On May 10, 2009, Vice Foreign Minister Song Tao told the media that the second China-Britain economic and financial dialogue to be held on May 11 is of great importance. The two sides hope to strengthen cooperation in all fields and promote economic development through the dialogue.

He said that the dialogue is a major action of China and Britain of implementing the consensus reached at the G20 London Financial Summit. Under the severe challenges of the international financial crisis, the two countries face the urgent tasks of maintaining the economic growth, readjusting the economic structure and ensuring people's livelihood and full employment.

Both China and UK oppose trade and investment protectionism, support the reform of international financial system and attach importance to development-related issues. Therefore, the two sides will send a message to the international community through the dialogue that they will join hands to tackle the economic crisis, boost market confidence and push forward economic growth.

Nobody knows when the current international financial crisis which is still spreading will end. All the economies in the world are confronted with serious challenges and the world economy is in recession. In this era of deepening globalization, countries around the globe have interwoven interest and increasing interdependence. It is impossible for any country to stay safe alone. To address the crisis, countries need to make joint efforts and enhance cooperation, he noted.

With the theme of "supporting sustainable growth through enhanced China-Britain cooperation," the dialogue will be co-chaired by Chinese Vice Premier Wang Qishan and British Chancellor Alistair Darling. Wang will also meet with British Prime Minister Brown, Prince Andrew and former Prime Minister Blair as well as representatives of the British business and financial community.

Song pointed out that these meetings and talks will further enhance the development of China-Britain all-round strategic partnership, increase the political mutual trust between the two countries, expand and deepen the bilateral cooperation in various fields, which is of great significance to the growth of the two economies and the world economy as well.

He added that through the dialogue China and Britain will strengthen exchanges and communication and complement each other in terms of macroeconomic growth, macro policies and implementation of follow-up activities of London Financial Summit; enhance consensus, especially on opposing trade and investment protectionism and pushing forward the reform of international financial system and take joint actions; advance financial cooperation in order to boost the economic growth and bilateral trade and consolidate the cooperation on technology trade in order to raise the bilateral cooperation to a new level.

Assistant Financial Minister Zhu Guangyao said that the dialogue will focus on four topics: first, support economic growth and social welfare, discuss macroeconomic policies including fiscal, monetary and social security policies, major issues related with the reform of international financial system and how to strengthen cooperation to realize the Millennium Development Goals; second, discuss financial stability and capital market development; third, enhance bilateral energy and environmental cooperation for green growth; fourth, promote trade and investment cooperation.

Both China and Britain expect to make the dialogue a full success and on this basis to promote the bilateral cooperation in economic and financial sectors, lift up the bilateral economic and trade cooperation and enrich the connotation of the all-round bilateral strategic partnership, according to Zhu.

China-Britain economic and financial dialogue started in January 2008 under the joint initiative of Chinese Premier Wen Jiabao and British Prime Minister Brown. The first dialogue was held in Beijing on April 15, 2008.