Win-win nature of Sino-UK ties evident

That Sino-UK relations have warmed up since UK Prime Minister Keir Starmer took office in early July last year, particularly after the meeting between Chinese President Xi Jinping and Starmer on the sidelines of the G20 Summit in Rio de Janeiro in November, at the height of the then US administration's efforts to drive a wedge between US allies and China, demonstrates a tacit understanding between them that they should resist efforts to destabilize their relations.

In their November meeting, the two leaders agreed that the two countries should strengthen dialogue, enhance mutual understanding and carry out exchanges and cooperation with each other. This set a clear direction for the healthy development of bilateral ties.

It was under the guidance of their heads of state diplomacy that the 11th China-UK Economic and Financial Dialogue was held in Beijing in January. The dialogue mechanism had been suspended since 2019. The event, cochaired by Vice-Premier He Lifeng and visiting UK Chancellor of the Exchequer Rachel Reeves, produced 69 win-win outcomes related to bilateral cooperation in the fields of finance, trade, industry, agriculture, technology and energy.

During the dialogue, both sides expressed their willingness to uphold multilateralism and economic globalization, and their commitment to an open world economy and the rules-based multilateral trading system with the World Trade Organization at its core.

Among European countries, the United Kingdom is China's third-largest trading partner, second-largest investment destination and third-largest source of foreign investment in Europe, and China is the UK's largest trading partner in Asia.

Both Beijing and London believe that China-UK cooperation is conducive to the development of both countries, and working together to maintain secure, stable and smooth global industry and supply chains serves their common interests. It is good to see both countries oppose decoupling, and agree to reduce barriers to two-way investment and promote a nondiscriminatory and open business environment.

Against this backdrop, Chinese Foreign Minister Wang Yi's visit to the UK, as the first stop on his six-day tour to five countries starting on Wednesday, provides the opportunity for the two countries to discuss ways to deepen their economic and trade cooperation and strengthen their international coordination on the world stage.

Wang is scheduled to co-chair the China-UK Strategic Dialogue, which has been suspended since 2018. Linking ministries, departments and enterprises from the two sides to implement specific exchange and cooperation programs, the 10th such dialogue — along with many other exchange mechanisms that have been resuscitated after years of hibernation due to various reasons — is expected to add more meat to the bones of their cooperation framework.

By transforming their common understanding into concrete actions the two countries can release the untapped potential of their complementary economies.

This year marks the 21st anniversary of the formation of the China-UK comprehensive strategic partnership. Although the two countries differ in history, culture, values, and social systems, they share extensive common interests that provide solid ground for cooperation if they objectively view each other's development and do not let other countries derail their relations.

As Xi said during his meeting with the UK leader, the two countries enjoy vast space for cooperation in such areas as trade and investment, clean energy, financial services, healthcare and people's well-being, which should be further expanded to better benefit the people of both nations.

To that end, the two sides should adhere to the principles of mutual respect, open cooperation, and mutual learning, strive for mutual benefit and win-win outcomes, and jointly write a new chapter of healthy and stable bilateral relations.