2015年CRI UK Try to Push Its Relations with China to New High: UK Chancellor

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George Osborne says that as an open economy, the UK welcome Chinese investors¹ and is trying to attract more Chinese investment.

"There is so much more we can do together, Britain and China. And there is a phenomenal potential here in this country. And where some people are cautious about getting more involved with china; we say quite the reverse. We want to get more involved with China. We think this is going to be a source of jobs and growth of both our countries. And we want to have a golden decade and we want Britain to be China's best partner in the west."

The Chancellor² says a higher level of bilateral³ cooperation will benefit both countries.

According to the Chancellor, China is not only a place with huge potential in terms of the traditional economy, but also in the emerging new economy.

"We want to make sure that the British-china relationship is second to none. And I think we started its well. Britain get more investment from China than many other European countries all put together. We export a huge amount to China and export is increasing. So these is also change in the kind of old pattern of the economy as China itself changes and becomes that more consumption-led, service-driven economy."

China has become Britain's fourth largest trade partner, and Britain is China's second largest trade partner within the European Union.

Osborn says China currently is going through a transition; but it is still very important for global growth, which actually provides opportunity for Britain.

"Britain's strengths which are high-tech⁵ manufacturing, great services, these things are exactly the kind of things that the economy of China is becoming. It's going need more of it. And there are fantastic British businesses here everything from advertising⁶ agencies, television production companies, insurance companies, banks, and this is what Britain is good at."

Osborne has arrived ahead of a planned state visit to the UK by Chinese President Xi Jinping, coming up later this year. It will be the first such visit by a Chinese president to the UK in a decade.

Accompanying the chancellor is Treasury⁷ minister Lord Jim O'Neil, Business Secretary Sajid Javid and Energy Secretary Amber⁸ Russ.

The Chancellor will meet Chinese Vice⁴ Premier⁹ Ma Kai during the 7th UK-China Economic and Financial Dialogue later on today.

He will also visit Shanghai, Chengdu and Urumqi.

For CRI, this is Wang Wei.