What’s the AFSL all about?

The AFSL is China’s way of responding to what it sees as unfair economic measures, like sanctions or trade restrictions, from other countries targeting Chinese companies or citizens. It’s largely a reaction to actions from places like the US or EU, especially since trade tensions have ramped up in recent years. For British businesses with a presence in China, whether in tech, manufacturing, or education, the law matters because it could affect how you manage compliance across different markets. The new regulations spell out who might be targeted, what measures could apply, and how you can respond if needed, giving UK firms a clearer picture to work with.

Who might the AFSL affect?

Under Article 3 of the AFSL, China can take “countermeasures” against individuals or organisations involved in what it considers “discriminatory or restrictive measures” against Chinese interests. The new rules clarify this could include:

• People or companies directly involved in creating or enforcing foreign sanctions.
• Senior managers or controllers of those organisations.
• Businesses linked to or controlled by those on the “countermeasure list.”

If you’re on this list, you might face things like visa restrictions, limits on working with Chinese partners, or having assets in China frozen. For a British firm, this could mean a pause on collaborations with local suppliers or restricted access to funds in China. However, there’s a process to appeal, and the regulations suggest decisions aren’t made lightly.

What happens if you don’t follow the rules?

The AFSL asks companies in China to align with its countermeasures, like not enforcing foreign sanctions against Chinese entities. If you don’t comply, you could face restrictions on doing business in China or, in some cases, lawsuits from Chinese companies or individuals who feel impacted. The law’s a bit vague on whether it applies only to actions in China, so there’s a chance that complying with UK sanctions could raise questions under the AFSL. For British businesses with global operations, this means you’ll need to think carefully about how to balance compliance across jurisdictions, but it’s manageable with the right planning.

What’s new in the 2025 regulations?

The State Council’s latest rules give more detail on how the AFSL works, which is helpful for British firms looking to stay compliant. Here’s what you need to know:

Thoughtful assessments

Before applying countermeasures, the State Council must investigate and assess whether they’re necessary. This means decisions should be well-considered, giving UK businesses some reassurance that measures won’t come out of the blue. You can also apply to have measures lifted if you show you’re compliant.

What can be affected?

The rules clarify that “property” includes things like cash, intellectual property, or bank deposits in China. For a British company with assets like patents or investments in China, it’s worth keeping this in mind when planning.

Broader business activities

Countermeasures might touch sectors like education, technology or tourism. If you’re a UK university with partnerships in China or a tech firm with local operations, it’s a good idea to check how your activities align with the AFSL.

Options for resolution

If a Chinese entity believes your actions support foreign sanctions, it could file a lawsuit seeking compensation. But you can also appeal countermeasures by showing you’ve addressed any issues, like through compliance training or internal audits. This gives British firms a way to resolve disputes constructively.

How has the AFSL been used?

China has applied the AFSL a few times already. In July 2021, it targeted US individuals, like former Commerce Secretary Wilbur Ross, over sanctions related to Hong Kong. More recently, in October and December 2024, it hit US defence firms with measures like asset freezes over arms sales to Taiwan. While no British companies have been named yet, these examples show the law is in play, especially for firms in sensitive sectors like tech or defence. For UK businesses, it’s a signal to stay informed, but not a reason to panic.

How can British businesses stay prepared?

The updated AFSL regulations highlight the need for British companies to be proactive, but they also offer clarity and options for staying compliant. The key is to plan smartly without getting overwhelmed. Here’s how:

• Check your operations to see if UK or international sanctions might overlap with the AFSL.
• Work with experts to understand the law’s nuances.
• Run compliance audits to ensure your business aligns with Chinese regulations.
• Stay updated on changes to the AFSL, as its scope might evolve.

For instance, a British retailer sourcing goods from China while following UK trade rules should review whether those rules could be seen as “discriminatory” in China. A quick compliance check can keep things running smoothly.

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Here are ten essential takeaways from the CBI that offer fresh insights for anyone interested in the future of branding, consumption, and e-commerce in China.

1. China’s E-commerce Consumers are Now Choosing Quality Over Price

The CBI shows a nationwide move away from discount-driven consumption to one centred on brand strength, innovation, and consumer satisfaction. Between Q1 2023 and Q1 2025, the CBI rose from 59.42 to 63.38, equivalent to around half of consumers upgrading to one of the top 500 brands. This shift is visible across every major category and reflects growing consumer expectations for quality.

2. The Top 500 Brands (CBI500) are Measured by Behaviour, Not Buzz

The CBI500, a ranking of the top 500 online consumer brands, uses real purchasing behaviour, not surveys or ad spend, to assess brand performance. Metrics include search volume, pricing, reviews, loyalty and innovation, providing a robust picture of brand health. Over 20% of top-performing brands were founded between 2011 and 2019, showing that fresh, agile players are increasingly outpacing legacy giants.

3. Young Consumers are Driving Demand for Novelty and Innovation

Gen Z consumers (aged 18–24) are leading the charge for newness and participation. The report highlights rapid growth in purchasing among this age group, who are particularly responsive to limited editions, social engagement and brand storytelling. Brands hoping to resonate with China’s digital natives must be nimble, innovative and deeply interactive.

4. Regional Cities Lead in Brand Quality, Not Just Big Spend

While first-tier cities like Beijing and Shanghai have the highest purchasing power (as seen in the Brand Purchase Index or BPI), they don’t top the CBI due to their large migrant populations. Instead, cities like Hefei, Zhengzhou and Huai’an score higher in brand quality, suggesting a strong appetite for premium and niche products beyond China’s megacities.

5. 3C Digital and Home Appliance Brands Dominate the Rankings

The highest-performing sectors by CBI score are 3C digital products (communications, computers, and consumer electronics) and home appliances, with scores between 75 and 85. This indicates strong consumer trust, loyalty and a high degree of brand consolidation. Beauty and personal care also show high scores, while fashion and pet care are growth categories with notable movement.

6. Niche and Emerging Categories Offer Entry Points for New Brands

Lower-scoring sectors like fashion (particularly women’s apparel), home furnishings, pet care and food show room for new entrants. These categories, with CBI scores between 39 and 60, are more fragmented, offering opportunities for emerging brands to establish themselves. Strong storytelling, digital innovation and consumer focus will be key to success.

