UK-China trade relations have entered a ‘Golden Era’ which is the foundation of global prosperity, Secretary of State for International Trade, Dr Liam Fox said on Thursday 02 February.

Speaking at the fourth annual CBI Chinese New Year Dinner in London, Dr Liam Fox delivered a key note speech setting out the UK’s ambitions to become a champion of free trade and to build the UK-China partnership of the future.

Celebrating the Year of the Rooster, he joined CBI’s Director-General Carolyn Fairbairn to speak to an audience of key UK and Chinese business leaders, including the chairman of Huawei UK Lord Browne of Madingley, and Aston Martin CEO, Andy Palmer.

Secretary of State for International Trade, Dr Liam Fox, said:

“Since the referendum, the United Kingdom has been pleased by the positivity with which China has greeted our new place in the world, matched by the record levels of investment into the UK from China. This is a hugely positive reality and a boost to our trading relationship.

“Indeed, just over a year ago, the UK and China welcomed the start of a new ‘Golden Era’ in relations between our two countries. As we look to the future, ours is a relationship that will be increasingly important, not only for Britain and China, but around the world as we seek global prosperity.”

On UK-China trade and investment, Dr Fox, said:

“China is the world’s second largest economy, and one of the fastest-growing markets on earth; now, more than ever, China’s future is all of our futures. In recent years, the Anglo-Chinese commercial relationship has been an unqualified success. The value of UK exports to China has grown by 108% since 2010 – a growth rate that is undeniably impressive.

China is our third-largest export market, and the second-largest destination for UK investment.

“This trajectory is set to continue, as the Department for International Trade works to connect British suppliers to China’s major e-commerce platforms, establishing reliable distribution channels for instant online sales between the UK and China.

“As two of the world’s largest economies, the United Kingdom and China have the strength, and the responsibility, to work together to build a more peaceful and prosperous world for all.