UK can tap opportunities in China's service sector

China's economic development over the past 20 years has been defined by industrialization on an unprecedented scale. Sizable investments in infrastructure, real estate, and capital expenditure across its extensive manufacturing ecosystem have propelled the country into the ranks of upper-middle-income economies, with GDP per capita rising markedly.

As China's economy has matured, its growth momentum is naturally shifting toward services, both in business-to-business activity and in consumer-facing sectors. Recognizing this, the Chinese government is expected to make the high-quality development of the service sector a distinct objective in its upcoming 15th Five-Year Plan, calling for "promoting the high-quality, efficient development of the service sector" alongside industrial upgrade.

With its mature, globally connected and highly specialized service sector, the UK is well positioned to partner with China in this transition and seize new opportunities.

The United Kingdom's financial and professional services are world renowned, underpinned by global reach, strong regulatory credibility, and decades of experience operating in complex international markets. Drawing on this depth of expertise, UK institutions can support Chinese companies as they navigate a more sophisticated domestic economy: from strengthening governance and improving operational efficiency to developing competitive, globally ready products and services. As more Chinese firms look overseas, UK organizations can offer end-to-end guidance, not only in banking, accounting, legal and insurance services, but also in areas such as advertising, professional training, education and the adoption of internationally recognized standards, such as ISO certifications, sustainability accreditations, accounting and legal standards.

With digitalization reshaping every sector and artificial intelligence becoming increasingly embedded in daily life, China's steadily evolving framework for data governance and digital regulation will create fresh opportunities for service firms in the UK to help businesses navigate this landscape. However, for British and global organizations, a clear understanding of China's data rules and their implications for financial services, healthcare, technology and other data-intensive sectors will be essential for enabling compliant and effective cross-border operations.

China's aging population will also drive rising demand for services that cater to "the silver economy". The UK brings decades of experience in this field, spanning public provision, social-sector innovation and a sophisticated commercial market for later-life services. Greater exchange between the UK and China in areas such as retirement planning, wealth management, elderly care, social care and community support could provide China with additional tools and expertise as it develops this crucial sector, while offering British businesses meaningful opportunities to contribute.

Services do not need to be delivered within China to benefit from its development. Education, for example, is one of the UK's strongest global assets, with four British universities ranked among the world's top 10 in the latest QS rankings. Chinese students have long been an important part of higher education in the UK, and many return home with advanced skills, global perspectives, and strong cross-cultural understanding, attributes that are increasingly valuable as China continues to internationalize its economy and workforce.

The UK's sports and creative industries, spanning football, music, film, literature, fashion and video games, also have an important part to play. Many British cultural icons, including Harry Potter, Paddington, James Bond, Sherlock Holmes and, of course, David Attenborough, are household names in China. Greater collaboration on market access for British film, television, theater and gaming, together with co-production opportunities, could offer Chinese consumers a wider range of high-quality content in fast-growing cultural sectors. Partnerships in music and sport, including event management, training and large-scale productions, could further enhance experiences for Chinese audiences.

As a business association that has supported trade and investment between China and the UK for more than 70 years, the China-Britain Business Council remains committed to fostering dialogue, expanding commercial cooperation, and strengthening people-to-people links in ways that deliver practical and long-term benefits for both sides.

The author is chief executive officer of China-Britain Business Council. The views don't necessarily represent those of China Daily.

If you have a specific expertise, or would like to share your thought about our stories, then send us your writings at opinion@chinadaily.com.cn, and comment@chinadaily.com.cn.