7. Data-Driven Brand Ratings Replace Traditional Measures

CBI is built on big data, covering almost a billion active users across major e-commerce platforms. It tracks quality, not just quantity, integrating search behaviour, purchase records, customer reviews and loyalty data. Traditional methods like financial performance or consumer surveys are no longer sufficient in China’s fast-paced online retail market.

8. Migrant Worker Populations Skew Consumption Patterns

Regions with large migrant populations tend to show higher BPI (total spending) but lower CBI (average brand quality), as price remains a key factor for many lower-income consumers. This helps explain why first-tier cities underperform in CBI despite their economic strength, and why smaller cities may offer better returns for premium brand strategies.

9. Innovation is a Key Success Factor for Fast-Growing Brands

The CBI finds that 80 of the 100 fastest-growing brands in China are domestic, and many serve niche needs through innovative products and formats. These brands thrive not on scale, but on agility, responding quickly to changing tastes, launching new products, and embracing formats like livestreaming and short video.

10. A Shift from Price Wars to a ‘Race to the Top’

The broader message of the CBI report is clear: China’s e-commerce environment is maturing. Platforms, policymakers and consumers alike are encouraging a transition to value-driven competition. That means global and local brands must focus on authenticity, innovation, and perceived value, rather than racing to the bottom on pricing.

As the world’s largest online retail market, China now offers one of the most sophisticated data environments for understanding consumer preferences. For foreign brands, success increasingly depends on quality storytelling, tech-driven marketing, and a deep understanding of local dynamics, not just name recognition. The CBI shows that China’s online retail future will be shaped by quality, not quantity.

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The Hainan Consumer Products Expo, held annually in Haikou, has emerged as a premier platform for global brands to engage with China’s burgeoning consumer market. In 2025, the event took on special significance for the UK, which was named the guest country of honour for the first time. This accolade underscored the strengthening economic ties between the UK and China, with British exports to China reaching £28.5 billion in 2024. The China-Britain Business Council (CBBC) played a pivotal role in facilitating the participation of British brands, including health retailer Holland & Barrett and tea specialist Whittard of Chelsea.

The Hainan Expo, now in its fifth year, attracted over 300,000 visitors and featured 4,000 brands from 80 countries, with a focus on premium consumer goods. China’s consumer market, projected to reach US$8.2 trillion by 2030, is a magnet for international brands, driven by a growing middle class and increasing demand for high-quality imports. For British businesses, the expo offered a strategic opportunity to showcase their products, build brand awareness, and forge partnerships in a market where e-commerce and cross-border trade are thriving. The UK pavilion highlighted Britain’s reputation for innovation and heritage, with CBBC members like Holland & Barrett and Whittard leading the charge.

Holland & Barrett, a household name in the UK for health and wellness products, made a significant impact at the 2025 expo. For the company, it was their first major appearance at Hainan, following a smaller presence in Hangzhou the previous year. Sophia, representing Holland & Barrett, expressed enthusiasm about the opportunity.

“We think it’s a good opportunity to make some business here, especially as the UK is the country of honour this year”. In China, where the health supplement market is expected to grow to US$50 billion by 2027, Holland & Barrett is a relatively new player, having entered the market just seven months before the expo. This necessitated a tailored approach to meet the preferences of Chinese consumers.

Unlike its established retail model in the UK and Europe, Holland & Barrett has adapted its strategy in China to focus on products designed specifically for local tastes. Sophia explained, “We make products especially for Chinese consumers, so we consider such things as localising ingredients and how we consume them”. This localisation effort includes developing supplements with appealing flavours, as Chinese consumers often prioritise taste alongside health benefits. This focus on consumer experience, coupled with the expo’s high visibility, positioned Holland & Barrett to capture the attention of China’s health-conscious urbanites, particularly millennials and Gen Z, who drive demand for premium wellness products.

Whittard of Chelsea, a British tea brand founded in 1886, also seized the opportunity to showcase its heritage at the Hainan Expo. Participating for the first time, Whittard was selected to represent the tea, coffee, and hot chocolate category within the UK pavilion. Katherine Oon, Whittard’s International Sales Manager, expressed excitement about the event. “This is our first time participating in the Hainan Expo and we are very excited to be part of the UK pavilion,” she said. Tea holds deep cultural significance in China, but Whittard distinguished itself by introducing British tea traditions to Chinese consumers. “We want to bring the British tea lifestyle and the traditions to the Chinese customers,” says Oon. “So it’s about educating them on afternoon tea, British blends like Earl Grey, English Rose and the Britishness of tea traditions.”

Whittard’s approach respects China’s rich tea culture while highlighting its unique offerings. The company sources teas globally, including from China, but its expertise lies in blending, a hallmark of British tea culture. At the expo, Whittard’s tea-tasting sessions were a highlight. “Tea tasting is always busy. It’s our experience, it’s a tea journey that every customer enjoys,” says Oon. These interactive experiences resonated with Chinese consumers, particularly affluent urban professionals who value premium and experiential products. The expo’s focus on cultural exchange allowed Whittard to position itself as a bridge between British and Chinese tea traditions, fostering consumer curiosity and brand loyalty.

Looking ahead, both brands outlined ambitious plans for 2025, leveraging their expo participation to deepen their foothold in China. Holland & Barrett aims to expand its product range and distribution channels, building on the momentum gained at Hainan. The company’s focus on localisation aligns with China’s growing demand for health products tailored to local preferences, supported by the country’s 105 cross-border e-commerce pilot zones. Whittard, meanwhile, is set for a significant push this year.

“2025 is going to be a big year for us. We set up a team in China, I will be relocating to Shanghai, and as a brand itself we are going to have more opportunities for collaboration for partnerships and introducing the whole British afternoon tea to the Chinese consumer,” says Oon. This strategic relocation and focus on partnerships reflect Whittard’s commitment to embedding itself in China’s market.

The success of Holland & Barrett and Whittard at the Hainan Expo underscores the broader opportunities for British brands in China. The event’s emphasis on the UK as the country of honour amplified their visibility, allowing them to connect with distributors, retailers, and consumers. CBBC’s support was instrumental, however, challenges remain, including navigating China’s regulatory landscape and competing with domestic brands. The CBBC advises British firms to invest in local partnerships and cultural understanding to succeed, a strategy both companies employed effectively.

