In a bid to boost collaboration in high-value service industries, China and the United Kingdom have decided to expedite a joint feasibility study on a bilateral services trade agreement. This development comes amid continuing global trade uncertainties and is expected to fortify economic relations between the two nations.
At the recent China-UK Joint Economic and Trade Commission meeting held in London, Chinese Commerce Minister Wang Wentao expressed support for increased British investment in China. He also urged the UK to maintain a fair and non-discriminatory business environment for Chinese companies operating within its borders. Both countries reaffirmed their dedication to upholding the rules-based global trading system, particularly through the World Trade Organization.
UK Business and Trade Secretary Peter Kyle emphasized the importance of growing cooperation in services as a cornerstone of their bilateral relationship. He pointed out that China’s rapidly expanding services sector presents significant opportunities for British companies. Kyle also reiterated the UK’s commitment to deepening collaboration through the bilateral services partnership and the ongoing trade agreement study.
During the discussions, China raised concerns about the UK’s new steel import restrictions, urging Britain to reconsider these measures to ensure compliance with international trade standards. Despite this contention, experts believe that the proposed services trade agreement could open new avenues in various sectors such as finance, banking, education, professional services, skills training, and creative industries.
Meanwhile, the trade of goods between China and the UK continues to flourish. In the first five months of 2026, bilateral goods trade grew by 6.5% year-on-year, underscoring the robust economic engagement between the two countries despite the complexities of the global trade landscape.