Britain has relaunched a platform for “respectful and consistent” future relations with China, as it tries to cash in on the growth of the world’s second-largest economy and the further opening of its financial markets.
With this “pragmatic cooperation”, the two countries reached agreements worth £600 million (US$732.3 million) to Britain over the next five years, the British government said in an online statement, estimating their value could eventually climb as high as £1 billion.
In a Monday press conference held by China’s Ministry of Foreign Affairs, spokesman Guo Jiakun said the dialogue is “conducive to development” for both sides. The two are “opposed to decoupling” and would “reduce obstacles for investments”, he added, calling the financial sector a “highlight” of the relationship.
“Financial services cooperation is probably low-hanging fruit for bilateral engagement,” said Xu Tianchen, a senior economist with the Economist Intelligence Unit market research firm.
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