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Why Open a Bank Account in China?

For British citizens relocating to China or engaging in business there, a local bank account is essential for seamless financial management. China’s cashless economy, dominated by mobile payment platforms like WeChat Pay and Alipay, relies heavily on local bank accounts for transactions, from paying bills to online shopping on platforms like Taobao. In 2025, China’s e-commerce market is valued at US$2.1 trillion, with 70% of retail sales occurring online, making a bank account critical for daily life. A local account also simplifies receiving salaries, paying rent, and managing cross-border payments in Renminbi (RMB). As Kristina Koehler-Coluccia, Head of Business Advisory at Woodburn Accountants & Advisors, notes, “A local bank account greatly simplifies life in China, offering access to services that foreign cards often can’t provide”.

Step-by-Step Guide to Opening a Bank Account

Opening a bank account in China as a foreigner involves specific requirements and procedures. Below is a clear, step-by-step guide tailored for British citizens, based on the latest 2025 regulations and practices.

Step 1: Confirm Eligibility

Foreigners, including British citizens, can open bank accounts in China, but eligibility depends on visa status. You must hold a valid visa with at least six months’ validity, such as a Z work visa, X student visa, or L long-term private affairs visa. Tourist visas (L visas for short stays) are typically not accepted. You must also be physically present in Mainland China, as remote account opening is rare, except through international banks like HSBC in specific cases.

Step 2: Choose a Bank

China’s banking sector includes major state-owned banks, commercial banks, and international institutions. For British citizens, the “Big Five” banks, Bank of China (BOC), Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB), Agricultural Bank of China (ABC), and Bank of Communications (BOCOM), are popular due to their extensive branch networks and English-language services in major cities like Beijing and Shanghai. International banks like HSBC, Citibank, and Standard Chartered offer familiarity and multi-currency accounts but may have stricter requirements, such as a minimum balance of £15,000 for HSBC Advance accounts.

Consider factors like branch accessibility, digital banking capabilities, and fees. For example, ICBC’s WeChat Banking service allows account management via WeChat, while BOC offers a Current All-In-One Account for multi-currency transactions.

Step 3: Gather Required Documents

Chinese banks enforce strict “Know Your Customer” regulations, requiring a comprehensive set of documents. Prepare the following, ensuring originals and photocopies are available:

• Valid Passport: Your primary identification document, with the name matching exactly across all documents to avoid delays.
• Chinese Visa or Residence Permit: A valid visa or temporary/permanent residence permit, with at least six months’ validity.
• Proof of Address: A rental agreement, utility bill, or Temporary Accommodation Registration Form from the local Public Security Bureau.
• Chinese Mobile Phone Number: A local number registered in your name for verification and communication.
• Proof of Employment or Study (if applicable): An employment contract, letter from your employer, or admission letter from a university for students.
• Police Clearance Form (sometimes required): A registration form from the local police station, particularly for new arrivals.

Some banks may request additional documents, such as a Taxpayer Identification Number (e.g., National Insurance Number for UK citizens) for cross-border transactions.

Step 4: Visit a Bank Branch

In-person visits are mandatory for most Chinese banks, as online account opening is limited. Choose a branch in a major city, where staff are more likely to speak English and be experienced with foreign clients. Schedule an appointment if possible, and bring a Chinese-speaking friend or interpreter if you’re not fluent, as application forms may be in Chinese.

At the branch, approach the information desk and tell them you would like to open a bank account. Staff will provide an application form and guide you through the process. Expect identity verification and document checks, which may take over an hour.

Step 5: Select an Account Type

Choose between a savings account (for daily expenses and electronic payments) or a multi-currency account (for international transactions). Debit cards are standard, linked to mobile payment platforms, while credit cards are less common for foreigners. Most savings accounts charge an annual fee of around 10 RMB (approximately £1.10), automatically deducted from the account.

For business owners, corporate accounts require additional documentation, such as a Business Licence and proof of state approval for foreign-invested enterprises. These accounts face stricter compliance checks and may take weeks to process.

Step 6: Make an Initial Deposit and Pay Fees

Most banks require an initial deposit, typically 40–50 RMB (£4–£5), though some, like CCB, may require higher balances (and up to 50,000 RMB for certain accounts). A registration fee of 40–50 RMB is also standard. Carry extra cash (around 100 RMB) to cover unexpected costs.

Step 7: Receive Your Bank Card and Set Up Mobile Payments

Once approved, you’ll receive a debit card and account details, typically within one to two weeks, though some banks issue cards on the spot. Link your account to WeChat Pay or Alipay for seamless transactions, as cash is rarely used in urban China. Activate online banking or mobile apps for account management. Be cautious with security, using two-factor authentication to protect against fraud.

Practical Tips for Success

• Visit Major Cities: Branches in Beijing, Shanghai, or Guangzhou are more accustomed to foreign clients and often have English-speaking staff.
• Check Visa Validity: Ensure your visa has at least six months’ validity to avoid rejection.
• Be Patient: Some branches may lack experience with foreigners, requiring multiple visits or additional documents.
• Explore Alternatives: If opening a local account is challenging, consider a Wise or Revolut account for low-fee, multi-currency transactions, manageable from the UK before your move.
• Understand Restrictions: Some banks limit international transfers or currency conversions, especially during government restrictions on foreign currency reserves.

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On 7 May 2025, China’s financial authorities, led by the People’s Bank of China (PBOC), announced a sweeping 10-point monetary policy package designed to bolster market confidence and support economic stability. Unveiled at a joint press conference with the National Financial Regulatory Administration (NFRA) and the China Securities Regulatory Commission (CSRC), the measures respond to global economic uncertainties, including heightened US tariffs and domestic restructuring challenges. For British businesses, this package signals both opportunities and complexities as China seeks to maintain its position as a global economic powerhouse while fostering a more resilient domestic market.

The package, described by PBOC Governor Pan Gongsheng as a “coordinated” effort, includes a range of tools aimed at injecting liquidity, lowering borrowing costs, and supporting innovation-driven growth. Key among these is a 10-basis-point cut in the 7-day reverse repo rate, from 1.5% to 1.4%, and a 25-basis-point reduction in interest rates for structural monetary policy tools. Additionally, the PBOC has lowered the reserve requirement ratio (RRR) for banks, freeing up capital for lending, particularly to small and medium-sized enterprises (SMEs) and technology-driven firms. These steps, as reported by CGTN, are intended to stabilise market expectations and shore up economic momentum amidst external pressures.

