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November 12, 2016

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China to deepen cooperation and ties with Britain

CHINA is willing to deepen cooperation with the new British government and continue to enhance partnership, said Chinese Vice Premier Ma Kai on Thursday.

Ma made the remarks when co-chairing the eighth China-Britain Economic and Financial Dialogue with British Chancellor of the Exchequer Philip Hammond.

Sixty-three outcomes were reached after the two sides held fruitful discussions on the macroeconomy and relevant policies, trade investment and market access, financial service and market, as well as infrastructure and industrial strategies.

Ma said that in September, leaders of the two countries met in Hangzhou, where they reaffirmed the commitment to working together for the “Golden Era” of bilateral relations, and for practical cooperation in economic and trade relations.

Ma pointed out that the China-Britain Economic and Financial Dialogue, a high-level mechanism to implement the two sides’ economic and financial cooperation, has become irreplaceable in deepening strategic communication, promoting comprehensive cooperation and enhancing bilateral and multilateral coordination.

The first high-level dialog between the two governments after the Hangzhou meeting is also the first of its kind held after the new British government took office, Ma said.

He added that the meeting is expected to offer a platform for the two sides to implement the consensus of leaders of the two countries and make plans for the bilateral pragmatic economic and trade cooperation in the future.

This year is the start of the “Golden Era,” and next year marks the 45th anniversary of the establishment of the bilateral ties, Ma said, adding China is willing to deepen cooperation with the British government, continue dialogs, and further the China-Britain comprehensive global strategic partnership for the 21st century.

For his part, Hammond said that the successful visit to Britain by President Xi Jinping in October last year marked the coming of the “Golden Era” for the bilateral ties. The British side congratulated China on its successful hosting of the Group 20 Summit in Hangzhou this September. He said the two sides work closely together under the G20 framework, and respond effectively to various risks and challenges.

In recent years, the bilateral trade has maintained steady growth, and Britain has attracted more Chinese investment than other European countries, a fact that has demonstrated the vitality of bilateral cooperation, he said.

Hammond said as China’s partner, Britain is committed to benefiting more from the partnership, and is willing to promote the lasting development of the “Golden Era.”

China and Britain agreed to further promote the strategic docking of British regional development plan and China’s “Belt and Road Initiative” as well as “Strategy of UK Industry 2050” and “Made in China 2025,” to enhance the level of investment and trade cooperation.

The two nations agreed to take Hinckley Point project as an opportunity to deepen cooperation in such fields as civil nuclear power, high-speed railway and aerospace projects.

They also vowed to promote the normalization of financial service cooperation, strengthen exchanges on financial supervision, and cooperate in green and inclusive finance as well as financial science and technology.


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