The UK and China are reportedly set to reinvigorate their ‘golden era’ business dialogue during Prime Minister Keir Starmer‘s visit to Beijing next week.
UK, China Move to Reset Business Ties
The two countries are planning to revive the “UK-China CEO Council,” which was initially established in 2018 under former UK Prime Minister Theresa May and former Chinese Premier Li Keqiang during what was then referred to as a “golden era” in their relations, reported Reuters. The council will include top executives from leading British companies such as AstraZeneca (NASDAQ:AZN), BP, HSBC, Intercontinental Hotels Group, Jaguar Land Rover, Rolls Royce, among others.
On the Chinese side, companies like Bank of China, China Construction Bank, China Mobile, Industrial and Commercial Bank of China, China Railway Rolling Stock Corporation, China National Pharmaceutical Group, and BYD (OTC:BYDDF) are expected to participate.
The visit and the council’s agenda are contingent on China’s plans to build its largest embassy in Europe in London, a proposal that received the green light on Tuesday.
Trump’s Trade Rhetoric Reshapes Allies
The rekindling of the business dialogue between the UK and China comes at a time of global economic uncertainty. The U.S.-China trade war has been a significant factor in this, with other countries, such as Canada, also navigating their relationships with these two economic powerhouses.
China strategist Michael Pillsbury warned that Canada’s trade deal with China and its decision to bypass President Donald Trump could backfire. On the other hand, Economist Justin Wolfers slammed Trump’s aggressive trade policies as the reason why U.S. allies are turning towards China.
Meanwhile, UK Prime Minister Keir Starmer, during Prime Minister’s Questions in the British parliament, on Wednesday, vowed that he “will not yield” to Trump’s threats of tariffs over the UK’s support for Greenland. However, he plans to continue to “constructively” engage with the U.S. on this. Notably, Trump has also criticized Starmer’s decision to hand over sovereignty of the Chagos Islands to Mauritius, labeling it “an act of great stupidity.”
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
