Business Legacy 14:00-14:15 GMT 04-SEP-2012 WF
Date Shot: 03-SEP-2012
Country: UNITED KINGDOM
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Dopesheet: London Media Centre features - Paralympic games.
Olympic Business Legacy
Business meetings, political dialogue, debates and exhibitions have all been taking place here to showcase the UK?s potential to China and the rest of the world.
The Olympic summer has been a perfect public relations exercise for the UK. The aim now is to turn that into long-term business and financial benefits in the Asian Century.
Featuring Interviews with:
James Hunter Johnston, Product & Marketing Manager, NVC
Lord Green, UK Minister of State for Trade and Investment
Mr. Ou, MD, China Telecom Europe
Parvinder Bhatia, MD, Prime Focus World
Craig McKelvie, Store Manager, Bosideng
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Refer to www.londonmediacentre.co.uk for information regarding London Media Centre registration process and the services offered during the London Olympics and Paralympics.
Shotlist: The content is provided in two versions:
1. With Graphics (Tracks 1+2: Stereo Music and Effects. Track 3: English Voice Over. Track 4: Effects Only)
2. Clean (Tracks 1+2: Stereo Music and Effects. Track 3: English Voice Over. Track 4: Effects Only)
- Edited package, clean version (00:05:22)
- Edited package, dirty version (00:05:22)
- Rushes package (00:02:07)
Various at NVC
Various London Olympic atmosphere
Various China Telecom Europe
Various Prime Focus
Various Bosideng store
10:00:00 OPENING GFX
Alongside where once was Rover's car plant in Birmingham. Since 2009 it's been the European base of Chinese lighting giant NVC.
The company designs and supplies commercial and industrial lighting. It provided the illumination for Beijing's Olympic stadium during the 2008 Games.
NVC is just one example of the growing economic might of China as it opens up to the world. But China's global expansion all started at home.
SOT James Hunter Johnston, Product & Marketing Manager, NVC: We are a supplier of products that goes into the construction industry, in one form or another. And the construction sector in China has been growing particularly strong over the past few years as there has been this gradual move of people from the countryside into the towns. That fuelled an enormous growth in the construction industry and we are supplying to that industry. So that helped the growth as well. And then finally of course just in the last couple of years the company has actually floated on the Hong Kong stock exchange and that has enabled us to raise an awful lot of capital, which is now available for investment and further expansion.
Currently the UK's exports to China value about 6 billion Pounds, while Chinese imports into the UK are near the 25 billion mark.
China's foreign direct investment in the UK is worth more than 200 million Pounds, and keeps growing.
SOT James Hunter Johnston, Product & Marketing Manager, NVC: One of the first things we did when we started up here in the UK in 2009 was bring in our own capability here in the UK first of all to design product. So what we now do is we design product here in the UK, send the drawings over to China, get the products made in China and then they come into the UK. So that is really important because that means that we are getting product into the UK at the right price, but it looks and feels and performs exactly like a UK designed, UK made product.
The short-term strategy of NVC is to move more manufacturing to the UK itself. And its European base will retain a strong creative design input in the production of its lighting range.
The spotlight is on the UK right now because of the Olympics and Paralympics. Business meetings, political dialogue, debates and exhibitions have all been taking place here to showcase the UK's potential to China and the rest of the world.
SOT Lord Green, UK Minister of State for Trade and Investment:
We have now a substantial agenda of follow up action. So we are going to ensure that this is not just a flash in the pan. This is the start of a new relationship in business that is very international, that is very focused on presenting the huge range of really world class opportunities that are for trading with Britain and for investing in Britain.
Telecommunications is a booming, competitive market where China Telecom wants its piece of the pie.
The super large state-owned company came to the UK in 2006 and has seen impressive growth figures of around 70% annually.
London was seen as the obvious choice to be China Telecom's European gateway.
SOT Mr. Ou, MD China Telecom Europe: I think London is a financial centre. And also it is a telecommunications hub in Europe. And thirdly it is a friendly investment environment. And finally I think it's the language. English is a popular language in the world. This is a very unique position. So we chose UK.
The expansion plans are clear. A growing footprint across the whole of Europe, Africa and the Middle East. All steered from its London base.
The 21st Century has been described as the Asian Century. And India is part of that growing business powerhouse.
And again, that economic expansion is benefiting London.
This Indian owned audiovisual company in Soho creates visual effects and 3D productions for major film studios in Hollywood and Bollywood. The company sees London as the perfect bridge between its operations in Los Angeles and Mumbai.
SOT Parvinder Bhatia, MD, Prime Focus World: The most important thing is talent, I think London gives us access to some of the brightest talents in post production and visual effects sector. London provides us with the centre piece of our operations and the movement of our work between the North American, London and the Asian businesses.
Tax breaks for high tech companies are already an incentive and it's hoped that the Olympics will have been the catalyst for further foreign investment.
Asian investments into the UK can come from a wide variety of business sectors. Just before the start of the Olympic Games, Chinese clothing giant Bosideng opened its first store outside China and it was here in London. A 33 million Pound investment into a flagship store, with expansion already in its sight.
SOT Craig McKelvie, Store Manager, Bosideng: Bosideng is an Asian company. They have around about 10000 stores in China and renowned for their down-wear. Come over into the UK market to create this line, the Bodiseng-London line, and really I think over the next few years is looking to try to that that into the European market, and possibly it may go into the likes of Paris and Milan.
The Olympic summer has been a perfect public relations exercise for the UK ? the aim now to turn that into long-term business and financial benefits in the Asian Century.
Id Item: 627098
Tx_Time: 14:00 - 14:15 Tx_Date: 04-SEP-2012 Status: TRS
Origin: ZZEBU Origin City: GNVE
Item type: WF