Mutual benefit between the two countries’ trade and business. Bilateral investment grows steadily

One Belt, One Road leads the high-quality cooperation between China and Britain

On August 20th, the Hong Kong media students of the “2019 Fan Changjiang Action “One Belt, One Road" trip visited the Chinese Embassy in the UK to learn about the Sino-British relations and cooperation under the “Belt and Road" initiative. Chen Wen, Minister of the Chinese Embassy in the UK, said that since China’s President Xi Jinping’s “Super State Visit” to the UK in 2015, Sino-British relations have officially entered the “Golden Age”. Under the “One Belt, One Road" initiative, China and the UK have cooperated more closely in the fields of economy, environmental protection and sustainable development, and have jointly created more “high quality" cooperation results, adding to the “golden age" of Sino-British relations.

According to reports, China and the UK have established three kinds of cooperation mechanisms: strategic dialogue, economic and financial dialogue, and high-level foreign exchange. The two countries have achieved new heights in the specifications and frequency of high-level visits.

Britain is deeply involved in the “Belt and Road"

Chen Wen concluded that Prince Andrew, the Duke of York, visited China many times. The “Dragon Gate" Global Innovation and Entrepreneurship Competition was held in Shenzhen in April this year. Chinese Vice Premier Hu Chunhua and the British Chancellor of the Exchequer in June. Jia Weide co-chaired the 10th China-UK Economic and Financial Dialogue in London… China and the UK have maintained close exchanges of high-level visits since the “Golden Age" and trades more frequently. Last year, British beef re-entered the Chinese market in 22 years and opened this year. Initiatives such as “Huluntong” are seen as milestones in high-level interaction between China and the UK.

Chen Wen believes that the pragmatic British people have seized the opportunity of the “Belt and Road” and are gradually participating in it. In the future, the Chinese and British sides can strengthen cooperation in a wider area.

Chen Wen said that on the basis of the “Belt and Road", the economic and trade investment between China and Britain has grown steadily

It will provide more financing opportunities for the two countries. With the support of the British government for cooperation projects, it has promoted the relationship between the industrial and commercial sectors of the two countries. For example, the Asian Investment Bank, the United Kingdom is the first EU member to join, and the uninterrupted economic and trade cooperation between China and Britain has linked financial markets to each other, making its cooperation prospects broader.

At the same time, the “Belt and Road” has greatly increased China’s investment opportunities in the UK. In 2018, China’s direct investment in the UK’s entire industry reached US$2.32 billion. Currently, seven Chinese banks have opened branches in London. This shows that the two sides have promoted trade with each other. Among them, “Huluntong” is expanding the financing channels of both sides. It is a major breakthrough in the history of cross-border trade between China and Britain.

In actual trade, the United Kingdom follows international law and emphasizes the importance of free trade. It shares the same philosophy with China, and Sino-British cooperation can promote international free trade. The British law has a very high degree of protection against free trade, so it opposes the protectionism in the market. This concept is exactly the same as the Chinese cooperation and co-integration. China adopts a mutually beneficial cooperation and mutual benefit thinking of foreign trade, which is conducive to promoting The development of global trade.

Defending world multilateralism together

Chen Wen said that as a permanent member of the UN Security Council, an important member of the G20, and other international organizations or conferences, China and the United Kingdom are closely cooperating in the existing international system, jointly defending world multilateralism and persisting in building a community of interests. China has always adhered to the goal of cooperation and win-win, based on the rules of international law and international law, and based on multilateral mechanisms, and is willing to continue to improve the global governance system with all countries in the world.

Chen Wen believes that the Sino-British relationship in the new era will continue to develop steadily under the challenges of US pressure, Brexit and Hong Kong issues. In the future, China and the UK will have opportunities in the “Golden Age" and the “One Belt, One Road" cooperation opportunities. On the three major opportunities of interest, we will break through the higher level of pragmatic cooperation.

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