China’s economic context underscores the urgency of these measures. The country has faced significant headwinds from a second trade war with the United States, with US tariffs impacting exporters and global trade dynamics. Bloomberg notes that Beijing’s response includes not only monetary stimulus but also efforts to mobilise medium- and long-term capital to support domestic industries. The package also introduces new financing tools for tech enterprises, reflecting China’s ambition to lead in sectors like artificial intelligence and green energy. For UK firms, particularly those in technology or manufacturing, these initiatives could open doors to partnerships or market entry, provided they navigate the accompanying regulatory landscape.

A notable aspect of the package is its focus on supporting SMEs, which are critical to China’s economic fabric. Enhanced financing mechanisms, including targeted loans and bond issuance support, aim to bolster these businesses, many of which have been hit hard by global market volatility. The CSRC has also outlined plans to deepen capital market reforms, encouraging listings by high-tech firms and improving market access for institutional investors. According to Reuters, these reforms are partly a tactical response to US trade pressures, aiming to reduce reliance on external markets. For British SMEs, this could mean increased opportunities to collaborate with Chinese counterparts, particularly in consumer goods and services, where demand remains strong.

However, the package is not without its challenges. While the monetary easing is designed to stimulate growth, it also raises concerns about potential inflationary pressures and asset bubbles, particularly in China’s property sector, which has been a focal point of economic strain. The South China Morning Post highlights that the government is simultaneously rolling out measures to stabilise the job market and boost domestic consumption, indicating a multi-pronged approach to economic recovery. For UK businesses, this dual focus on stimulus and stability suggests a market that is both dynamic and unpredictable, requiring careful strategic planning.

The international backdrop adds further complexity. The package comes at a time when China is pushing for greater internationalisation of the yuan, capitalising on volatility in the US Treasury market. A survey by Renmin University’s International Monetary Institute indicates growing enterprise interest in using the yuan for international settlements, a trend that could reshape trade dynamics. For British firms, this shift may necessitate adjustments in payment and financing strategies, particularly for those engaged in cross-border trade. The CBBC advises UK companies to leverage local expertise to navigate these changes effectively.

The package also aligns with China’s broader geopolitical and economic strategy. Reports from Yahoo Finance suggest that China has agreed to suspend certain non-tariff barriers to US imports, hinting at a potential de-escalation of trade tensions. This development, coupled with the monetary measures, reflects Beijing’s intent to balance domestic priorities with global engagement. For UK businesses, this creates a window of opportunity to engage with a market that is actively seeking to diversify its economic partnerships, particularly in sectors like education, healthcare, and green technology, where British expertise is well-regarded.

For British companies, the implications of the 10-point package are significant. The emphasis on technology and innovation opens avenues for UK tech firms to explore collaborations, though increased regulatory scrutiny in high-tech sectors, as seen in the 2025 Negative List for Market Access, necessitates robust compliance measures. The healthcare sector, buoyed by China’s focus on domestic consumption, presents opportunities for British pharmaceutical and medical device companies to tap into a growing market. Similarly, the easing of financing for SMEs could facilitate joint ventures or supply chain partnerships, particularly for UK firms in consumer goods, where China’s middle class continues to drive demand.

The UK-China economic relationship provides a strong foundation for capitalising on these opportunities. The CBBC underscores the potential for British SMEs to benefit from China’s expanding consumer market, though success hinges on understanding local regulations and building strategic partnerships. The monetary package, by enhancing liquidity and market access, could amplify these opportunities, but firms must remain vigilant about competitive pressures and policy shifts.

Critics of the package argue that while it addresses immediate market concerns, it may not fully resolve deeper structural issues, such as China’s reliance on debt-driven growth or vulnerabilities in its property sector. Bloomberg notes that monetary policy alone cannot address all economic imbalances, particularly in a global environment marked by trade disruptions. For UK businesses, this underscores the need for a long-term perspective, balancing short-term gains from market openings with caution about macroeconomic risks.

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China has unveiled its 2025 Negative List for Market Access, marking another stride in its ongoing efforts to open its economy to both domestic and foreign investors. Published by the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) on 25 December 2024, the updated list reduces the number of restricted sectors and refines regulations to foster a more unified national market. While this development signals Beijing’s commitment to liberalisation, it also introduces new oversight for emerging industries, reflecting a cautious approach to balancing economic growth with regulatory control. For British businesses eyeing opportunities in China, understanding the nuances of this list is crucial for navigating the evolving market landscape.

The Negative List for Market Access, first introduced in 2018, serves as a cornerstone of China’s market reform strategy. Unlike the Foreign Investment Negative List, which specifically governs foreign investors, the Market Access Negative List applies to all entities—domestic and foreign—operating within China. It delineates sectors where investment is either prohibited or restricted, with the latter requiring special approvals or compliance with specific conditions. The 2025 iteration, effective from 1 February 2025, reduces the total number of restricted and prohibited items from 123 to 115, a modest but significant step towards easing market entry barriers. This reduction follows a trend of gradual liberalisation, with the 2021 list having cut entries from 131 to 123.

A key feature of the 2025 list is the removal of several longstanding restrictions. Notably, the requirement for domestic equity holding in certain manufacturing sectors has been lifted, allowing greater flexibility for foreign investors. Restrictions on investment in traditional Chinese medicine production and the operation of performance venues have also been relaxed, opening avenues for cultural and health-related enterprises. These changes align with China’s broader economic goals, including boosting domestic consumption and supporting small and medium-sized enterprises (SMEs), as outlined in the NDRC’s accompanying statement. For British firms, particularly those in healthcare or cultural industries, these adjustments could unlock new opportunities to engage with China’s vast consumer base.

However, the liberalisation is tempered by new regulatory measures targeting emerging sectors. The 2025 list introduces stricter oversight for industries such as drones, internet services, and artificial intelligence (AI). Investments in these areas now require additional approvals, reflecting Beijing’s intent to safeguard national security and maintain control over rapidly evolving technologies. This move comes amidst global concerns about data privacy and technological sovereignty, with China’s Ministry of Industry and Information Technology (MIIT) emphasising the need for “secure and controllable” digital infrastructure. For UK tech companies, this heightened scrutiny may pose challenges, necessitating robust compliance strategies to navigate the regulatory landscape.

