China and the UK can take three steps to foster new opportunities and create new possibilities for improving their bilateral business relationship, Wei Jianguo, vice chairman of the China Center for International Economic Exchanges (CCIEE), said on Wednesday.

Wei Jianguo (Yu Kai)

Wei, who is also a former vice minister of commerce, made the remarks at the “Jintai Roundtable” seminar on China-UK economic cooperation and innovation development held by People's Daily Online.

First, China and the UK should enhance the friendship between the two peoples, as well as boost trade and economic cooperation.

“The Chinese and British people enjoy a long-standing friendship. It is even more necessary to carry forward this friendship and strengthen trade and economic cooperation,” Wei said, adding that organizations such as the China-Britain Business Council and the Britain-China Friendship Association have contributed to the development of China-UK ties through concrete actions.

At present, more entrepreneurs and those calling for bilateral friendship should work together to advance bilateral business ties.

Second, the two countries should boost science and technology cooperation and draw up a list of areas in which they can cooperate as well as a list of dialogues.

Third, both countries should start with financial cooperation and enhance cooperation in areas such as culture, education and tourism.

In the face of the current complex situation, the UK’s status as a global financial center remains unchanged after Brexit, as does the trend of China and the UK advancing bilateral relations through financial cooperation, as well as the direction of both counties supporting and complementing each other in playing an active role in global governance and promoting globalization, Wei noted.

“Be it in culture, education or tourism, the two sides can discuss cooperation,” he said, adding that both countries can also cooperate in areas in which they can make breakthroughs, including new materials, medicine, and medicinal materials.

Wei believes that the current challenging situation is temporary and that China and Britain can overcome the current difficulties by redoubling their efforts.