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China, Britain reach extensive consensus at forum

(Xinhua)

14:32, September 09, 2011

Chinese Vice Premier Wang Qishan (R) and British Chancellor of the Exchequer George Osborne meet the press after the Fourth China-UK Economic and Financial Dialogue in London, Britain, Sept. 8, 2011.(Xinhua/Wang Yahong)

LONDON, Sept. 8 (Xinhua) -- China and Britain agreed at a forum held here Thursday to boost cooperation in trade and investment and enhance collaboration in many other fields.

The two nations should harness respective strengths to promote the healthy development of the China-Britain comprehensive strategic partnership with concrete steps, Chinese Vice Premier Wang Qishan told the Fourth China-UK Economic and Financial Dialogue.

Chancellor of the Exchequer George Osborne, who co-chaired the conference with Wang, said the talks were aimed at, among others, broadening bilateral trade and investment, strengthening cooperation against protectionism in international trade and maintaining financial stability.

Following the cooperative spirit, Beijing and London agreed at the forum to deepen cooperation in trade and investment, especially in such areas as infrastructure, advanced manufacturing, new energy, energy conservation and environmental protection, and work hard to bring bilateral trade to 100 billion U.S. dollars by 2015.

The two sides also pledged to step up financial cooperation and start negotiations over their capital market audit oversight mechanisms in a bid to keep the capital markets in both countries in good shape.

Britain reaffirmed its commitment to encourage the EU to recognize China's full market economy status as soon as possible, and also voiced support for greater use of the Chinese currency in international trade and its inclusion in the International Monetary Fund's special drawing rights basket.

Meanwhile, the two countries vowed to cooperate more closely in promoting reforms in international monetary and financial systems and fighting various forms of protectionism.

They also agreed to work together with other member nations to lay a firm foundation for the upcoming summit of the Group of 20 major economies in France.

In his speech, Wang recalled British Prime Minister David Cameron's fruitful visit to China in November, and noted that Britain had rolled out an economic growth plan and would host the Olympic Games next year, while China had begun implementing a grand 2011-2015 development plan.

Against such a backdrop, Beijing and London should seize the opportunity and raise bilateral cooperation to higher levels, the vice premier said.

On the sidelines of the forum, the two sides signed two memorandums of understanding about their cooperation efforts in the fields of infrastructure and energy.


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