Beyond the list itself, the NDRC and MOFCOM have launched a nationwide campaign to dismantle hidden market access barriers. This initiative aims to address local protectionism and inconsistent regulations that have long frustrated businesses operating across China’s diverse provinces. The campaign, set to run through 2025, will focus on streamlining administrative processes and ensuring that national policies are uniformly implemented. According to a report by Bloomberg, this push for a unified market is part of China’s response to external pressures, including the recent US-China trade war, which has underscored the need for a resilient domestic economy. For British businesses, a more consistent regulatory environment could reduce operational uncertainties, particularly for those establishing supply chains or distribution networks across multiple regions.

The timing of the 2025 Negative List’s release is noteworthy, coinciding with a period of economic recalibration for China. The country has faced challenges from US tariffs and global market volatility, prompting Beijing to bolster domestic growth through monetary stimulus and market reforms. The People’s Bank of China recently cut its policy rate and lowered reserve requirements to support an economy strained by external trade pressures. Against this backdrop, the Negative List serves as both an economic signal and a practical tool, reassuring investors of China’s commitment to openness while addressing internal structural issues.

For British companies, the implications of the 2025 Negative List are multifaceted. Sectors such as education, where restrictions on foreign-invested institutions have been eased, present opportunities for UK universities and training providers to expand their footprint in China. Similarly, the relaxation of rules in the healthcare sector, particularly around traditional Chinese medicine, could attract British pharmaceutical firms interested in collaborative research or market entry. However, the increased scrutiny of tech-related investments underscores the importance of due diligence. Partnering with local firms or leveraging the expertise of the CBBC can help mitigate risks and ensure compliance with China’s complex regulatory framework.

The broader context of UK-China economic relations also shapes the significance of the Negative List. Despite geopolitical tensions, trade between the two nations remains robust, with UK exports to China reaching £28.5 billion in 2024, according to the UK Department for Business and Trade. The CBBC has highlighted China’s consumer market and growing middle class as key drivers for British SMEs, particularly in consumer goods and services. The 2025 Negative List, by reducing barriers in these sectors, aligns with these opportunities, though firms must remain vigilant about local competition and evolving regulations.

Critics argue that while the Negative List represents progress, it falls short of transformative reform. Some sectors, such as telecommunications and financial services, remain heavily restricted, limiting foreign participation. The introduction of new controls in high-tech industries has also raised concerns about regulatory unpredictability, particularly for firms reliant on innovation-driven growth. China’s balancing act between liberalisation and control reflects its broader strategy of fostering economic self-reliance while engaging with global markets. For UK businesses, this duality necessitates a strategic approach, balancing optimism about new opportunities with caution about regulatory hurdles.

China’s 2025 Negative List for Market Access is a step towards greater economic openness, offering British businesses new avenues for investment while introducing challenges in emerging sectors. By reducing restricted sectors and tackling local barriers, Beijing is laying the groundwork for a more integrated national market. For UK firms, success in this evolving landscape will depend on thorough market research, strategic partnerships, and a keen understanding of China’s regulatory priorities. As China navigates global economic headwinds, the Negative List underscores its determination to remain a key player in international trade, inviting British businesses to engage with its dynamic market while adapting to its unique challenges.

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Why Get a Local SIM Card?

A local SIM card is a game-changer for visitors to China. The primary advantage is cost. International roaming charges from UK providers can quickly spiral, with data rates often exceeding £5 per gigabyte. In contrast, a Chinese SIM card offers generous data plans (20GB for around £10) making it a budget-friendly option for staying connected. A local number also opens doors to essential services. Booking a taxi, ordering food via apps like Meituan, or making hotel reservations often requires a Chinese phone number, as many businesses prioritise local contacts or may not respond to foreign numbers. Moreover, a local SIM provides access to China’s 4G and 5G networks, ensuring fast, reliable connectivity, even in rural areas with providers like China Mobile.

However, there are challenges to consider. China’s real-name registration policy requires foreigners to present a passport, which can complicate the process, especially in smaller stores where staff may lack experience with international IDs. Language barriers can also make purchasing and activating a SIM tricky, particularly if you don’t speak Mandarin. Compatibility is another hurdle, your phone must be unlocked and support China’s network bands, as some providers, like China Telecom, may not work with all foreign devices. For short trips, the effort of navigating these hurdles might feel excessive, especially if Wi-Fi hotspots are readily available. Additionally, while a local SIM grants access to Chinese apps, a VPN is still needed to bypass the Great Firewall and access blocked sites like Google or Facebook.

Despite these drawbacks, the benefits of affordability, local integration, and reliable connectivity make a local SIM a worthwhile investment for most UK travellers, particularly for stays longer than a week. For those seeking convenience, eSIMs offer a digital alternative, but they require a compatible device and often focus on data-only plans.

Step-by-Step Guide to Getting a Chinese SIM Card

Step 1: Check Your Phone’s Compatibility

Before purchasing a SIM, ensure your phone is unlocked and compatible with China’s mobile networks. China Mobile, China Unicom, and China Telecom dominate the market, but China Unicom is often the best choice for foreigners due to its compatibility with most international phones, supporting both 3G and 4G/5G networks. Check your phone’s specifications for compatibility with China’s frequency bands (4G bands B1, B3, B5). If in doubt, contact your UK provider to confirm your phone is unlocked, as locked devices won’t work with a Chinese SIM. For eSIM users, verify that your device supports this technology, most modern smartphones, like recent iPhones or Samsung models, do.

Step 2: Choose Your Provider and Plan

China’s three major telecom providers, China Mobile, China Unicom, and China Telecom, offer prepaid plans tailored for tourists. China Unicom is recommended for its foreign phone compatibility and robust urban coverage, with plans like 10GB of data and 500 minutes of calls for around 69 RMB (£7) for 30 days. China Mobile boasts the widest coverage, ideal for rural travel, but its 3G network may not work with foreign phones, limiting you to 4G or slower 2G in some areas. China Telecom’s CDMA network is less compatible with international devices, so it’s best avoided unless your phone supports LTE. Compare plans based on data needs, call allowances, and validity (typically 7–30 days). For short trips, eSIM providers like Airalo or Holafly offer data-only plans starting at £4 for 1GB over 7 days, activated online for convenience.

