China and UK Commit to Building an Open World Economy Amidst Global Challenges
In a significant move, both nations reaffirm their dedication to economic globalization and a rules-based multilateral trading system.
During the 11th round of China-UK Economic and Financial Dialogue, conducted in Beijing, China and the United Kingdom expressed a joint commitment to fostering an open world economy.
The high-level discussions, held on Saturday, were co-chaired by Chinese Vice Premier He Lifeng and British Chancellor of the Exchequer Rachel Reeves.
Chinese foreign ministry spokesperson Guo Jiakun, addressing the press in Beijing, stated that both parties reached 69 mutually beneficial agreements.
The dialogue underscored their mutual dedication to multilateralism and economic globalization, with a particular emphasis on supporting the World Trade Organization's (WTO) rules-based trading framework.
Both Chinese and British officials emphasized the strategic importance of collaboration between the two countries, noting that such cooperation is advantageous not only for China and the UK but also for the global community.
They agreed to maintain secure, stable, and efficient global production and supply chains and opposed any moves toward economic decoupling.
Furthermore, they vowed to reduce barriers to bilateral investments and to promote a non-discriminatory and open business environment.
Key areas of agreement spanned industry, agriculture, and energy sectors, marking significant steps forward in bilateral cooperation.
Moreover, discussions highlighted financial cooperation as a pivotal component of China-UK relations.
The two nations aim to enhance collaboration on financial policies and regulation, with an objective to achieve substantive results in the two-way opening and connectivity of their financial markets.
Spokesperson Guo remarked that the outcomes of this dialogue underscore the depth and scope of China-UK economic and financial collaboration, and stressed that both countries are poised to implement these agreements for the benefit of their citizens and the wider global economy.
As part of this ongoing dialogue, China affirmed its readiness to work closely with the UK to realize the agreed outcomes, setting a potential precedent for future international economic engagements.
This engagement comes at a time when nations worldwide are grappling with emerging geopolitical and economic challenges, making the commitment to open economic collaboration all the more pertinent.
The high-level discussions, held on Saturday, were co-chaired by Chinese Vice Premier He Lifeng and British Chancellor of the Exchequer Rachel Reeves.
Chinese foreign ministry spokesperson Guo Jiakun, addressing the press in Beijing, stated that both parties reached 69 mutually beneficial agreements.
The dialogue underscored their mutual dedication to multilateralism and economic globalization, with a particular emphasis on supporting the World Trade Organization's (WTO) rules-based trading framework.
Both Chinese and British officials emphasized the strategic importance of collaboration between the two countries, noting that such cooperation is advantageous not only for China and the UK but also for the global community.
They agreed to maintain secure, stable, and efficient global production and supply chains and opposed any moves toward economic decoupling.
Furthermore, they vowed to reduce barriers to bilateral investments and to promote a non-discriminatory and open business environment.
Key areas of agreement spanned industry, agriculture, and energy sectors, marking significant steps forward in bilateral cooperation.
Moreover, discussions highlighted financial cooperation as a pivotal component of China-UK relations.
The two nations aim to enhance collaboration on financial policies and regulation, with an objective to achieve substantive results in the two-way opening and connectivity of their financial markets.
Spokesperson Guo remarked that the outcomes of this dialogue underscore the depth and scope of China-UK economic and financial collaboration, and stressed that both countries are poised to implement these agreements for the benefit of their citizens and the wider global economy.
As part of this ongoing dialogue, China affirmed its readiness to work closely with the UK to realize the agreed outcomes, setting a potential precedent for future international economic engagements.
This engagement comes at a time when nations worldwide are grappling with emerging geopolitical and economic challenges, making the commitment to open economic collaboration all the more pertinent.
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