China, Britain hold trade talks

BEIJING - China and Britain Tuesday discussed bilateral economic ties in Beijing ahead of a visit by British Prime Minister David Cameron.

Chinese Vice Premier Wang Qishan and British Chancellor of the Exchequer George Osborne co-chaired the third China-UK Economic and Financial Dialogue, which preceded meetings to be held later Tuesday in Beijing between Cameron and Chinese leaders.

China hoped the two sides could conduct thorough discussions on strategic, long-term and overall issues regarding bilateral economic ties, so as to inject vigour into the Sino-UK relationship, Wang was quoted as saying by Xinhua.

The dialogue coincides with the official two-day visit of Cameron, who arrived in Beijing Tuesday morning.

Wang called on the international community to uphold the spirit of constructive cooperation, fight trade protectionism and avoid politicising economic issues.

“All countries should work together to contribute to robust, sustainable and balanced growth,” he said.

Changing the economic development pattern and adjusting the economic structure was the path to economic sustainability of China and Britain, Wang said.

“We hope China and Britain can further pragmatic cooperation, making high-end manufacturing, the green economy, infrastructure and financial services new highlights of our partnership,” said Wang.

He said China hoped Britain would make substantial efforts to lift restrictions on exports of advanced technologies to China, to recognise China’s market economy status and create a pro-investment climate for Chinese enterprises in Britain.

The central objectives of resisting protectionism, reducing trade and investment barriers, developing new markets, expanding world trade, and seeking progress on the Doha round of international trade talks were all the cornerstones of shared values, said Osborne.

“I believe a close collaboration between the UK and China will help the world navigate its way through these uncertain times,” Osborne said.

It is the first economic and financial dialogue between the two countries since Cameron took office in May.