In a move that could bolster economic cooperation amid ongoing global trade challenges, China and the United Kingdom have agreed to expedite a collaborative feasibility study for a bilateral services trade agreement. This initiative aims to enhance collaboration in high-value service sectors, signaling a commitment to stronger economic ties between the two nations.
The recent China-UK Joint Economic and Trade Commission meeting in London served as the platform for these discussions. Chinese Commerce Minister Wang Wentao expressed a warm welcome to increased investments from UK businesses and urged Britain to maintain a fair and non-discriminatory environment for Chinese enterprises operating within its borders. Both countries reaffirmed their dedication to upholding the rules-based global trading framework facilitated by the World Trade Organization.
UK Business and Trade Secretary Peter Kyle emphasized the significance of expanding cooperation in the services sector, describing it as a vital component of the bilateral relationship. He acknowledged the rapid growth of China’s services sector as a promising avenue for British companies and reiterated the UK’s eagerness to strengthen collaboration through the bilateral services partnership and the ongoing trade agreement study.
Amidst these discussions, China voiced concerns regarding the UK’s newly implemented steel import restrictions, urging a revision to ensure alignment with international trade standards.
Experts suggest that the anticipated services trade agreement could open new avenues for collaboration in areas such as finance, banking, education, professional services, skills training, and creative industries. Meanwhile, the merchandise trade between China and the UK has shown resilience, with a 6.5% year-on-year increase in bilateral goods trade recorded during the first five months of 2026.