China’s Premier Li calls for deeper cooperation with UK, vows to open economy

China’s Premier Li Keqiang is looking to stabilize the relationship with the UK, calling for deeper cooperation and communication amid simmering political relations.

Key quotes

“Stable China-UK relations can help safeguard free and fair trade and promote global economic recovery” at a time of many uncertainties in international affairs.”

“China will continue to open up its economy to the world, and treat all market entities including foreign companies equally.”

“China is willing to deepen communication with countries on fighting the virus and share its research results on treating variants of the virus.”

These comments come as tensions between the two countries increased this year, with the UK criticizing Beijing’s actions in Hong Kong and alleged human rights abuses in Xinjiang.

Market reaction

At the press time, USD/CNY is holding the lower ground just ahead of the 4.7000 level while GBP/USD battles 1.3800 amid a steadier US dollar vs. its main rivals.