China and the UK accelerate a feasibility study for a services trade agreement, aiming to boost cooperation amid trade uncertainties.
China and the United Kingdom have agreed to accelerate a joint feasibility study on a bilateral services trade agreement, aiming to deepen cooperation in high-value services despite wider trade uncertainties, reports China Daily.
Chinese Commerce Minister Wang Wentao and UK Business Secretary Peter Kyle co-chaired the 15th meeting of the China-UK Joint Economic and Trade Commission in London. Mr. Wang stated that China welcomes greater British investment and urged the UK to provide a fair environment for Chinese firms.
Mr. Kyle emphasized that services trade is a key pillar of bilateral relations and highlighted opportunities for UK businesses in China's rapidly growing services sector. He mentioned that the UK is willing to strengthen policy communication and expand cooperation through the Bilateral Services Partnership and the feasibility study.
The Chinese side raised concerns over Britain's new steel trade measure, which cuts tariff-free import quotas by 51 percent and imposes a 50 percent tariff above that level. Mr. Wang urged the UK to adjust the measure to align with WTO rules.
Sebastian Wood, chairman of the China-Britain Business Council, stated that protectionist barriers would raise costs and hurt competitiveness. He argued that the best way to rebalance trade is to boost UK exports to China and encourage Chinese investment.
Zhao Fujun of the State Council's Development Research Center noted that services trade offers promising prospects in banking, finance, education, skills training, and creative industries. He remarked that the feasibility study could pave the way for tangible benefits to both sides.
Goods trade between China and the UK reached CNY307.3 billion (US$45.32 billion) in the first five months of 2026, up 6.5 percent year-on-year, according to customs data.
