China and the United Kingdom are taking a notable step forward in their economic relationship by agreeing to speed up a joint feasibility study on a bilateral services trade agreement. This initiative seeks to enhance collaboration in high-value service sectors, a move that could bolster economic ties amid prevailing global trade uncertainties.
During a recent meeting of the China-UK Joint Economic and Trade Commission held in London, China’s Commerce Minister Wang Wentao expressed a warm welcome to increased investment from UK businesses. He emphasized the importance of the UK providing a fair and non-discriminatory environment for Chinese companies operating within its borders. Both nations reiterated their dedication to upholding the rules-based global trading system through the World Trade Organization.
UK Business and Trade Secretary Peter Kyle underscored the significance of expanding cooperation in the services sector, describing it as a cornerstone of bilateral relations. He noted that the rapid growth of China’s services industry presents substantial opportunities for British companies. Kyle affirmed the UK’s readiness to deepen ties through the bilateral services partnership and the ongoing exploration of the trade agreement.
Amid these discussions, China voiced its concerns over the UK’s recent steel import restrictions, urging a revision to ensure alignment with international trade standards.
Experts suggest that the proposed services trade agreement has the potential to open up new prospects in diverse fields such as finance, banking, education, professional services, skills training, and creative industries. Meanwhile, merchandise trade between China and the UK continues to flourish, with bilateral goods trade witnessing a 6.5% increase year-on-year in the initial five months of 2026.