Step 3: Gather Required Documents

China’s real-name registration policy mandates that all SIM cards be linked to a valid ID. As a foreigner, you’ll need your passport (original or photocopy) and, in some cases, a selfie or proof of your Chinese address, such as a hotel booking. If you’re staying long-term, a residence permit may also work. Have these documents ready to streamline the registration process, as smaller shops may struggle to process foreign IDs without clear guidance.

Step 4: Decide Where to Purchase

You can buy a SIM card at international airports, telecom stores or online. Airports like Beijing (PEK) or Shanghai (PVG) have China Mobile and China Unicom kiosks, but prices are higher, expect to pay 200 RMB (£20) for a 20GB plan. For better value, visit a flagship store in city centres, where staff are more likely to speak English and handle foreign registrations. Alternatively, online platforms like China Adventure or Nihao Mobile allow you to order a SIM for delivery to your hotel, requiring only a passport photo and selfie for activation. eSIMs from providers like Saily or Holafly can be purchased online before travel, offering instant activation upon arrival.

Step 5: Visit the Store or Activate Online

If buying in person, head to a major China Unicom or China Mobile store, ideally in a city centre or “VIP” branch, as smaller outlets may not process foreign passports. Use a translation app like Pleco to communicate your needs. Present your passport, choose a plan, and sign any required forms; expect the process to take 30-60 minutes. For online purchases, follow the provider’s instructions to upload your passport and selfie via their website or apps like WeChat. eSIMs are simpler: purchase online, scan a QR code, and enable data roaming in your phone settings to activate.

Step 6: Insert and Activate the SIM

For physical SIMs, insert the card (nano, micro, or standard size) into your phone and restart it. The SIM should connect automatically, but you may need to enter the provider’s Access Point Name (APN) settings (‘cmnet’ for China Mobile). Check your phone’s settings under “Cellular” or “Mobile Network” to ensure data is enabled. For eSIMs, follow the provider’s activation steps, typically involving a QR code scan. Test the connection by accessing a Chinese app like Baidu. If issues arise, restart your phone or manually select the network operator.

Step 7: Top Up as Needed

To extend your plan or add data, top up via WeChat Pay or Alipay mini-apps by searching “手机充值” (phone recharge) and entering your number. Alternatively, visit telecom stores or convenience shops for scratch cards, or pay cash at post offices. Check your balance by texting provider-specific codes (10086 for China Mobile). For eSIMs, top-ups are managed online through the provider’s app or website, often supporting UK payment methods like Visa or PayPal.

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In a surprising twist, the United States and China have decided to cool down their heated trade battle, agreeing to cut tariffs for the next three months. This move comes after months of back-and-forth in which both countries slapped hefty taxes on each other’s goods, causing worry about empty shop shelves and rising prices. According to a report from the Times, the US will now lower its tariffs on Chinese products to 30 per cent, while China will reduce tariffs on American goods to 10 per cent.

The trade war kicked off when US President Donald Trump ramped up tariffs on Chinese imports to a staggering 145 per cent. China hit back hard, imposing 125 per cent duties on American products. This tit-for-tat escalation had everyone on edge, especially American farmers who rely on China to buy their corn and soybeans, and shop owners who feared they wouldn’t have enough stock to sell. The Times noted warnings that if the trade war didn’t ease up, American stores could face empty shelves, which would’ve been a nightmare for shoppers.

The announcement of the tariff cuts came after intense talks in Geneva, where US Treasury Secretary Scott Bessent met with Chinese Vice-Premier He Lifeng. Bessent described the discussions as making “substantial progress,” while He Lifeng called it an “important first step”. China’s Vice Commerce Minister, Li Chenggang, was equally optimistic, telling Bloomberg, “This will be good news for the world. As we say back in China, ‘If the dishes are delicious, the timing doesn’t matter.’” This suggests both sides are hopeful that this deal could pave the way for better relations.

The news sent ripples through global markets. The pound took a bit of a hit as the US dollar strengthened against other currencies, according to the Times. Investors seemed to breathe a sigh of relief, moving away from safe bets like gold, which dropped 2.8 per cent to $3,234.65 per troy ounce. Earlier this year, when the so-called “liberation day” tariffs were announced in April, gold had soared to a record high above $3,400 per troy ounce, as reported by Reuters. Stock markets, on the other hand, were buzzing with excitement. London’s FTSE 100 climbed 0.6 per cent, Germany’s market jumped 1.5 per cent, and France’s rose 1.3 per cent. In Asia, Hong Kong’s Hang Seng surged 3.4 per cent, and China’s SSE Composite gained 0.8 per cent, the Times reported.

President Trump, never one to shy away from sharing his thoughts, took to his social media platform, Truth Social, to call the talks a step toward a “total reset” in US-China relations. He described the negotiations as “friendly, but constructive,” and stressed the importance of opening up China to American businesses, saying, “We want to see, for the good of both China and the US, an opening up of China to American business,” as quoted by the Times. This isn’t the first time Trump has tried to strike a deal with China. Back in January 2020, he signed a trade agreement, but later accused China of not sticking to it and claimed his successor, Joe Biden, failed to enforce it, according to CNN. This led to Trump imposing a blanket 10 per cent tariff on all Chinese goods in February, prompting China to retaliate with tariffs on American agricultural products.

The Geneva talks marked the first face-to-face meeting between senior officials from the world’s two biggest economies since Trump introduced steep new tariffs last month, sparking a fierce response from Beijing. The escalating measures had American farmers and retailers on tenterhooks. Farmers, in particular, were worried about losing China as a major market for their crops, while retailers feared supply shortages. On NBC’s Meet the Press, Trump brushed off concerns about empty shelves, saying he didn’t think an 11-year-old girl “needs to have 30 dolls … I think they can have three dolls or four dolls because what we were doing with China was just unbelievable. We had a trade deficit of hundreds of billions of dollars with China,” as reported by the Times.

