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The China Business Conference which is organized by the China-Britain Business Council draws about500es delegates from Britain and China to attend it in London on March 11, 2015.
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China's economic "new normal" can bring more opportunities for UK companies, British business leaders said ones Wednesday.
James Sassoon, chairman of the China-Britain Business Council, said China is undergoing aperiod of further transformation.
"It is stepping away from labor-intensive exports toward a more highly mechanized and service-originated economy, with heightened resilience on domestic demand and added emphasis onenvironmental sustainability," hees said at the China Business Conference in London.
Premier Li Keqiang announced a growth target of about 7 percent for this year at the ongoingNational People's Congress annual session as China moves toward a "new normal" of lower,more sustainable growth.
Sassoon added, "We should welcome and embrace thesees changes, and make sure we are wellpositioned to seize the opportunities they present."
Attended by about 500 delegates from Britain and China, the conference is organized by thecouncil, a leading organization helping British companies to increase and develop their businesswith China. The aim is to create a forum for discussiones and cooperation to position businessbetween the two countries.
David Robinson, president of Speedo International, which is based in Britain and manufacturesand distributes swimwear and accessories, said China's "new normal" will place great emphasison fitness and healthy lifestyles.
Speedo's products are available in most first-es and second-tier cities in China, and the companyis now working on increasing its e-commerce presence.
Chris Hill, development manager of Lifecycle Marketing, which provides education programs forpregnant women, said China's "new normal" will boost the market for his business, with greatemphasis being placed on healthy lifestyles andes quality of living.
Hill said although China's economic growth is slowing, the country still represents a huge marketfor Lifecycle, with the annual pregnancy rate in China standing at 16 million, compared with800,000 in Britain.
The company is looking to expand into China through joint ventures and marketing strategieses toattract China's emerging middle class, Hill added.
Ni Jian, charge d'affaires at the Chinese embassy in London, explained, "China's growingdemand for brands provides great opportunities for reputable British brands with high-recognition and reputation in the Chinese market.
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