Wolverhampton Wanderers defeated Manchester City to claim the Premier League Asia Trophy in a 3 to 2 penalty shootout in Shanghai on Saturday. Four clubs including Manchester City, Newcastle United, West Ham United and Wolverhampton Wanderers participated in the Premier League Asia Trophy, which took place in Shanghai and Nanjing this year. 

"I think that is really exciting because that gives the broad opportunity for more fans to engage in football," said Chris Wood, the new British Consul General in Shanghai, about the Premier League Asia Trophy's return to the Chinese mainland since it was held in Beijing in 2009. 

Speakers share their views on the soccer industry at the Sport Business Summit on Friday. Photo: Yang Hui/GT

Aside from fan engagement, Wood believes it also brings a fascinating opportunity for youth development between China and the UK through collaboration, coaching and training.

The Premier League has been working with the British Council for several years on a program called Premier Skills, which has trained 5,000 soccer coaches who have reached out to over 1 million young Chinese soccer players, Wood said.

"This is building the relationships for the future," he added.

After becoming the new British Consul General in Shanghai in July, Wood said that a large part of his work would be to further promote the economic and trade ties between the UK and China, along with promoting environmental campaigns and academic and research connections between the two countries.

"Trade is a huge important part of the relationship. Our trade relationship is growing very rapidly. The UK and China trade relationship now runs at over 68.5 billion pounds ($91.18 billion). That's doubled in a relatively short time in all sorts of sectors. Sports is just one part of it," Wood said.

Speakers share their views on the soccer industry at the Sport Business Summit on Friday. Photo: Yang Hui/GT