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Shanghai-London link to drive growth

By Xu Wei | China Daily | Updated: 2018-08-01 10:42
Pedestrians walk past the London Stock Exchange Group Plc's offices in London, UK, May 30, 2017. [Photo/VCG]

Premier Li Keqiang has called on China and the United Kingdom to cultivate new growth drivers of cooperation through the Shanghai-London Stock Connect-allowing investment from corresponding markets much freer access-which is set to be launched this year.

Li's remark came as he met with UK Foreign Secretary Jeremy Hunt at the Zhongnanhai leadership compound in Beijing on Monday.

The two sides should give play to complementary strengths and explore cooperation in various fields, he said.

Li said that China will create a more enabling environment for foreign businesses, including those from the UK, and hopes the UK also will provide solid institutional safeguards for Chinese enterprises investing in the UK.

The premier said that China stands ready to continue to uphold the principle of mutual respect and equal treatment with the UK, and move forward with comprehensive development of bilateral relations and cooperation.

As permanent members of the United Nations Security Council and two of the world's major economies, China and the UK should work together to uphold multilateralism and safeguard the open world economy, he said.

They should also take responsibility to safeguard the international order and system, guided by the purposes and principles of the United Nations Charter as the core as well as the multilateral trading system based on the World Trade Organization, Li said.

The two sides should help inject constructive strength for the stability of the world, he added.

Hunt said the golden era of China-UK relations is unfolding and there is much room for bilateral cooperation, according to a statement released after the meeting.

The UK looks forward to a new round of the annual China-UK prime ministers' meeting next year, and is ready to continue to deepen mutual political trust and step up alignment in strategies with China, he said.

With the world at a critical juncture, the two sides should enhance communication and coordination and jointly uphold multilateralism and free trade and safeguard the rules-based international order, he said.

Hunt co-chaired the 9th China-UK Strategic Dialogue with State Councilor and Foreign Minister Wang Yi at the Diaoyutai State Guesthouse on Monday.

During the dialogue, the two sides agreed to focus on promoting cooperation in nuclear power, finance and innovation and expanding cooperation in new industries like artificial intelligence, green energy and the digital economy.

It is Hunt's first visit to China as well as his first trip outside Europe since he was appointed foreign secretary this month.

After the trip, Hunt will visit France and Austria, meeting their foreign ministers, Jean-Yves Le Drian and Karin Kneissl, respectively, and trying to gain support for Brexit proposals set out by Prime Minister Theresa May, according to Reuters.

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