UK to hold first trade talks with China in 7 years

The UK is set to relaunch formal trade talks with China for the first time since 2018, in a move expected to unlock significant opportunities for British businesses and working people. The newly appointed Business and Trade Secretary Peter Kyle will lead a delegation to Beijing for the UK-China Joint Economic and Trade Commission (JETCO), seeking to secure over £1 billion in market access wins over the next five years under the government’s Plan for Change.

The visit aims to finalise agreements that will make exporting easier for UK companies. These deals are designed to put more money into employees’ pockets and accelerate economic growth.

Government-backed efforts have already supported nearly £2 billion in export wins to China in the last financial year, with creative industries and retail among the top beneficiaries. The UK hopes to capitalise on China’s rapidly expanding middle-class market, forecast to contribute 23 per cent of global growth between 2023 and 2050, offering substantial potential for British exporters.

Kyle will also use the talks to raise sensitive issues, including human rights and level playing field concerns that affect fair competition for UK businesses.

“These are the hallmarks of grown-up government when it comes to dealing with China, cooperating where we can and challenging where we must - never compromising on our national security,” the Department for Business and Trade said in a release.

In addition to JETCO, the trip will include the first Industrial Cooperation Dialogue (ICD) since 2022, focusing on industrial decarbonisation, the digital economy, and aligning standards to make it easier for UK automotive manufacturers to enter the Chinese market.

“British businesses will be an important part of my visit, helping open doors to greater commercial opportunities. More discussions and direct engagement with China will ensure trade between us can flourish, strengthen our national security, and create space to raise concerns constructively where needed,” Business and Trade secretary Peter Kyle said.

ALCHEMPro News Desk (HU)