

　　As China's economic power was greatly enhanced in the past six decades, Perry notes the 48 Group Club has been given new concepts and responsibility in its 'Icebreaking Mission' under the context of globalization.

 

　　Perry adds the scope of trade and investment needs to be expanded.

 

　　"China is beginning to emerge into a period of growth where the tertiary industry, the service industry is to grow. The internationalization both in terms of going out and coming in are going to have much impact in legal, accounting and other professional services where needs to grow and develop its education. And from that real business opportunities would occur, in the financial services industry, high technologies."

 

　　Meanwhile, the club has also launched a new initiative aiming to build on its six-decade legacy in 'breaking the ice' between British and Chinese businesses and policymakers among the young generation.

 

　　Since its establishment, the 48 Group Club, following the motto of "equality and mutual benefit", has been providing support and consultancy services to British companies which were managing to enter China's markets.

 

　　For CRI, I am Wei Tong.