5 Conclusion
81. The Chinese market offers
the potential for the UK to deliver significant improvements in
its export performance. The latest 5-year plan for the Chinese
economy offers the UK a window of opportunity to deliver a step-change
in its trade relationship with China. The speed with which the
Chinese economy is developing means that it will not be open for
long. It is therefore vital that the Government acts now to ensure
that UK companies can realise the potential of the China market.
82. The Government has clearly
targeted China as a key part of its strategy to increase the UK's
trade and exports. However, despite hearing that the Chinese economy
is now playing to the UK's strengths we continue to be out-performed
by countries like Germany. The recent announcement of $100 billion
target for UK/China bilateral trade was quickly overshadowed by
the German target of $284 billion. The contrast between the two
should serve as a wake-up call for the Government.
83. The UK is playing catch-up
in its trade relationship with China. If the UK is to realise
its potential in this key market, the Government, as a matter
of urgency, will need to up its game.
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