The Chinese economy is one of the largest in the world and, with average growth of more than ten per cent a year, it is set to become ever more prominent. As a rapidly expanding industrial nation, China has many environmental and development concerns, and it is increasingly looking outside its own borders to bring in expertise and solutions to tackle these issues.

As a result, it is looking to invest in, and attract, expertise from the UK. In February an investor and business delegation from Chongqing, the third fastest developing city in China, visited Oxford.

Professor Li Shirong, president of the Chartered Institute of Building and deputy director of the Chongqing Foreign Trade and Economic Commission, highlighted the need for the transfer of foreign expertise into the Sichuan Province.

Chongqing city is promoting innovation centres to foreign companies as doorways into the Chinese market, the business community and manufacturing opportunities. The centres are similar to the ones that have been successfully implemented here in Oxfordshire and that have been supporting start-up businesses for the last two decades.

Setting up business in most foreign countries involves understanding large amounts of policy and meeting tomes of regulations. It is hoped these centres can help alleviate the stress associated with starting up businesses in Chongqing and foster the transfer of knowledge between the countries.

So what is in it for Oxfordshire business? The innovative approach to attracting business and expertise through a supportive framework built around proven methodology could help companies establish Chinese-based offices.

The county has felt the benefits of the science parks and incubators, so we know how these models nurture and promote business.

It is also an opportunity for Oxfordshire companies to take their current products into a huge and expanding market and to transfer knowledge and opportunities back home.

Dr Lei Zheng, the local representative of the Chinese Innovation and Development Agency (CIDA), said: "It is like a portal between the two regions. Companies with offices in both locations will be able to form knowledge bridges between the two economies and transfer expertise, innovation and contacts between the two countries."

This could have knock-on effects for other Oxfordshire businesses.

"Companies that do not have the resources to open Chinese offices will still be able to benefit from business contacts making the move and opening market opportunities," added Dr Zheng.

Some of the environmental issues that Chongqing is seeking to address are relatively simple but can have a huge impact, for example with household lighting.

Dr Zheng explained: "Chongqing has a population of 32 million people which means a lot of light bulbs and demand for electricity.

"The city is eager to find appropriate technologies that will help lower the current and projected energy usage for lighting."

There are many options available, from energy efficient light bulbs to LEDs, and the city is interested in exploring all options.

Reducing energy consumption can also have implications for air quality which, together with water quality and other environmental issues is high on the agenda.

To increase awareness and foster links between China and the UK, CIDA is organising a number of initiatives.

It is hosting a 21st Century China-UK Entrepreneurship competition, to bring together innovative thinkers from both countries.

The competition will provide a platform for businesses, students, and anyone with an interest in China, to use their creativity and entrepreneurial spirit to develop business links between China and the UK.

The promotion of the competition in China is a fantastic media platform for company exposure and for promoting trading and investment opportunities between the regions.

The competition is the final stages of judging after which four finalists, a mix of entrants from both the UK and China, will go head-to-head in the final event.

Business plans were received from a number of UK universities, including Oxford University.

Projects from China come from a broad range of universities, companies, research institutes and other individuals.

Wang Shutong, deputy consul general for China, stressed the growing importance of UK-China business relationships, and the increased importance of entrepreneurial skills in developing the Chinese economy.

He praised CIDA for its initiative in setting up this important competition which is unique in that it is the first of its kind to be sponsored by the Chinese government and institutions in the UK.

The contest already looks set to expand in the near future as Dr Valeria Passetti, the Consul of Italy to Britain, has asked for Italy to be involved in the next event. Business involvement in international events like this can only increase Oxfordshire's standing as a world-class region for innovative science and high-tech enterprise.

o Contact: Dr Lei Zheng, China Innovation and Development Agency (UK), 07796 153342 o This page is compiled by The Oxford Trust www.oxtrust.org.uk