Chinese businesses consider London
TEXT OF STORY
Renita Jablonski: Meanwhile, a delegation of 35 Chinese businesses is meeting in London this week to talk about setting up shop in the British capital. London’s worried the fallout from the economic crisis could hinder its reputation as a global business center. Christopher Werth has that.
Christopher Werth: London’s commercial property has become much more affordable, and there are a lot of highly qualified people desperate to find work. Two factors that have become selling points.
Jeff Wu of the Beijing-based VanceInfo Technologies, a member of the delegation, says London is a good starting point for breaking into the European market.
Jeff Wu: The many technology firms based in Europe has been our customers, and could be our potential customers in the future as well.
Wu’s company will base their European headquarters in the British capital, now that the city is offering free office space for a year, and access to advisors to help sort out the details of doing business abroad.
Mark Davies, who is hosting the delegation, says Chinese investors are in a better position than most.
Mark Davies: They’re coming from a home market, which of all the world’s economies is probably the one still with growth potential.
London already receives more investment from China than any other European city.
In London, I’m Christopher Werth for Marketplace.
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