Prime Minister Theresa May has held out the prospect of greater cooperation between the UK and China in areas such as financial services, agriculture and education.

Prime Minister visits China

On the first day of her visit to China, accompanied by more than 50 British business leaders, Mrs May met Premier Li Keqiang inside the Great Hall of the People in Beijing to “consider how we can build further on the global strategic partnership that we have been working on between the UK and China”.Mr Li said after the meeting that he had “faith in the brighter prospects of China-UK ties”. He said that the two leaders had agreed to “uphold free trade and advance globalisation” and announced that Chinese markets would be further opened up to Britain and that UK agricultural products would be allowed into China to “give the Chinese consumers more options in accessing higher-quality agricultural products”.He said that Britain’s decision to leave the European Union would make no difference to bilateral relations between China and the UK.

Trade between UK and China

Mrs May added, “Trade between our two countries is already at record levels, worth over £59 billion. UK exports to China have grown by over 60 per cent since 2010, and the UK is already one of the largest European recipients of Chinese foreign direct investment.“We have also agreed to open up the Chinese market to enable our great UK financial services expertise to reach more Chinese consumers.“And we’ll be pleased to welcome a significant number of major new commercial deals due to be agreed during this visit, expected to total over £9 billion, creating and securing jobs and prosperity both here and in the UK.”Mrs May went to say that there was a pressing need for clear international rules in areas such as intellectual property rights. “We will work together to encourage free and fair trade, ensure a transparent rules-based multilateral trading system and build an open global economy that works for all,” she said.“As partners committed to global free trade we can work to ensure that as our companies innovate and develop new products, they are confident that their intellectual property and rights will be fully protected, including against cyber threats.”

---

Related stories:

• ‘Honour pledge on cheaper Chinese visas’, says BA chief
• Chorus of calls for Brexit clarity over financial services
• Which Asian cities are most expensive for expat rentals? 

---

Education links between China and the UK

Before her arrival in China, Mrs May revealed new education links between the two nations, to include the extension of a maths teacher exchange programme and a campaign to promote English language learning in China.In an article in the Financial Times, the prime minister said her visit “would intensify the golden era in UK-China relations”, although she emphasised that China must adhere to free and fair trade practices.

Political concerns

She acknowledged in the article that the two countries did not see “eye-to-eye” on a number of issues, such as democracy in Hong Kong, and she said she would raise concerns from UK industry over the over-production of steel and the protection of intellectual property against piracy.Business representatives travelling with Mrs May, who will hold talks later with Chinese President Xi Jinping, include executives from BP and Jaguar Land Rover, as well from SMEs and universities including Manchester and Liverpool.

Sino-British relationship ‘success story’

Carolyn Fairbairn, director-general of the Confederation of British Industry, who is travelling with the prime minister, said, “The Sino-British relationship is a tremendous success story. From services to schools, and iPhones to tea, our countries have a special and integral place in each other’s lives.“British businesses are keen to play their part in further deepening and engraining the economic ties between China and the United Kingdom. With the consumer market alone worth over £3.3 trillion, this relationship creates thousands of jobs in the UK and China, raising living standards and boosting productivity.“As the UK forges a new global trading future, it is well ahead of the curve in making the most of its relationship with the world’s fastest growing economy. By making inroads into China’s lesser economically known regions, the UK stands to profit from China’s move from manufacturing and infrastructure into technology and services, writing a new chapter in the golden era of relations.”

---

Read more about the future of UK business in the Winter issue of our magazine 

---

For related news and features, visit our Enterprise section. Look out for the launch of 2018’s Relocate Awards, entry is now open. Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.Access hundreds of global services and suppliers in our Online Directory 

©2024 Re:locate magazine, published by Profile Locations, Spray Hill, Hastings Road, Lamberhurst, Kent TN3 8JB. All rights reserved. This publication (or any part thereof) may not be reproduced in any form without the prior written permission of Profile Locations. Profile Locations accepts no liability for the accuracy of the contents or any opinions expressed herein.