My family's connection to China dates back to 1952, when my grandfather made the first trade with China by selling wool tops. This first deal laid the groundwork for future partnerships. In 1953, my grandfather led the "Icebreaking Mission", which was crucial in signing the first trade agreement between the newly founded People's Republic of China and the West.
Over the past seven decades, the China that my grandfather first got to know has undergone huge transformation, and as the Chinese people celebrate the 75th anniversary of the PRC this October, it is important to recognize that the modernization of a country with a population of 1.4 billion is not just about internal development — it has implications for the entire global order.
China's modernization is redrawing the international landscape in profound ways. The country's focus on technology, green development and infrastructure is a model for other developing nations to follow. By combining innovation with practical application, China is demonstrating how modernization can be achieved without sacrificing sustainability or social equity. As China prepares and plans for the next 30 years, we will see the renminbi being used to settle trade and China as the leader in currency settlement.
China's Belt and Road Initiative is a clear example of how the country's development is reshaping international trade routes, creating opportunities for countries across Asia, Africa and Europe. It is not just about building roads or railways but about fostering long-term economic partnerships that will benefit all parties involved. China's modernization is deeply connected to its vision of a shared future — one where economic growth, technological innovation and environmental sustainability go hand in hand.
China's expertise in sectors such as electric vehicles, renewable energy and artificial intelligence holds great promise for nations, particularly developing countries that are looking to modernize their own industries. The most significant opportunity lies in China's ability to help other countries establish new manufacturing models that are both sustainable and efficient. Imagine factories powered entirely by renewable energy, with minimal carbon footprints and reduced labor costs. China has the potential to lead the way in creating these factories, not only within its own borders but internationally.
By exporting technology and expertise, China can help create jobs, spur economic growth and reduce the environmental impact of industrialization worldwide. This is a vision of the future where China's advancements benefit everyone, not just its own population. China's modernization efforts are not inward-looking; they are part of a broader global strategy that recognizes the interconnectedness of the modern world.
At London Export Corporation and the 48 Group, we have always believed in the power of trade to build bridges between nations. I have seen firsthand how globalization can open new markets and create opportunities for growth. The lessons we have learned are now being applied to other ventures, as we continue to explore ways to expand trade and investment between China and the rest of the world.
Over the years, we have expanded beyond traditional commodity trade into life sciences, biotechnology and high-tech industries. Our company has played a significant role in fostering trade between China and the United Kingdom, with a particular focus on medical technology and data exchange platforms. Through our subsidiary LEC Global Capital, we have also established a fund in China to facilitate investments in critical sectors such as hospitals and high-tech medical facilities.
Looking ahead, I am confident that China's modernization efforts will continue to drive progress not just at home, but around the globe. As China invests in new energy and sustainable development, it is laying the foundation for a future where economic growth and environmental stewardship go hand in hand.
Our journey with China began in 1952 with a simple trade in wool tops, but today it represents so much more — a commitment to building lasting relationships, sharing knowledge, and working together to solve the challenges of the future.
China's modernization is not just a story of economic growth; it is a story of transformation that has the power to reshape the world. As we move forward, I am excited to see how China's journey will continue to inspire and lead the way for others, and I am proud to be a part of this ongoing relationship.
The author is chairman at The 48 Group and CEO of London Export Corporation.
