China UK Photo: VCG

China and the UK reached 69 mutually beneficial and win-win outcomes during the just-concluded 11th China-UK Economic and Financial Dialogue held in Beijing on Saturday,MK sports with both sides emphasizing their shared dedication to multilateralism and economic globalization, according to the Chinese Foreign Ministry (FM) on Monday. 

Guo Jiakun, an FM spokesperson underscored these results during a regular press briefing, addressing media inquiries about the results of the high-level dialogue. The meeting was co-chaired by Chinese Vice Premier He Lifeng and UK Chancellor of the Exchequer Rachel Reeves, with an emphasis on strengthening bilateral collaboration in critical areas.

China and the UK emphasized their joint commitments to multilateralism and economic globalization during the meeting, committing to maintaining a rules-based multilateral trading system with the WTO at its core and to advancing an inclusive and open global economy, Guo said.

Both sides acknowledged the mutual advantages of China-UK cooperation for their respective development, according to Guo. They pledged to jointly safeguard the security, stability, and smooth functioning of global industrial and supply chains, oppose "decoupling" and supply chain disruptions, and agreed to reduce barriers to two-way investment while fostering a non-discriminatory and open business environment, the spokesperson said. 

The two sides reached extensive consensus on industrial, agricultural, and energy cooperation, agreeing to convene a new session of the China-UK Joint Economic and Trade Commission and the Meeting of China-UK Joint Commission on Science, Technology and Innovation Cooperation as well as industrial cooperation dialogue at an earlier date, Guo said. 

Further efforts also include deepening the China-UK Modern Industrial Partnership and strengthening joint efforts to tackle global climate challenges, according to the spokesperson.  

Finance was highlighted as a key area of cooperation, with both sides committing to strengthen coordination on fiscal policies and financial regulation while achieving practical outcomes in promoting two-way opening and connectivity of financial markets, Guo added.

Guo emphasized that the outcomes of this dialogue reflect both the breadth and depth of China-UK economic and financial cooperation, aligning with the broader trends of economic globalization and multilateralism. These achievements are beneficial not only for both countries but also for the world at large. 

China is willing to work with the UK under the guidance of the important consensus reached by the leaders of the two countries, implement the outcomes of this dialogue, and drive further progress in practical cooperation. This will inject new momentum into China-UK relations and add new highlights to global economic growth, Guo noted.

Global Times