Britain’s Treasury chief is travelling to China this weekend to discuss economic and financial cooperation between the countries, as the U.K.‘s Labour government seeks to reset frayed ties with Beijing
FILE -Britain's Chancellor of the Exchequer Rachel Reeves speaks during a media conference after a meeting of eurogroup finance ministers at the European Council building in Brussels, Dec. 9, 2024. Britain's Treasury chief is travelling to China this weekend to discuss economic and financial cooperation between the countries, as the U.K.'s Labour government seeks to
Reeves' trip is expected to revive the China-U.K. Economic and Financial Dialogue — annual bilateral talks that have been suspended since 2019 due to the COVID-19 pandemic and deteriorating relations in recent years.Bank of England Governor Andrew Bailey and the U.K. Financial Conduct Authority's chief executive, Nikhil Rathi, are also in the delegation, according to the Treasury. Representatives from some of Britain’s biggest financial services firms will join the trip.
The meetings form part of a bid by Starmer, who was elected as leader in July, to strengthen political and economic ties with China, the U.K.'s fifth-largest trading partner. But some in the opposition Conservative Party have criticized his stance and said trade ties should not come at the expense of national security and human rights concerns.
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