Experts: China and the UK enjoy their ‘honeymoon period’
By CGTN’s Wang Yue
China and the UK enjoy smooth trade ties at the moment. The latest economic dialogue between the two countries occurred last month and resulted in business deals valued at 1.4 billion pounds. Experts said the honeymoon period will continue and the two countries will see stronger bilateral trade after Brexit.
“China is rapidly becoming a global leader in economy and geopolitics. And the UK was the leader in the history. These two countries have played leadership roles in history,” said Andy Mok, the managing director of Red Pagoda Resources.
"Golden Era" was used to describe the UK's relations with China way ahead of Brexit. Lord Sassoon, the chairman of the China-Britain Business Council, believed that China presents a big opportunity for both countries, saying that “UK exports to China have been growing more strongly than to any other big country in recent years, admittedly from a lower base than they should have been. So the UK, whether it’s in terms of our manufacturers or in financial and professional services, is very focused on China.”
Mok noted that China’s new appeal to the UK is obvious, since China not only has a big domestic market, but also provides a platform for global growth, such as the Belt and Road Initiative.
This view is supported by numerous cooperation initiatives between the two countries. For example, London will provide 25 billion pounds from the country's fiscal budget in the form of loans to British companies investing in China's Belt and Road Initiative. Meanwhile, China and the UK had a pow-wow on the Shanghai-London stock connect to finalize some of the details. The countries also discussed mutual funds and bond trading schemes.
Moreover, Sassoon said that bilateral trade cooperation between China and the UK would be strengthened after Britain’s moving out of the EU.
“I think as we move out of the EU, we can have stronger bilateral trading arrangements. We don't have to move at the speed of the other 27 countries when it comes to our trade arrangements,” Sassoon told CGTN.