Publish: 11:29, 11 Jan, 2025 Updated: 11:49, 11 Jan, 2025

Britain’s treasury chief on China visit to revive businesses

Online Desk
Britain’s treasury chief on China visit to revive businesses
Photo - Collected

Britain’s treasury chief kicked off a visit to China on Saturday aimed at boosting economic and financial cooperation between the countries, as the UK’s Labour government seeks to reset strained ties with Beijing.

British finance minister Rachel Reeves, who is traveling with a delegation of British business leaders, will meet top Chinese finance and economic officials, including Vice Premier He Lifeng.

“Growth is the number one mission of this Labour government. And to grow the economy, we need to help great British businesses export around the world,” Reeves said on Saturday as she visited a store of the British folding bike maker Brompton in Beijing.

She added the aim of her visit was “to unlock tangible benefits for British businesses exporting and trading around the world, to ensure that we have greater access to the second biggest economy in the world.”

A priority for Reeves’ trip is reviving the China-UK Economic and Financial Dialogue — annual bilateral talks that have been suspended since 2019 due to the COVID-19 pandemic and deteriorating relations. London hopes renewed dialogues will help bring down barriers that UK businesses face when looking to export or expand to China.

The talks were shelved after ties sourced 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 delegation includes Bank of England Governor Andrew Bailey and the CEOs of the UK Financial Conduct Authority and the London Stock Exchange Group. Senior executives from some of Britain’s biggest financial services firms, including the group chairmen of HSBC and Standard Chartered, were also included.

Reeves’ visit comes after Foreign Secretary David Lammy travelled to China in October and Prime Minister Keir Starmer met with Chinese President Xi Jinping on the sidelines of the G20 summit in Brazil in November.

It's all part of a bid by Starmer, who was elected as leader in July, to strengthen political and economic ties with China, the UK’s fourth-largest single trading partner according to the Treasury.

Officials said Starmer wanted a “pragmatic” approach to working with Beijing on global stability, climate change and the transition to clean energy.

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.

British political leaders and intelligence chiefs have warned repeatedly that China poses security threats. Calls to tackle the challenge grew louder last month when it emerged that an alleged Chinese spy had cultivated close ties with Prince Andrew and carried out “covert and deceptive activity” for China’s ruling Communist Party, according to officials.

“National security is the foundation of what any government acting in the national interest will prioritize,” Reeves said. “But we need to make sure that we have pragmatic and good relations with countries around the world. That is in our national interest.”

