(Yicai Global) Nov. 2 -- This year is the 40th anniversary of China's reform and opening-up. It is a momentous occasion for the UK as well as China because it has led to awin-winpartnershipbased on trade and innovation that has changed the lives of our people for the better.

Our countries are natural partners because we are always striving to improve on what has been done before. Innovation is written into the DNA of our country from the invention of the television to the jet engine to the Internet. And in China, from the invention of printing, the compass and paper money to being at the forefront of modern-day e-commerce, innovation has also always been innate. The UK's expertise in turning proven technologies and innovation into commercial success means that the UK is well-placed to collaborate with China to achieve success across sectors.

There are already numerous examples of UK-China collaboration, with innovative partnerships across different regions and sectors. This exchange of products and knowledge has helped grow our economies and given birth to a Golden Era of UK-China relations.

In 2017, bilateral trade in goods and services reached a record GBP67.5 billion (USD87.2 billion) in 2017, a 15 percent increase from 2016, while UK exports to China grew by 28.5 percent in 2017 to reach GBP22.3 billion.

China is now the UK's largest trading partner outside of Europe and North America. Earlier this year, during our Prime Minister's visit to China, the UK and China celebrated over GBP9 billion worth of deals.

Next week the UK will be a Country of Honour at the China International Import Expo and visitors will have an opportunity to view the UK innovations that may come to shape their lives in the future.

30 UK companies will be exhibiting covering sectors such as healthcare and life sciences, financial and professional services, education, creative industries, consumer goods, automotive, AI and big data.

Exhibitors will include household names such as BP and GSK as well as some of our most exciting start-ups who will be displaying cutting-edge virtual reality and augmented reality technologies. These include Hypervsn who have created a 3D holographic system; Inde whose augmented reality mirror lets users meet, interact and even take their photo with some of the greatest animated characters around; and Inition's whose VR technology allows people to experience a 360-degree 3D video and audio journey, transporting users into a 'live' orchestra performance.

To ensure we maximize opportunities between our people and businesses we need to make sure we are working closely including at government level. Next year as the UK will leave the EU and become ever-more outward-looking, we want to deepen our strong and strategic partnership with China. Leaving the EU offers us an opportunity to forge a new role for ourselves in the world: to negotiate our own trade deals and to be a positive and powerful force for free trade.

CIIE is, in President Xi's words "a major policy initiative and commitment taken on [its] own accord to open up the Chinese market". It is an opportunity for China to outline concrete actions that support Chinese consumers' demand for more high-quality goods and services. TheUK and China should work together to breakdown these barriers. Priority measures could include abolishing joint-venture investment requirements across all sectors and amending technology import-export regulations in order to facilitate more UK investment into China.

HRH The Duke of York, our Secretary of State for International Trade, Dr. Liam Fox, our Minister for Export Promotion, Baroness Fairhead, our HM Trade Commissioner for China, Richard Burn, and I will be attending CIIE – a signal of the UK's commitment to breaking down barriers and closer working.

The UK-China partnership on trade and innovation has helped change the lives of the people of both our countries for the better over the last forty years. We should all work hard to make sure that continues.

Dame Barbara Woodward is the British Ambassador to China.