Chinese and British executives have gathered in London to talk business. The annual China-UK Economic and Trade forum in London was attended by both China's UK Ambassador and Britain's investment minister.
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00:00This is the seventh such forum organized by the Chinese Chamber of Commerce in the UK,
00:06which represents the interests of Chinese businesses in Britain.
00:10This year's theme is Pursuing New Opportunities, Unfolding a New Chapter.
00:16This is a very important forum because of the timing and the change in external environment.
00:22We now have a new government in the UK and that's allowing a reset of the UK-China relationship.
00:29There's clear benefits from both countries collaborating.
00:32So this forum allows the key issues to be addressed.
00:35The forum attracted around 400 attendees.
00:39This meeting comes just days after Prime Minister Keir Starmer held talks with President Xi Jinping,
00:46both sides talking up the prospects of economic cooperation.
00:50But there's also growing uncertainty over how the proposed changes in US leadership
00:56will impact on world trade policies next year.
01:01China's ambassador to the UK gave this year's keynote speech,
01:05making direct reference to the historic meeting in Brazil.
01:10President Xi stressed that China and the UK, both permanent members of the UN Security Council
01:16and major economies in the world,
01:19share the responsibilities of advancing their respective national development
01:24and addressing global challenges.
01:26We stand ready to work closely with the UK government
01:30to follow up on the common understanding between our two leaders
01:35and enhance dialogue, communication and collaboration wherever possible.
01:41Total trade between the countries stood at around $120 billion in 2023,
01:47according to the UK government,
01:50but that's almost 20% down on the previous year.
01:54The new Labour government's top priority is economic growth,
01:58and the other keynote speaker was Britain's Minister for Investment.
02:02Both our countries recognize the importance of a strong UK-China relationship.
02:09Yes, there are areas that we differ on aspects of international trade and foreign policy.
02:15We can't wish these differences away,
02:17but what we can do is engage in a constructive dialogue on them,
02:22because that's how we drive growth together
02:25and realize a more prosperous future for both the UK and for China.
02:31The minister told the forum that Britain has agreed to resume
02:34the UK-China Economic and Financial Dialogue for the first time in five years
02:40and that she'll be traveling to China next year as part of a large UK political and trade delegation.
02:47Michael Vosk, CGTN, London.