China-UK talks set stage for advancing trade cooperation

China is willing to work with the United Kingdom to accelerate the joint feasibility study for a bilateral services trade agreement, creating favorable conditions for further expanding cooperation in this area, the Ministry of Commerce said in an online statement on Friday.

Co-chairing the 15th meeting of the China-UK Joint Economic and Trade Commission with UK Secretary of State for Business and Trade Peter Kyle in London on Thursday, Chinese Commerce Minister Wang Wentao said China welcomes greater investment from British companies and hopes the UK will provide a fair, equitable and non-discriminatory environment for Chinese companies investing in the country.

Wang said China and the UK, as important members of the World Trade Organization, should work together to implement the outcomes of the 14th WTO Ministerial Conference.

During the meeting, the Chinese side expressed serious concern over the UK's new steel trade measure, which took effect on July 1, and urged the UK to adjust the measures as soon as possible to ensure they are consistent with WTO rules.

Kyle said economic and trade cooperation is an important pillar of UK-China relations. China's rapid development of its services sector has created significant opportunities for British businesses.

The UK is willing to strengthen policy communication with China and expand cooperation in the services sector through the China-UK Bilateral Services Partnership and the joint feasibility study on a UK-China services trade agreement, Kyle said.

"The UK welcomes investment from Chinese companies and is committed to providing greater certainty and predictability for investors," he said, adding that the British government is also willing to make good use of the UK-China WTO working group to enhance policy communication and coordination with China, and to advance positive progress on issues including WTO reform and e-commerce.

In a separate statement released by the Ministry of Commerce, Wang also chaired a roundtable meeting with Chinese-funded enterprises operating in the UK on Thursday in London.

More than a dozen executives from Chinese companies in sectors including finance, insurance, new energy, automotive, retail, and telecommunications, as well as representatives from the China Chamber of Commerce in the UK, attended the meeting, the statement said.

Participants briefed the Chinese commerce minister on their business operations in the UK and raised specific requests regarding safeguarding their overseas interests and expanding practical cooperation.