SAIC named top investor at awards
- Source: Global Times
- [09:23 September 08 2010]
- Comments
Prince Andrew, Duke of York, takes to the podium for the British Chamber of Commerce Shanghai awards. Photo: Courtesy of British Chamber of Commerce Shanghai
By Tang Zhao
The British Chamber of Commerce Shanghai and the UK Pavilion named eight winners of this year's British Business Awards at the Shangri-La hotel in Pudong New Area Tuesday.
The local automaker, SAIC Motor, won the Chinese Investor of the Year Award, which was presented by Prince Andrew, Duke of York.
It is the first year that the award has been presented, which recognizes the achievements of a Chinese company that has established a presence in the UK, which is home to branches of some 420 Chinese companies.
SAIC Motor spent ￡67 million ($102.68 million) in 2004 to acquire the intellectual property rights and engines of British counterpart MG Rover. The Shanghai auto giant also set up a technical center with over 300 engineers in Birmingham.
Other winners last night included Split Works for Creativity; Halma China for Innovation; Arup for Sustainability; Sun Alliance Insurance (China) for Financial and Professional Services; Synergy Health for Most Promising New Business; Alex Chen for Chinese UK Alumnus of the Year; and Lloyd's Register for British Company of the Year.
The awards recognize outstanding achievements and ongoing commitment to promoting trade and investment relations between China and the UK.
More than 400 people attended the gala, including representatives from 39 finalists.
"The British Business Awards demonstrate the broad range of sectors in which British businesses operate in China, and the partnerships they have formed with their Chinese partners and stakeholders," said Sebastian Wood, UK ambassador to China.
Prince Andrew said that the companies with awards have followed good business practice, including thorough market research, establishing the best contacts, following a sound business strategy, as well as seeking out good advice on doing business in China.
The ceremony also kicked off the UK Pavilion Day celebrations at the World Expo 2010 in Shanghai Wednesday.
