Relaunch of UK-China trade talks offers boost for exporters

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 relaunch of trade talks with the world’s second largest economy aims to give British businesses more access to China’s booming consumer market: the country’s growing middle class is forecast to contribute 23% to total global growth between 2023 and 2050.

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. In the North-west, the region’s businesses have already increased exports to China following the launch of direct flights from Manchester Airport to Beijing and Shanghai in recent years.

Negotiations aim to offer a further boost to other major sectors, including professional services, automotive, and healthcare.

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. 

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.“

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, including for car manufacturers and the food and drink sector.