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China, UK to Strengthen Trade Ties
China will work with the UK in strengthening bilateral ties and bringing trade and economic cooperation to a new high, Chinese foreign trade minister Shi Guangsheng told visiting British Trade Minister Richard Caborn in Beijing Monday.
Caborn is leading a delegation on a week-long China tour mainly to study the investment environment in the central and western regions.
In a meeting with Caborn Monday afternoon, Shi, minister of foreign trade and economic cooperation, said as a crucial part of China's 10th Five-Year Plan (2001-2005), the development of the west relies on China's own efforts as well as investment from overseas.
He outlined four focal points in the development of China's vast western region, which include infrastructure construction, environment management, agricultural development as well as development in the science, technology and education sectors.
Sino-British cooperation in all sectors including trade and economic cooperation has experienced constant expansion in recent years, Shi said, calling for joint efforts from the two sides to seek new breakthroughs in the new year.
While briefing the guests on China's absorption of overseas investment, Shi said he sees potential for further cooperation between small and medium-sized enterprises (SMEs) of China and the UK, as many Chinese SMEs enjoy rich and large-caliber human resources but lack capital and technologies which are abundant in Britain.
Shi thanked the British government for its support in China's WTO entry and expressed the hope the UK will help bring an earlier conclusion to the negotiation.
Caborn said the UK supports China's strategy in developing the west and wishes to establish a wider partnership with China by enhancing inter-governmental as well as non-governmental cooperation.
Caborn and his delegation arrived at Beijing Sunday at MOFTEC's invitation. Vice Minister Zhang Xiang held talks with him earlier on Monday.
In addition to Beijing, the delegation will visit Lanzhou, a major city in northwest China, and Chengdu, capital of Sichuan Province in southwest China.
The UK is currently China's second largest trade partner in the EU, next to Germany. Bilateral trade volume reached US$9.9 billion in 2000.
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