Source: UNB

Bd-pratidin English/Fariha Nowshin Chinika

More News
'History will not forgive' failure to seal pandemic deal: WHO
'History will not forgive' failure to seal pandemic deal: WHO
Hamas to free 6 Israeli hostages as Israel releases 600 Palestinians
Hamas to free 6 Israeli hostages as Israel releases 600 Palestinians
Iran warns of ‘precision’ strike on Tel Aviv
Iran warns of ‘precision’ strike on Tel Aviv
US-backed YPG continues to use child soldiers in Syria, expert says
US-backed YPG continues to use child soldiers in Syria, expert says
Man who attacked Salman Rushdie found guilty of attempted murder
Man who attacked Salman Rushdie found guilty of attempted murder
Pentagon to fire 5,400 workers
Pentagon to fire 5,400 workers
Arab leaders discuss ‘Palestinian cause’, Gaza developments
Arab leaders discuss ‘Palestinian cause’, Gaza developments
Israel to release 602 prisoners in Gaza swap Saturday: Palestinian NGO
Israel to release 602 prisoners in Gaza swap Saturday: Palestinian NGO
Poland introduces mandatory firearms training for children
Poland introduces mandatory firearms training for children
Hamas gave body of 'Gazan woman' not hostage Shiri Bibas: Netanyahu
Hamas gave body of 'Gazan woman' not hostage Shiri Bibas: Netanyahu
Climate change is shrinking glaciers faster than ever
Climate change is shrinking glaciers faster than ever
CIA plans largest mass firing in nearly 50 years: New York Times
CIA plans largest mass firing in nearly 50 years: New York Times
Latest News
No load shedding during Ramadan, summer, says energy advisor
No load shedding during Ramadan, summer, says energy advisor
1 second ago | National
Robbery and molestation in bus: 3 arrested in Tangail
Robbery and molestation in bus: 3 arrested in Tangail
39 seconds ago | National
Fakhrul urges democratic forces to build livable Bangladesh
Fakhrul urges democratic forces to build livable Bangladesh
4 minutes ago | National
'History will not forgive' failure to seal pandemic deal: WHO
'History will not forgive' failure to seal pandemic deal: WHO
54 minutes ago | International
85 Bangladeshis among 598 immigrants detained in Myanmar
85 Bangladeshis among 598 immigrants detained in Myanmar
1 hour ago | National
Hamas to free 6 Israeli hostages as Israel releases 600 Palestinians
Hamas to free 6 Israeli hostages as Israel releases 600 Palestinians
1 hour ago | International
Misinformation on vaping keeps smokers hooked
Misinformation on vaping keeps smokers hooked
1 hour ago | Lifestyle
Apple disables encryption feature for UK users
Apple disables encryption feature for UK users
1 hour ago | Tech
New political party: Who are in discussion for top six positions
New political party: Who are in discussion for top six positions
1 hour ago | National
"We seek unity to build  just - humane society"
"We seek unity to build just - humane society"
1 hour ago | National
Flights to soar from Bogura after 15 years
Flights to soar from Bogura after 15 years
2 hours ago | Special
Projects launched with the intent of stealing
Projects launched with the intent of stealing
2 hours ago | Special
Crypto exchange Bybit loses $1.5 billion in record hack
Crypto exchange Bybit loses $1.5 billion in record hack
2 hours ago | Tech
UAE’s 1st female astronaut aims to inspire future generations, plant flag on moon
UAE’s 1st female astronaut aims to inspire future generations, plant flag on moon
2 hours ago | Tech
Jaker confident top order will deliver in Pakistan
Jaker confident top order will deliver in Pakistan
2 hours ago | Sports
Iran warns of ‘precision’ strike on Tel Aviv
Iran warns of ‘precision’ strike on Tel Aviv
3 hours ago | International
US threatens to cut off Starlink access for Ukraine over mineral deal
US threatens to cut off Starlink access for Ukraine over mineral deal
3 hours ago | Tech
Traders in panic after series of robberies in Mirpur
Traders in panic after series of robberies in Mirpur
3 hours ago | City
Country’s RMG sector regains momentum
Country’s RMG sector regains momentum
4 hours ago | Special
Lady Gaga to perform free concert on Rio's Copacabana beach
Lady Gaga to perform free concert on Rio's Copacabana beach
4 hours ago | Entertainment
US-backed YPG continues to use child soldiers in Syria, expert says
US-backed YPG continues to use child soldiers in Syria, expert says
4 hours ago | International
Global Ministerial Conf: Bangladesh also walks out during Israeli speech
Global Ministerial Conf: Bangladesh also walks out during Israeli speech
4 hours ago | National
There is no pressure against India: Haris Rauf
There is no pressure against India: Haris Rauf
4 hours ago | Sports
Dhaka tops global air pollution ranking with "unhealthy" air quality
Dhaka tops global air pollution ranking with "unhealthy" air quality
4 hours ago | City
Man who attacked Salman Rushdie found guilty of attempted murder
