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Economy

Economic Watch: British businesses highlight ice-breaking spirit, opportunities in China

February 09, 2026


Abstract : The "Icebreakers" Chinese New Year Dinner 2026 was held in London on Friday, drawing around 500 representatives from the Chinese and British business communities and other sectors. The event was jointly hosted by the 48 Group, the China Chamber of Commerce in the UK, and the China-Britain Business Council.

by Xinhua writers Gao Wencheng, Yu Aicen

LONDON, Feb. 7 (Xinhua) -- The "Icebreakers" Chinese New Year Dinner 2026 was held in London on Friday, drawing around 500 representatives from the Chinese and British business communities and other sectors. The event was jointly hosted by the 48 Group, the China Chamber of Commerce in the UK, and the China-Britain Business Council.

Blending tradition with innovation, the event featured Chinese lion dances alongside interactive displays by Chinese humanoid robots. Participants said the gathering came at a meaningful moment, following British Prime Minister Keir Starmer's recent visit to China, during which consensus was reached that they believe has injected new momentum into bilateral economic and trade cooperation.

ICE-BREAKING SPIRIT

In 1953, British entrepreneurs led by Jack Perry overcame various obstacles and broke the ice of a Western trade embargo on China, thus starting the earliest trade dialogue between New China and the United Kingdom. Their efforts laid the foundation for long-term commercial exchanges and earned them recognition as the first generation of "Icebreakers" in China-Britain relations.

In his congratulatory message to Friday's dinner, Chinese Vice Premier He Lifen expressed hope that people from all walks of life in both countries will continue to carry forward the "ice-breaking" spirit, strengthen cooperation in areas such as trade and investment, green transition, financial services, and scientific and technological innovation.

Speaking at the event, the current chairman of the 48 Group, also named Jack Perry and the grandson of the original Icebreaker, said the meaning of ice-breaking has evolved alongside China's development.

He described the process as moving from early trade cooperation to industrial engagement, and now to technology-driven collaboration.

"We've always evolved ice-breaking. Ice-breaking 1.0 was when China needed a trading partner, and we became that partner. Ice-breaking 2.0 was when China needed infrastructure, technology and manufacturing," he said, referring to the role played by the previous generation through joint ventures.

According to Perry, the current phase centers on innovation and advanced technology.

"Ice-breaking 3.0 is about technology, and it's my generation," he said, noting that his group's robotics subsidiary was launched this week in partnership with several Chinese companies.

"Technology and innovation happening in China need to reach the world. We want to help Chinese companies bring their brilliance globally," he added, describing robotics as a core business focus.

FRESH MOMENTUM

The renewed engagement was echoed by representatives from British businesses. Timothy Hailes, senior alderman below the chair of the City of London, described Starmer's China visit as a pragmatic move amid global economic uncertainty.

"Starmer's visit to China should be welcomed as a pragmatic step towards rebuilding channels for trade, investment and dialogue at a time of global economic fragmentation," he said.

Hailes noted that China remains the world's second-largest economy and a major source of outbound investment, particularly in green finance, fintech and capital markets.

Several business representatives said that following the prime minister's visit, they have sensed growing interest among clients in bilateral cooperation, with more inquiries related to investment planning and sectoral opportunities.

Among those who joined Starmer's visit to China was Octopus Energy, Britain's largest energy company. Founder and CEO Greg Jackson said the trip was significant both symbolically and practically.

"It was the first time a British prime minister visited China in eight years," Jackson said, adding that the mission focused on finding trade opportunities that could deliver lower costs and better services while supporting British economic growth.

Reflecting on China's progress in clean energy, Jackson highlighted rapid advances in research and development.

"I saw the incredible R&D that has made Chinese batteries and solar technology so efficient and better every year," he said.

At the same time, he emphasized the complementary nature of cooperation. "As China builds more renewable energy, it increasingly needs the kind of system optimization that we already operate at scale," he said, describing this as the basis for partnership.

Jackson added that China is building more renewable energy capacity than any other country, while his company's mission is to improve efficiency and reduce costs globally.

NEW YEAR EXPECTATIONS

As the Lunar New Year approaches, many companies shared expectations for future cooperation.

For instance, Chinese automaker BYD said it plans to expand its dealership network in the Britain and introduce megawatt-level fast-charging technology. Financial services firms expressed hopes of strengthening cooperation with Chinese partners to better serve international clients.

The 48 Group said it aims to continue helping British businesses explore cooperation opportunities with China across a wide range of sectors.

To those interested in opportunities in China, Perry quoted advice passed down from his grandfather on the importance of firsthand engagement.

"You don't understand China unless you go to China, and you don't understand China unless you go to the provinces. And you don't understand the provinces unless you go to the cities; you don't understand the cities unless you go to the districts; and you don't understand the districts unless you spend time with the people," he said.

"So I would say: go to China, embrace China and move forward."

With the Year of the Horse approaching, Michael Spence, president and provost of University College London (UCL), reflected on its symbolism.

"Horses are about progress, keeping it going and pushing through whatever barriers there might be," he said, noting that China's long-term perspective has been key to its development.

"We also take the long view of our partnerships with China, building together for the future," he added, calling steady and determined cooperation the best New Year message. 

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Keyword: China-UK cooperation British businesses

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