In a move poised to enhance economic collaboration, China and the United Kingdom have agreed to fast-track a joint feasibility study focused on a bilateral services trade agreement. This development aims to foster cooperation in high-value service industries, potentially reinforcing economic ties amidst global trade uncertainties.
The decision emerged from the China-UK Joint Economic and Trade Commission meeting held in London. Chinese Commerce Minister Wang Wentao expressed optimism about increased British investment and emphasized the importance of a fair and non-discriminatory environment for Chinese companies operating in the UK. Both nations reiterated their dedication to upholding the rules-based global trading system under the World Trade Organization’s framework.
UK Business and Trade Secretary Peter Kyle underscored the significance of intensified services cooperation as a central element of UK-China relations. He pointed out the substantial opportunities the rapid expansion of China’s services sector presents for British businesses. Kyle confirmed the UK’s eagerness to deepen collaboration through the bilateral services partnership and the ongoing study of the trade agreement.
China also raised concerns about the UK’s recent steel import restrictions, urging a review to ensure compliance with international trade standards. Experts suggest that the proposed services trade agreement could unlock potential in sectors such as finance, banking, education, professional services, skills training, and creative industries.
Meanwhile, merchandise trade between the two countries showed growth, with bilateral goods trade increasing by 6.5% year-on-year during the first five months of 2026. This continued growth in trade underscores the strengthening economic relations between China and the UK.