From Geneva, US Trade Representative Jamieson Greer explained the reasoning behind the tariffs, pointing to the massive $1.2 trillion trade deficit with China. “The president declared a national emergency and imposed tariffs,” Greer said in a statement quoted by the Times. “We’re confident that the deal we struck with our Chinese partners will help us to work toward resolving that national emergency.” This trade deficit has been a sore point for the US, with the Economic Policy Institute noting that it reflects an imbalance where the US imports far more from China than it exports, affecting jobs and industries.

The tariff cuts are a temporary measure, set to last 90 days, giving both sides a chance to keep talking and hopefully avoid another round of trade chaos. For now, the deal has brought a sense of calm to markets and businesses, but there’s still a long road ahead to sort out the deeper issues. The BBC reported that trade tensions between the US and China have been simmering for years, driven by concerns over fair trade practices, technology transfers, and market access. This latest agreement might not solve everything, but it’s a step toward easing the strain felt by farmers, shop owners, and consumers on both sides of the Pacific.

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China’s economic allure, with a projected GDP growth of around 5% for 2025, continues to draw global investors, including British firms seeking to tap its vast consumer base and innovation-driven markets. However, the country’s foreign investment regime, governed by the Foreign Investment Law (FIL) of 2019, balances openness with stringent controls, particularly in sectors deemed sensitive to national security or cultural identity. For UK businesses, navigating these restrictions is essential to unlocking opportunities in a market where bilateral trade reached £111 billion in 2022.

The Framework: Foreign Investment Law and Negative Lists

Enacted on 1 January 2020, the FIL transformed China’s approach to foreign direct investment (FDI) by replacing a patchwork of approval-based rules with a unified framework. The law promotes “national treatment,” ensuring foreign investors are treated similarly to domestic ones, except in sectors outlined in the Negative List for Foreign Investment Access. The 2024 edition of this list, issued by the National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) on 8 September 2024 and effective from 1 November 2024, reduced restricted and prohibited sectors to 29 from 31 in 2021, signalling progressive liberalisation. Prohibited sectors include news media, internet publishing, and audio-visual production, reflecting China’s tight grip on information and cultural industries. Restricted sectors, such as telecommunications and medical institutions, often require joint ventures with Chinese partners, with foreign equity typically capped at 50%.

Complementing the Negative List is the Market Access Negative List, which applies to both domestic and foreign investors. In April 2025, this list was trimmed to 106 items from 117 in 2022, easing barriers in sectors like hotel management and construction. Free Trade Zones (FTZs), such as those in Shanghai and Guangdong, operate under a separate FTZ Negative List, which is less restrictive but still enforces sector-specific rules. For example, while the 2024 Negative List lifted all manufacturing restrictions nationwide, FTZs had already relaxed these rules in 2021, offering British firms in fintech and professional services a testing ground for investment. However, inconsistencies between these lists can complicate compliance, and firms should seek expert guidance.

Sector-Specific Restrictions

Manufacturing: A New Era of Openness

The most significant reform in 2024 was the complete removal of foreign investment restrictions in manufacturing. Previously, sectors like publication printing and traditional Chinese medicine processing faced ownership caps or joint venture requirements. Effective 1 November 2024, these barriers were eliminated, allowing wholly foreign-owned enterprises to operate freely in manufacturing. This aligns with China’s “Made in China 2025” strategy, which prioritises high-end manufacturing and innovation. For UK firms in advanced manufacturing, such as aerospace or clean technology, this presents a golden opportunity to establish fully controlled operations, though local competition and IP risks remain concerns.

Services: Gradual Liberalisation

The service sector, critical for UK exporters in finance, healthcare, and technology, is undergoing cautious liberalisation. In telecommunications, pilot programmes in cities like Beijing, Shanghai, and Hainan, launched in April 2024 and expanded in 2025, relaxed foreign ownership restrictions for value-added services, including Internet Data Centres and Content Delivery Networks. The 2024 Negative List also removed foreign equity caps in app store services, reflecting China’s push to integrate AI and digital services. However, basic telecommunications services still require Chinese control, limiting foreign influence in core infrastructure.

Healthcare, a priority under the “Healthy China 2030” initiative, saw a landmark reform in 2024. A joint circular from MOFCOM, the National Health Commission, and the National Medical Products Administration permitted wholly foreign-owned hospitals in nine cities, including Beijing, Shanghai, and Hainan. This shift, effective from 1 November 2024, opens doors for UK biosciences firms, but strict regulations persist. Approvals for medical services and compliance with human genetic resource rules for research involving stem cells or gene therapy are mandatory, requiring robust due diligence.

Financial Services and Listed Companies

China’s financial sector, a stronghold for UK firms like HSBC, has seen progressive easing. The 2020 Negative List lifted equity caps for foreign investors in banking, securities, and insurance, allowing full ownership in certain financial services. In November 2024, rules for foreign investment in listed companies were relaxed, lowering the asset threshold for non-controlling investors from $100 million to $50 million and introducing tender offers as an approved investment method. These changes aim to attract capital to China’s stock markets, though geopolitical tensions and market volatility may temper enthusiasm.

Data, Cybersecurity, and Anti-Espionage Laws

China’s data and cybersecurity regulations pose significant challenges for foreign investors, particularly in tech-heavy sectors where the UK excels. The Cybersecurity Law of 2017, updated in 2024, mandates local storage of personal and “important” data and requires government approval for cross-border transfers. The Personal Information Protection Law (PIPL) of 2021 further tightens data handling, impacting firms in e-commerce and digital services. The Anti-Espionage Law, amended in July 2023, expanded its scope to include “documents, data, or materials” related to national security, raising concerns about vague enforcement. Foreign firms, including UK tech companies, must navigate these laws carefully, as compliance failures can lead to fines or operational bans. The CBBC recommends partnering with local legal experts to ensure adherence while protecting IP, especially in China’s first-to-file patent system.

Geopolitical and Trade Considerations

The U.S.-China trade war, escalating in 2025 with U.S. tariffs on Chinese goods reaching 145%, has ripple effects for foreign investors. Dual tariffs—125% on components imported into China and 145% on exports to the U.S.—complicate supply chains for manufacturers reliant on China for assembly. While the UK faces fewer direct trade barriers, China’s retaliatory measures, such as rare earths export controls in April 2025, underscore its economic leverage. British firms benefit from a stable UK-China relationship, reinforced by the UK-China Economic and Financial Dialogue (EFD) in 2025, which eased barriers in agri-food exports. However, the UK’s National Security and Investment Act (NSI) mirrors China’s scrutiny, requiring notifications for investments in 17 sensitive sectors, highlighting the need for transparency in bilateral deals.

