Global meaning of China-UK cooperation

Chinese Premier Li Keqiang (R) shakes hands with British Prime Minister David Cameron during their annual meeting in London, Britain, June 17, 2014. (Xinhua/Li Tao)

China and Britain have recently signed dozens of government or non-government agreements, totaling more than 30 billion U.S. dollars and covering energy, finance, high-speed rail, nuclear power and other fields. This reflects the results of a policy of the two parties complementing each other's strengths to the mutual benefit of both. It has profound global significance because of the extent of cooperation and the two countries' status.

As the largest developing country promoting economic transformation and upgrading, China has a huge market, huge foreign exchange reserves and a competitive manufacturing industry, while Britain is a veteran developed economy trying to sustain itself on the path to recovery. It has a strong financial system and advanced science and technology. It is also a world leader in energy and environmental protection.

Despite the fact that Britain and other developed countries are showing indications of an economic recovery, they face many difficulties in creating new economic growth points, and they need to seek the benefits brought by trade and foreign policies. China, as the world's second largest economy, has a growing consumer market and funds available for investment, and has made a substantial contribution to the international economy.

We can say that trade between China and Britain is moving beyond a simple trading relationship towards a higher quality and more in-depth investment relationship. Bilateral cooperation will benefit not only the two countries, but also the wider international economy.

UK cooperation with China is not just limited to the economic and trade fields.

This year marks the 10th anniversary of the establishment of the Sino-UK comprehensive strategic partnership. In international affairs, Sino-UK ties have seen increasing co-operation. The two countries cooperate well in world organizations including the UN Security Council and G20, and on international issues such as climate change and free trade.

Reviewing Sino-UK relations, there have been ups and downs, but the overall trend is upward and forward.