UK companies call for FTA with China

Nine out of 10 British companies doing business with China believe the UK needs a free-trade deal with Beijing in the post-Brexit era, and most think the goal is achievable within five years, according to a new survey.

The poll published this week by the London-based China-Britain Business Council also found a majority believes the UK's departure from the European Union will create more business opportunities with China.

The survey came a week after Chancellor Philip Hammond described the UK's relationship with China as"more important than ever" while hosting Chinese Vice-Premier Ma Kai for trade talks in London.

The CBBC's poll suggested companies already trading with China are more optimistic about Britain's situation post-Brexit than the wider business community. A separate survey by professional services firm Deloitte shows increased business uncertainty among UK executives, with Brexit their main concern.

Some 88 percent of chief financial officers polled reported high levels of uncertainty facing their business, the highest since 2012, according to Deloitte.

Commenting on its own findings, the CBBC said:"Current sentiment toward the opportunities for UK-China cooperation is overwhelmingly positive but does show a range of access issues and impediments."

It said respondents want an efficiently negotiated free-trade agreement with China to exploit the opportunities.

One impediment to the speedy conclusion of such a trade deal would be any delay in the timetable of Britain's exit from the EU.

Prime Minister Theresa May has pledged to trigger a two-year departure process by March next year but many analysts believe the divorce from the EU will take much longer. Britain cannot embark on free-trade talks until its exit from the EU is final.

Despite those reservations, 73 per cent of business people polled by the CBBC believe a deal is possible by 2021, and 88 percent say it is either"very important" or"important" for UK business.

Around 25 percent feared Brexit will mean fewer opportunities with China.

The CBBC said the UK and Chinese governments and business communities should start initial discussions.

The trade body has 1,000 members and 3,000 associates doing business with China. The 266 questioned for the poll represented both major corporations and small and medium-sized enterprises.

The writer is a senior media consultant for China Daily UK.