In a move poised to enhance economic collaboration, China and the United Kingdom have agreed to expedite a joint feasibility study on a bilateral services trade agreement. This development represents a crucial advancement towards expanding their partnership in high-value service industries, even as global trade faces uncertainties.
At the China-UK Joint Economic and Trade Commission meeting held in London, Chinese Commerce Minister Wang Wentao expressed support for greater British investment in China. He urged the UK to maintain a fair and non-discriminatory business environment for Chinese companies operating there. Both nations reiterated their dedication to the rules-based global trading system, emphasizing their support through the World Trade Organization.
UK Business and Trade Secretary Peter Kyle underscored the importance of growing cooperation in the services sector, a central aspect of the bilateral relationship. He pointed out that the rapid growth of China’s services sector presents substantial opportunities for British businesses. Kyle confirmed the UK’s commitment to deepening collaboration through the bilateral services partnership and the ongoing study of the trade agreement.
China also addressed its concerns regarding the UK’s recent steel import restrictions, urging a revision of these measures to align with international trade standards. Meanwhile, experts suggest that the proposed services trade agreement could open new avenues in various sectors, including finance, banking, education, professional services, skills training, and creative industries.
In addition to the focus on service industries, merchandise trade between China and the UK has shown positive momentum. Bilateral goods trade increased by 6.5% year-on-year during the first five months of 2026, highlighting the continued economic engagement between the two countries.