UK and China discuss economic and trade relations

10 Nov 2016

A meeting between the Chancellor Philip Hammond and China’s Vice Premier Ma Kai is due to take place this week, where they will discuss the next steps for economic and trade relations between the UK and China.

The talks, the eighth UK-China Economic and Financial Dialogue (EFD), are aimed at intensifying the UK’s trading relationship with China and showcasing Britain as one of the best places in the world to do business. The focus will be on trade, investment, financial services and energy.

Whilst formal trade negotiations can only start once Brexit has taken place, China and the UK can discuss the topic.

“The golden era in UK China relations continue to deepen. With our complementary bilateral trade ties, China and the UK remain natural partners and building on this relationship will form the cornerstone of this year’s dialogue,” said Mr Hammond.

“The mutual benefits are clear. China is the world’s second largest economy; UK exports to China have grown rapidly and Britain is home to more Chinese investment than any other European country. With a strong focus on infrastructure investment, trade and financial services, I look forward to constructive talks with the Vice Premier and his delegation.”

Prime Minister Theresa May said: "I’m determined that as we leave the European Union, we build a truly global Britain that is open for business. That is the message I took to India this week, and that’s the message I will be giving Vice Premier Ma Kai on his visit to the UK.

"As we take the next step in this golden era of relations between the UK and China, I am excited about the opportunities for expanding trade and investment between our two countries."

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