Incentives and Challenges

China’s Catalogue of Encouraged Industries, updated in 2024, incentivises investment in high-tech fields like gene sequencing and green energy, offering tax breaks and land-use subsidies. The “24 Point Guidelines” of 2023 promote equal treatment in government procurement and streamline data flows, though local implementation varies. Despite these efforts, challenges persist. A 2023 CBBC survey found 73% of British multinationals faced restrictions, from opaque licensing to discriminatory procurement. The World Bank’s 2023 transparency score of 1.75 out of 5 reflects regulatory complexity, particularly for SMEs. Bureaucratic delays in profit repatriation and local competition further complicate operations.

Strategic Considerations for British Businesses

For UK firms, success in China hinges on strategic planning. The CBBC offers market insights and partner vetting, critical for navigating restrictions. Local partnerships can ease compliance, especially in restricted sectors like healthcare. Understanding consumer preferences and digital platforms like WeChat is vital, as is safeguarding IP through proactive registration. Collaborations, such as Westwell Holdings’ AI-powered trucks at Felixstowe port, showcase UK-China synergy in aligned sectors like AI and clean tech.

China’s investment regime is evolving toward greater openness, but restrictions in services, data, and sensitive sectors remain. For British businesses, the challenge is to balance compliance with ambition, leveraging China’s market while mitigating risks. With careful navigation, UK firms can capitalise on this dynamic economy, fostering mutual growth in a globally connected world.

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Contributing over £240 billion annually to the UK economy — more than Wales and Northern Ireland combined — the Midlands is the UK’s largest regional economy outside London and the South East. Its industrial base is remarkably diverse, spanning automotive, aerospace, life sciences and advanced manufacturing.

The region’s manufacturing sector alone generates £28 billion per year, accounting for 16% of the UK’s total manufacturing output. At its core is the automotive industry, where the Midlands remains the undisputed heartland. Jaguar Land Rover (JLR), headquartered in Coventry, employs 30,000 people in the UK, with the majority based in its Midlands plants. Meanwhile, Toyota’s Derbyshire factory — the UK’s largest car production site — produces over 180,000 vehicles annually, including the Corolla, one of the world’s best-selling cars.

But the Midlands is far more than just cars. Rolls-Royce, a global leader in aerospace and power systems, employs 12,000 people in Derby, where it manufactures jet engines and develops next-generation nuclear reactors. The region is also home to the UK’s largest cluster of space technology firms, with Leicester’s Space Park leading satellite development and propulsion systems.

Life Sciences and MedTech: A Growing Global Player

The Midlands is fast becoming a leader in life sciences, with a sector worth £9.2 billion and employing over 46,000 people. Birmingham’s Life Sciences Park, anchored by the Queen Elizabeth Hospital and the University of Birmingham, is a hotbed for medical research, particularly in genomics and cancer therapies.

Nottingham, meanwhile, has carved out a niche in medical technology. Boots, the UK’s largest pharmacy chain, was founded here, and today the city hosts 300 MedTech firms, including GE Healthcare and Siemens Healthineers, which develop cutting-edge diagnostic equipment. The East Midlands Pharma Cluster, spanning Nottingham, Loughborough, and Leicester, produces 30% of the UK’s medicines, making it a critical part of the country’s healthcare supply chain.

Digital and Creative Industries: The Rise of the “Midlands Engine”

The Midlands’ digital economy is booming, with Birmingham now ranked among the top five UK cities for tech investment. The Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP) estimates the region’s digital sector contributes £5.4 billion annually, with strengths in fintech, cybersecurity and gaming.

Coventry’s Digital Grid, a partnership between the city council and private investors, is creating a £100 million hub for immersive technology, including virtual reality and AI. Meanwhile, Space Park Leicester is pioneering satellite data applications, from climate monitoring to autonomous vehicles.

Energy and the Green Revolution

The Midlands is pivotal to the UK’s net-zero ambitions. The region hosts the UK Battery Industrialisation Centre (UKBIC) in Coventry, a £130 million facility accelerating the development of next-generation electric vehicle batteries. Nearby, Britishvolt’s gigafactory plans in the West Midlands promise 3,000 new jobs and a major boost to the UK’s EV supply chain.

Renewable energy is another growth area. The East Midlands is the UK’s leading region for bioenergy, with £2 billion invested in biomass and waste-to-energy plants. Meanwhile, Nottingham’s district heating network, one of the largest in Europe, cuts carbon emissions by 45,000 tonnes annually.

Chinese Investment: A Strategic Partnership

Chinese companies have become key players in the Midlands economy. BYD, the world’s largest electric vehicle manufacturer, has supplied 500 electric buses to the West Midlands, reducing emissions and supporting local jobs. Geely, the Chinese owner of Coventry-based LEVC (London Electric Vehicle Company), has invested £500 million in the UK, with much of its R&D based in the Midlands.

In infrastructure, China Railway Construction Corporation (CRCC) has been involved in major projects like HS2, the high-speed rail line set to transform connectivity between the Midlands and London. Meanwhile, Huawei’s partnerships with Midlands universities, including the University of Warwick, focus on 5G and AI research.

The economic impact is substantial. A 2023 report by the Midlands Engine estimated that Chinese investment supports over 15,000 jobs in the region, contributing £3.5 billion annually to the economy.

Government Support and Key Players Driving Growth

The Midlands benefits from strong government and private-sector backing. The Midlands Engine Investment Fund has injected £1.2 billion into regional businesses, while the East Midlands Freeport and West Midlands Gigafactory initiatives offer tax incentives to attract global firms.

The region offers vast potential for deeper UK-China partnerships. In electric vehicles, collaborations between Midlands automakers and Chinese battery giants like CATL could secure the UK’s EV supply chain. In rail and infrastructure, Chinese firms like CRCC could play a pivotal role in delivering HS2 and the Midlands Rail Hub. And in life sciences, joint ventures between Midlands universities and Chinese pharmaceutical firms could accelerate drug discovery.

The Midlands is not just keeping pace with global trends, it’s setting them. With world-class manufacturing, a booming tech scene, and strong international ties, the region is poised for even greater success.

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