TAIPEI, Taiwan (AP) — China and Britain restarted economic and financial talks on Saturday after a six-year hiatus during a visit by Britain’s Treasury chief to Beijing, as the UK’s Labour government seeks to reset strained ties with the world’s second-largest economy.
Accompanied by a delegation of British business executives and finance officials, Chancellor Rachel Reeves met with Chinese leaders, including Vice Premier He Lifeng and Vice President Han Zheng.
Reeves emphasized the need for a “stable, pragmatic” UK-China relationship as she wrapped up talks in Beijing.
“Our two countries can work together on areas of mutual interest in the interests of our citizens, whilst also being frank and open with each other when we disagree,” she said.
The Sino-British ties have soured following a series of spying allegations from both sides, China’s support for Russia in the Ukraine war and a crackdown on civil liberties in Hong Kong, a former British colony.
British officials said Reeves will also urge Beijing to stop its material and economic support for the Russian war effort in Ukraine and raise the issue of rights and freedoms in Hong Kong.
The two sides inked agreements on Saturday in areas such as finance “worth 600 million pounds ($732 million) over the next five years for the UK economy,” Reeves said without outlining the specifics of the deals.
“Overall, this government’s re-engagement with China already sets us on course to deliver up to 1 billion pounds of value for the UK economy,” she said.