Man who attacked Salman Rushdie found guilty of attempted murder
4 hours ago | International
‘Mon Duari’ tops trending charts, fans are enthralled
‘Mon Duari’ tops trending charts, fans are enthralled
5 hours ago | Entertainment
Pentagon to fire 5,400 workers
Pentagon to fire 5,400 workers
5 hours ago | International
Stable temperatures, dry weather expected in Dhaka
Stable temperatures, dry weather expected in Dhaka
5 hours ago | City
Jaintapur farmers thrive with bumper watermelon harvest
Jaintapur farmers thrive with bumper watermelon harvest
6 hours ago | Business
Arab leaders discuss ‘Palestinian cause’, Gaza developments
Arab leaders discuss ‘Palestinian cause’, Gaza developments
6 hours ago | International
Most Read
Country’s RMG sector regains momentum
Country’s RMG sector regains momentum
4 hours ago | Special
Bangladesh, India vow to bring border killings to zero
Bangladesh, India vow to bring border killings to zero
6 hours ago | National
Global Ministerial Conf: Bangladesh also walks out during Israeli speech
Global Ministerial Conf: Bangladesh also walks out during Israeli speech
4 hours ago | National
Imported fruit prices surge by up to Tk100 per Kg ahead of Ramadan
Imported fruit prices surge by up to Tk100 per Kg ahead of Ramadan
23 hours ago | Business
‘Mon Duari’ tops trending charts, fans are enthralled
‘Mon Duari’ tops trending charts, fans are enthralled
5 hours ago | Entertainment
Lady Gaga to perform free concert on Rio's Copacabana beach
Lady Gaga to perform free concert on Rio's Copacabana beach
4 hours ago | Entertainment
25 foreign nationals pay tribute to language martyrs
25 foreign nationals pay tribute to language martyrs
22 hours ago | National
Jaker confident top order will deliver in Pakistan
Jaker confident top order will deliver in Pakistan
2 hours ago | Sports
It’s not that you will forget Bengali just by learning English: CA
It’s not that you will forget Bengali just by learning English: CA
18 hours ago | National
Projects launched with the intent of stealing
Projects launched with the intent of stealing
2 hours ago | Special
Stable temperatures, dry weather expected in Dhaka
Stable temperatures, dry weather expected in Dhaka
5 hours ago | City
US threatens to cut off Starlink access for Ukraine over mineral deal
US threatens to cut off Starlink access for Ukraine over mineral deal
3 hours ago | Tech
Flights to soar from Bogura after 15 years
Flights to soar from Bogura after 15 years
2 hours ago | Special
Saudi Ambassador extends greetings in Bengali on Feb 21
Saudi Ambassador extends greetings in Bengali on Feb 21
21 hours ago | National
Only election can restore true democracy: Rizvi
Only election can restore true democracy: Rizvi
22 hours ago | National
Fire breaks out at sawmill in Khilgaon
Fire breaks out at sawmill in Khilgaon
16 hours ago | City
Faruque warns of conspiracy if election is delayed
Faruque warns of conspiracy if election is delayed
20 hours ago | National
Traders in panic after series of robberies in Mirpur
Traders in panic after series of robberies in Mirpur
3 hours ago | City
85 Bangladeshis among 598 immigrants detained in Myanmar
85 Bangladeshis among 598 immigrants detained in Myanmar
1 hour ago | National
Jaintapur farmers thrive with bumper watermelon harvest
Jaintapur farmers thrive with bumper watermelon harvest
6 hours ago | Business
No pain, no gain? Hardly. This year’s fitness buzzword is ‘recovery’
No pain, no gain? Hardly. This year’s fitness buzzword is ‘recovery’
21 hours ago | Lifestyle
Hamas gave body of 'Gazan woman' not hostage Shiri Bibas: Netanyahu
Hamas gave body of 'Gazan woman' not hostage Shiri Bibas: Netanyahu
23 hours ago | International
Govt emphasizes preserving endangered languages ​​and ensuring diversity: Foreign Secretary
Govt emphasizes preserving endangered languages ​​and ensuring diversity: Foreign Secretary
20 hours ago | National
Babar returns home performing Umrah
Babar returns home performing Umrah
17 hours ago | National
New political party: Who are in discussion for top six positions
New political party: Who are in discussion for top six positions
1 hour ago | National
South Africa wins the toss, decides to bat against Afghanistan
South Africa wins the toss, decides to bat against Afghanistan
23 hours ago | Sports
ADB, World Bank partner on FMRF to increase development impact
ADB, World Bank partner on FMRF to increase development impact
23 hours ago | Business
Bangladesh embassy in Tokyo observes IML Day
Bangladesh embassy in Tokyo observes IML Day
20 hours ago | National
Dhaka tops global air pollution ranking with "unhealthy" air quality
Dhaka tops global air pollution ranking with "unhealthy" air quality
4 hours ago | City
Climate change is shrinking glaciers faster than ever
Climate change is shrinking glaciers faster than ever
23 hours ago | International