Li proposes expanding China-Britain trade to $100b in 2015

Chinese Premier Li Keqiang (C) holds an annual meeting with British Prime Minister David Cameron in London, Britain, June 17, 2014. (Xinhua/Pang Xinglei)

Visiting Chinese Premier Li Keqiang proposed Tuesday that China and Britain expand two-way trade to reach a target of $100 billion in 2015.

Li, at an annual meeting with his British counterpart, David Cameron, also called on China and Britain to boost cooperation in such areas as nuclear power, high-speed railway, infrastructure construction and urbanization.[Special coverage]

This year marks the 10th anniversary of the establishment of the China-Britain comprehensive strategic partnership. The two premiers agreed to seize the unique opportunity to lift bilateral relations to a new level.

Li said China and Britain should constantly consolidate the political foundation of bilateral relations, promote common growth and inclusive development, so as to speed up the development of China-Britain ties.

He said the two countries need to advance financial cooperation, facilitating direct trading of their local currencies, setting up RMB clearing bank and opening branches of Chinese banks in Britain.

The Chinese premier also urged the two countries to strengthen cooperation in such areas as scientific innovation, green economy, medicine and aviation.

Li applauded measures adopted by Britain to simplify visa application procedure for Chinese visitors.

Cameron, for his part, said bilateral cooperation has borne rich fruits since the two countries forged a strategic partnership a decade ago.

He said Britain attaches great importance to its relationship with China and is willing to have sincere dialogues with China and deepen cooperation in the fields of economy and trade, finance, education, science, nuclear power and high-speed railway.

The British prime minister added that Britain welcomes more Chinese companies to invest in Britain and more Chinese students to study here.

On global and regional affairs, Li noted that both China and Britain are firm guards of world peace and regional stability, calling on the two countries to strengthen communication and cooperation in international and regional affairs.

Cameron said China and Britain are indispensable partners in dealing with international issues.

Britain pursues a policy of open and free trade and investment, and is ready to promote the negotiations on the Europe-China investment agreement, and the construction of the Europe-China free trade zone.

Li and Cameron witnessed the signing of a series of bilateral cooperation documents after their meeting.

The Chinese premier arrived here on Monday for an official visit. Britain is the first leg of his two-nation trip to Europe, which will also take him to Greece.