China and UK Agree to Extend Industrial Cooperation During PM's Visit
Liao Shumin
DATE:  Feb 01 2018
/ SOURCE:  Yicai
China and UK Agree to Extend Industrial Cooperation During PM's Visit   China and UK Agree to Extend Industrial Cooperation During PM's Visit

(Yicai Global) Feb. 1 -- China and the UK will extend existing cooperation between the countries to a broader range of sectors including high-end manufacturing, medical care and food production following trade delegation talks between the countries in Wuhan, capital of central Hubei province.

The UK's international trade secretary Liam Fox held in-depth talks with Chinese counterparts on expanding cooperation platforms under the Belt and Road Initiative focused on sectors in which both countries have competitive advantages, state-owned broadcaster CCTV said yesterday.

The China-Britain Business Meeting, held on the first day of British Prime Minister Theresa May's visit to China, resulted in agreements between both sides.

Among the agreements was a deal between Wuhan local government and the city of Swansea in Wales to establish a sister-city relationship. There were also nine partnership programs set up including the China-Britain College Alliance on Innovation and Entrepreneurship, and an agreement on football cooperation between Wuhan and Manchester in northwest England.

China's commerce ministry also set up the China-Britain Entrepreneur Committee, in a move to produce tangible achievements in pragmatic trade and economic cooperation between Chinese and British enterprises through an exchange platform. The move echoed a similar agreement made during French President Emmanuel Macron's recent visit to China.

The China-Britain Entrepreneur Committee is supported by a council consisting of representatives from both sides from enterprises in sectors including finance, energy, auto, communication, traffic and medicine.

A total of 15 Chinese enterprises are involved, including China Construction Bank, Industrial and Commercial Bank of China, Bank of China, China National Petroleum Corp., China Petroleum and Chemical Corp., Huawei Technologies Co., ZTE Corp. and BYD Co.

The 16 British participants include Jaguar, HSBC Holdings PLC, Standard Chartered PLC, and the London Stock Exchange.

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Keywords:   China,UK