{"id":7170,"date":"2021-03-01T16:44:47","date_gmt":"2021-03-01T16:44:47","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=7170"},"modified":"2021-03-04T04:18:04","modified_gmt":"2021-03-04T04:18:04","slug":"tou-ying-tracker-confirms-chinese-companies-invest-more-in-the-uk-economy","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/tou-ying-tracker-confirms-chinese-companies-invest-more-in-the-uk-economy\/","title":{"rendered":"Tou Ying Tracker reveals the scale of Chinese investment in the UK"},"content":{"rendered":"

Chinese-owned companies contributed \u00a392 billion to the UK economy in 2020, including the likes of Gate Gourmet and Clarks. Now in its eighth year, Grant Thornton\u2019s Tou Ying Tracker research confirms the scale of the country’s contributions<\/h2>\n

The Grant Thornton 2020 Tou Ying Tracker, developed in collaboration with CCCUK (China Chamber of Commerce in the UK) and China Daily, identifies the fastest-growing Chinese companies in the UK.<\/p>\n

To compile the 2020 Tou Ying Tracker, Grant Thornton identified all Chinese-owned companies that have filed an audited revenue figure of at least \u00a31,000 at Companies House in at least one of the last two financial years to 30 September 2020, and that are at least 50% owned by a Chinese\u00a0<\/span>corporate, investor or national. This year, 838 such companies were identified. This compares with 795 in 2019.<\/p>\n

Together, the 838 companies have combined revenues of \u00a392 billion (up from \u00a391 billion in 2019) and report overall revenue growth of 12% (down from 17% in 2019). Between them, they employ almost 75,240 people (up from 71,000 in 2019).<\/p>\n

These 838 companies represent only a fraction of Chinese companies doing business in the UK. In total, over 15,000 companies were identified that are part of a China-owned corporate group or are majority held by a Chinese national, up from some 13,000 last year.<\/p>\n

The biggest Chinese-owned companies employ more than 75,000 people in the UK and contributed total revenues of \u00a392 billion to the country\u2019s economy last year.<\/p><\/blockquote>\n

Tou Ying Tracker continues to expand<\/h4>\n

This is the third consecutive year that the number of Chinese businesses in the Tou Ying Tracker has expanded. The number of Chinese businesses operating in the UK has grown by 5% from 2019, highlighting the continuing attraction of the UK as an investment destination for Chinese businesses. New entrants this year include Bright Scholar, Gate Gourmet London Ltd, Guidedraw Ltd, Lander Sports (UK) International Investment Co Ltd, and Stemcor London Trading Ltd.<\/p>\n

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Chinese-owned businesses contribute to regional economies and employment<\/h4>\n

The number of UK jobs created or supported by Chinese investment also continued to rise for the second consecutive year. Of the total, 53% of employees working for Chinese companies registered in London and the South East. The remainder (47%) \u2013 over 35,360 people \u2013 are employed in the 10 other regions of the UK, including the North West, East of England and West Midlands. Most employment (63%) is accounted for by companies filing revenues between \u00a350 million and \u00a31 billion.<\/p>\n

Focus on mid-market companies reveals true spread of investment<\/h4>\n

The revenues generated by Tou Ying Tracker companies are driven primarily by a small number of large manufacturing and industrial companies with revenues over \u00a31 billion. However, a closer focus on mid-market companies (with revenues less than \u00a31 billion but greater than \u00a350 million) reveals that Chinese investors are active across a range of sectors. Technology, media and telecoms, business support services, and consumer are all well represented.<\/p>\n