Working people benefit as UK to hold first trade talks with China in 7 years to deliver economic growth
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Economic growth to be boosted as the first UK-China Joint Economic
and Trade Commission (JETCO) meets since 2018 UK businesses join
the new Business and Trade Secretary as he looks to secure
deals worth over £1 billion over five years - delivering
our Plan for Change. Clear benefits as new figures backed by UK
business show trade with the second largest economy in the world
delivered £2 billion in export wins over the last financial year
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Working people and businesses to benefit from increased economic growth as the government pursues a pragmatic, careful and confident relationship with China through the relaunch of trade talks this week. The newly appointed Business and Trade Secretary Peter Kyle will use the first UK-China Joint Economic and Trade Commission (JETCO) since 2018 to press for British businesses to have greater access to the Chinese market, the second largest economy in the world. The trip to Beijing will finalise new trade wins that make exporting easier for British companies, putting more money into employees' pockets as part of our Plan for Change, and boost cooperation in our biggest sectors, including professional services, automotive, and healthcare. This comes as new figures show nearly £2 billion in export wins to China were supported by government in the last financial year, with creative industries, retail, and healthcare among the biggest successes. Revising our trade relationship with Beijing through these engagements could present huge opportunities for UK exporters, potentially providing greater access to British businesses to a country with a growing middle-class market that is forecast to contribute 23% of global growth between 2023 and 2050. The Secretary of State will also raise challenges in the bilateral relationship including human rights and level playing field issues that undermine fair competition for UK business. These are the hallmarks of grown-up government when it comes to dealing with China, cooperating where we can and challenging where we must - never compromising on our national security. Business and Trade Secretary Peter Kyle said: “Serious and strategic engagement with the world's foremost economic players is what will deliver for working people and businesses across the UK. “Restarting trade talks with China is an essential tool to put money into people's pockets as part of the government's Plan for Change. “British businesses will be an important part of my visit, helping open doors to greater commercial opportunities “More discussions and direct engagement with China will ensure trade between us can flourish, strengthen our national security, and create space to raise concerns constructively where needed.” It comes as new figures show nearly £2 billion in export wins to China were supported by government in the last financial year, with creative industries, retail, and healthcare among the biggest successes. These include, amongst others:
The visit is expected to deliver an ambitious package of more than £1 billion of market access wins over five years across priority sectors targeted in the UK's recent Industrial Strategy. China is a huge market for cars and easier access for British carmakers – who directly employ around 133,000 UK workers – presents a massive UK export opportunity. Similarly, resolution of agri-food barriers such as cattle hides, sheep skins, and porcine genetics will help diversify and expand the UK's food and drink industry, which accounts for 6.2% of national GVA. Regular UK and China exchanges are also supporting UK technical and vocational education and training providers to have their qualifications and services recognised in China. In addition to fresh trade talks, the Business and Trade Secretary will also co-chair the first Industrial Cooperation Dialogue (ICD) since 2022. The talks will promote UK-China cooperation on industrial decarbonisation and the digital economy and discuss standards that make it easier for UK automotive manufacturers to enter the Chinese market. Jay Li, The Premier League Managing Director in China, said: “The Premier League and our clubs have an incredible fanbase in China and the opening of our office in Beijing last year marked an exciting next step as we continue to build and strengthen our relationships with fans and partners. “We are proud to build on over 15 years of football development in China and delivering programmes and activities to support the elite and grassroots game. We are also excited about our new partnership with Migu, a China mobile-owned streaming platform, making it the sole digital broadcaster of all 380 Premier League matches in mainland China until the end of the 2027–28 season. “As the world's most watched football league, with a combined global audience of 1.9bn, broadcast into 189 countries the Premier League is a key driver of economic activity and growth for the UK. Our continued growth in China has a tangible and positive benefit for the UK economy”. Sharon Hague, Pearson's UK CEO and President of English Language Learning, said: “This is a pivotal moment for education and innovation. Rapid advances in technology and demographic shifts are transforming how we all prepare for the future. UK-China partnerships in trade and education are vital to addressing these challenges, and this visit presents exciting opportunities for Pearson to strengthen its collaboration with education and training institutions." Neil Willis, Managing Director of Cranswick Fresh Pork, said: “The China market has always been the most important overseas export market for British pork. The long-term trade relationship with China provides an incredibly important contribution and supports the British pork industry. “It is a partnership that we cherish, and I would like to extend my thanks for the ongoing support from Government to secure these deals and identify future growth opportunities. We will continue our commitment to the China market on a long-term basis, continuously investing and growing together.” Notes to editor
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