China's commerce minister, UK's Reynolds vow further economic cooperation during meeting in London

Chinese Commerce Minister Wang Wentao met with British Secretary of State for Business and Trade Jonathan Reynolds in London on Monday, where they had a candid and pragmatic exchange on further deepening China-UK economic and trade cooperation.

The two sides agreed to jointly implement the important consensus reached by the two countries' leaders, hold the 14th meeting of China-UK Joint Economic and Trade Commission as soon as possible, and promote practical cooperation across various economic and trade sectors.

Wang said that China and the UK are important economic and trade partners. The two sides should not only resolve differences through consultation when facing the past, but also tap into potential through dialogue for expanding cooperation in sectors such as sustainable development, digital economy, green economy and finance when looking towards the future.

China will further expand its high-level opening up to the world and welcome British companies to continue investing and starting businesses in the country to share the opportunities of the Chinese market, Wang added.

At present, the global economic order has been seriously impacted by unilateralism and protectionism. As important members of the World Trade Organization (WTO), China and the UK should firmly support the multilateral trading system with the WTO at its core, Wang noted.

For his part, Reynolds said that Britain attaches great importance to economic and trade cooperation with China and the vast Chinese market, and is willing to expand bilateral trade, especially service trade cooperation. Britain also welcomes Chinese companies to continue investing in the country and jointly promote the establishment of a stable, pragmatic and predictable bilateral economic and trade relationship, he added.

Britain is willing to work with China to adhere to free trade and open markets, strengthen cooperation under the multilateral framework, and jointly maintain the multilateral trading system, Reynolds added.