Trucks shuttle back and forth in a container terminal in Wuzhou, South China's Guangxi Zhuang Autonomous Region on June 26, 2024. China's foreign trade in the first five months of 2024 recorded a yearly increase of 6.3 percent amid the country's steady economic recovery. Photo: cnsphoto

China's economic outlook remains highly promising, and its dedication to reform positions it as a global hub for innovation and collaboration, Jack Perry Jr, Chairman of the 48 Group, told the Global Times on Tuesday. He stressed that the group stands ready to play its part in supporting China's high-quality development and fostering shared progress for a sustainable future.

China's annual Central Economic Work Conference was held in Beijing last week as Chinese leaders decided on priorities for the economic work in 2025.

The recent Central Economic Work Conference held in Beijing has once again demonstrated China's unwavering commitment to high-quality development and economic reform. The priorities set for 2025 underscore China's determination to foster sustainable, innovation-driven growth, Perry said.

"These measures reflect a deep understanding of the shifting global economic landscape. China's emphasis on high-quality development aligns with its vision of achieving sustainable, inclusive growth while positioning itself as a global leader in advanced technologies and industries," he said.

He said the group's strategic focus aligns with China's priorities by concentrating on three critical areas including biotechnology and life sciences, renewable and green energy, and artificial intelligence.

The three areas focus on driving high-quality productive forces, as technologies in these three areas represent the emergence of industries and technologies that enhance productivity while addressing societal and environmental challenges, Perry said. 

Jack Perry Junior, chairman of the 48 Group Club Photo: Courtesy of Jack Perry Junior

In 1953, British entrepreneurs represented by Jack Perry, Jack Perry Jr's grandfather, kicked off a business trip to China breaking the ice of ideology with courage, and taking the lead in opening up the channel of China-Britain trade exchanges.

In order to further closer engagement with Chinese enterprises, Perry said that the 48 Group will launch its China Membership Program in September 2025, beginning from Beijing to other provinces.

"The original Icebreakers, who forged the first pathways for Sino-British trade, set a standard for mutual benefit and understanding. Today, we carry forward their legacy by addressing modern challenges with forward-thinking solutions," said Perry. 

Chinese Ambassador Zheng Zeguang on December 4, 2024, delivered a keynote speech at the 2024 China-UK Investor Forum, and called on efforts from the both sides to focus on cooperation, remove obstacles, and jointly usher the bilateral relationship into a new phase of sound and steady development.

"The two sides should make full preparations for the new round of Economic and Financial Dialogue and dialogues in other areas, and work for fruitful outcomes," said the ambassador, noting that it is hoped that the business communities of the two countries will grasp the major trend, stay focused, and work actively for new growth in China-UK economic and trade cooperation.

The newly released British Business in China: Sentiment Survey by the British Chamber of Commerce in China showed that 76 percent of surveyed companies are maintaining or increasing their investment in China. Notably, only 8 percent of companies are reducing their investment, which is the lowest figure since 2021.