Hytera Amongst UK’s Fastest Growing Chinese-owned Companies

Technology compnies as China Unicom (Europe) Operations, Huawei Technologies (UK) and Hytera Communications were some of the most rapidly expanding Chinese-owned companies operating in the UK that were recognized at an awards ceremony at London’s glitzy St Pancras Renaissance Hotel on last week Thursday.

Both state-owned and private Chinese companies from multiple industries received awards for making it into the Grant Thornton Tou Ying Tracker 2016, a list of the top 30 fastest growing Chinese-owned firms in the UK compiled by the London-based accountancy in collaboration with China Daily.

“The numbers are quite staggering,” said Simon Bevan, head of the China Britain Services Group at Grant Thornton and co-author on the report. “The state-owned companies achieved an average growth of 146 percent year-o- year. The private companies achieved an even more astonishing growth of 210 percent.”

Bevan commented that the companies contributed positively to the UK economy, employing more than 20,000 while turning over nearly 10 billion pounds between them last year.

Jin Xu, minister counselor of the economic and commercial office of the Chinese Embassy in London, said the UK-China relationship received a huge boost in 2015 when President Xi Jinping visited Britain.

“It was a great moment, not only for political relations but also for cultural exchanges and trade relations between the two countries,” Jin told China Daily from the awards ceremony. “Business people want to make money, and make it safely. So they choose the UK, because they think it’s a great place to invest. In 2016 Chinese investment in the UK grew very fast, faster than in other European countries, and I think this trend will continue in the future.”