Agreements worth £600 million ($732.45 million) were signed at the 2025 UK-China Economic and Financial Dialogue (EFD) as UK chancellor of the exchequer Rachel Reeves was hosted by Chinese vice premier He Lifeng in Beijing yesterday.
Both sides agreed to deeper cooperation across areas like financial services, trade, investment and climate to support secure growth.
Both sides agreed to deeper cooperation across many fields.
China will issue an inaugural overseas sovereign green bond—to be used to back environmentally sustainable projects—in London this year.
The agreements are expected to benefit working people and businesses across the United Kingdom, an official UK government release said.
“Overall, this government’s reengagement with China sets us on course to deliver up to £1 billion of value for the UK economy,” the release said.
“Alongside this are initiatives to improve capital market connectivity – including a commitment to further enhance the UK-China Stock Connect and welcoming the launch of UK-China over-the-counter bond business – as well as initiatives on pensions, countering illicit finance and sustainable finance cooperation,” Reeves said.
As part of this, China announced plans to issue an inaugural overseas sovereign green bond—to be used to finance environmentally sustainable projects—in London this year.
Both sides will also explore a Wealth Connect programme in recognition of the role asset management has to play in supporting growth. The agreements today in financial services will provide significant value to the UK economy over the next five years, the release added.
Fibre2Fashion News Desk (DS)