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(Yicai Global) Feb. 5 -- British Prime Minister Teresa May, accompanied by a large business
delegation, visited China January 31- February 2. She met with China’s President Xi Jinping
and Premier Li Keqiang. Her visit was this year’s second visit by a head of government of a
major western country following French President Emmanuel Macron’s state visit last
month.
China and Britain agreed to embrace a "golden era" in bilateral relations during President Xi
Jinping's visit to Britain in October 2015. The two sides signed 59 trade and investment
agreements at that time with a total amount of more than CNY400 billion (USD63.4 billion).
The "golden era" of ties between the two nations opened during President Xi Jinping’s visit
to Britain in 2015 is of great significance to the in-depth development of bilateral relations,
said Barbara Woodward, the British ambassador to Beijing, recently. Prime Minister
Theresa May’s visit to China is the continuation of the cooperation between the two nations
and is attached much importance as it is expected to inject new impetus for the promotion
and upgrading of the "golden era" of the bilateral ties.
Official data show that bilateral trade between China and Britain last year reached
USD79.03 billion, up 6.2 percent annually, of which, imports grew 19.4 percent and exports
increased 1.8 percent. Data from the UK’s Department for International Trade show that the
total trade in goods and services between Britain and China in 2016 reached GBP59.1
billion, up 8.9 percent over 2015. Given the slowdown in global economy and trade growth,
bilateral trade between China and Britain has maintained strong growth momentum. This
shows the scope of deep and steady economic and trade relations between the two
countries.
"China-UK trade and economic cooperation has reached a new level last year. We believe
the economic and trade cooperation between China and Britain will develop in a larger
scope and at a higher level," said Jin Xu, minister counselor of the economic and
commercial office at the Chinese embassy in London.
"China as a world leading economy and the UK’s fifth largest trading partner is an important
market for British companies as we look to build independent trading relationships across
the world,” said British international trade secretary Liam Fox who visited China at the start
of this year ahead of his second visit with PM May.
“As an international economic department, we want 2018 to be the year of exporting with
businesses across the UK seizing the opportunities that the world provides. That’s why
we’re determined to make exporting even easier, and we have announced we’re making up
to £25 billion of funding available for UK exporters and buyers of UK goods and services
along the Belt and Road Initiative so that no viable export fails for a lack of funding,” he
added.
President Xi Jinping said during a session of the Politburo of the CPC Central Committee on
January 31 that China should make efforts to develop an open economy, enhance
international competitiveness of the modern economic system, make better use of global
resources and markets and continue to actively promote international exchange and
cooperation under the framework of Belt and Road Initiative.
In November this year, China will host the first China International Import Expo in Shanghai,
a major move to promote a new round of high-level opening to the outside world.
Representative companies from more than 100 countries and regions and over 150,000
buyers will participate in this global trade event. There is no doubt that 2018 will be a new
starting point for China's opening up to the outside world and the deepening of bilateral
economic and trade cooperation between China and Britain.
President Xi Jinping stressed during his meeting with British Prime Minister Teresa May that
common prosperity, peace, development and win-win cooperation have been the
mainstream of the times with the development of a multipolar world, economic globalization
and cultural diversity. The two nations need to conform to the trend of the times, respond to
the needs of their respective development stage and bilateral cooperation, and add new
meaning into the bilateral ties so as to forge an enhanced version of the "golden era."
Prime Minister Theresa May said at the inaugural meeting of the China-UK entrepreneurs’
council that Britain will remain open after leaving the European Union and that Britain and
China are expected to establish more extensive economic and trade relations to open up
new era of cooperation and partnership. We look forward to jointly building "global Britain"
and "global China" for the benefit of both countries and the peoples of the world.
As the world's second-largest economy, China has a huge potential market for British
exporters. Total retail sales of consumer goods in China have equaled to that of the US last
year and China will import more than USD10 trillion worth of goods and services in the next
five years. China has tremendous trade opportunities and we want to help British
businesses make the most of this. This is why I will bring a large business delegation
together. This delegation covers a wide range of industries, representing all aspects of the
United Kingdom and areas of expertise in the UK. My visit this time will further promote the
“golden era” of UK-China relations, said Theresa May before leaving for China.