On September 11, Minister of Commerce Wang Wentao and UK Secretary of State for Business and Trade Peter Kyle co-chaired the 14th meeting of China-UK Joint Economic and Trade Commission. The two sides engaged in in-depth discussions on trade, investment, multilateral and regional issues, with a broad consensus reached.

Wang noted that the important consensus reached during the meeting between President Xi Jinping and UK Prime Minister Keir Starmer has charted the course for China-UK economic and trade cooperation. The two countries share extensive common interests, with a large scale of bilateral trade and broad investment engagement. Economic and trade collaboration serves as a stabilizing force in China-UK relations. The resumption of the Joint Economic and Trade Commission after a seven-year break is a pragmatic step to deepen bilateral economic ties, and will deliver tangible benefits to both the Chinese and British peoples. The Chinese side appreciates the UK’s role as the guest country of honor at the 25th China International Fair for Investment & Trade and the 5th China International Consumer Products Expo, and welcomes more British investment in China. China will expand imports from the UK and encourage Chinese enterprises to invest in the UK, and hopes that the UK will protect the lawful rights and interests of Chinese companies. China stands ready to work with the UK to uphold free trade and the multilateral trading system.

Kyle stated that the UK highly values its economic and trade relations with China and recognizes the opportunities in the Chinese market. The UK aims to expand trade in services with China, encourage two-way investment, strengthen industrial collaboration, and jointly safeguard the multilateral trading system while promoting cooperation within the WTO framework.

The two sides agreed to convene meetings under the China-UK Joint Working Group on the WTO, the Trade Remedies Exchange and Cooperation Mechanism, and the Trade in Services Working Group. The two sides also pledged to enhance the role of the China-UK Export Control Working Group to facilitate compliant trade in dual-use items; strengthen exchanges and cooperation on investment policies to foster a fair and non-discriminatory business environment; deepen collaboration in sectors such as new energy, pharmaceuticals, advanced manufacturing, and finance; expand subnational and business-to-business exchanges; and strengthen cooperation on standards and promote technology cooperation.

During the meeting, the two sides signed the Memorandum of Understanding on Establishing a China-UK Joint Working Group on the WTO and the Memorandum of Understanding on Establishing a China-UK Trade Remedies Exchange and Cooperation Mechanism. After the meeting, Wang Wentao and Peter Kyle met with representatives from UK companies, as well as the China-Britain Business Council and the British Chamber of Commerce in China.