UK firms forge new ties in Shanghai ahead of 'Our Water' campaign

A delegation of 14 UK technology companies visited Shanghai to explore business opportunities ahead of this year's "Our Water" cultural exchange campaign.

Led by London's deputy mayor for business, Howard Dawber, the group spent six days in the city, meeting Chinese companies in fintech, professional services, sustainable technology, and creative industries.

"Shanghai and London share the same DNA – we're river cities, trading cities," Dawber said. "I think there's very much we can learn from each other as we tackle shared challenges, but also take advantage of shared opportunities at the start of a completely new revolution in the way we do business using artificial intelligence."

Among the UK firms, green tech company TipaSolar explored China's sustainability sector, while fintech firms Abound and SendSpend focused on digital payments and cross-border transactions.

Tracy Anderson, joint CEO of SendSpend, said the trip resulted in a partnership with a Chinese KYC (know-your-customer) service provider to help Chinese firms enter the European market. "We've also met with Alibaba and Tencent, hoping to integrate as a payment gateway on their platforms. Next, we plan to set up in Hong Kong and establish offices in Shanghai."

Beyond business, the visit aimed to strengthen ties between the two cities' waterfront areas. Following a previous collaboration with the Seine in Paris, Suhe Bay – an area along Suzhou Creek – is working to build connections with London's Thames through "Our Water," an initiative promoting cultural exchange through urban waterways.

This year's "Our Water" will begin in London in June, followed by Shanghai in September, with forums, industry discussions, and cultural events planned in both cities.