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Li Keqiang Attends and Addresses a Welcome Banquet Held by Business Delegates from China and UK

2014/06/19

In the afternoon of June 17 local time, Premier Li Keqiang attended and addressed a welcome banquet held by business delegates from both China and the UK at the Natural History Museum in London.

Li Keqiang said that during his visit to UK this time, the two sides have signed a series of agreements on mutually beneficial cooperation and established a deeper economic and trade relationship. Firstly, the two sides agreed to boost cooperation in such fields as nuclear power and high-speed railway, combining China's enormous market and advantageous equipment with the advanced technology and innovative ideas of the UK to realize joint creation between China and the UK and cooperation on joint exploration of the third-party market. Secondly, China and the UK will strengthen financial cooperation. We announced to establish a RMB clearing bank in London, realizing the direct transaction between RMB and pound, which will not only consolidate London's status as an international financial hub, but also promote the internationalization of RMB and liberalization and facilitation of trade and investment. Thirdly, to expand people-to-people and cultural exchanges. China welcomes the UK to simplify the visa application procedure for Chinese citizens. China also welcomes more investors, students and tourists from the UK to come to China, which will further cement public opinion foundation for the China-UK relations.

Li Keqiang stressed that the China-UK relations, especially the China-UK economic and trade relations, are characterized by mutual benefits and win-win results. As the representatives of the culture, civilization and wisdom of the East and the West, China and the UK should establish a partnership featuring common growth and inclusive development and make joint efforts to build a better future.

Representative of the UK government and Chancellor of the Exchequer George Osborne said in his speech that the UK and China are significant cooperative partners. China's reform and opening-up has cast far-reaching influence upon the world and effectively promoted the development of UK-China relations. Premier Li Keqiang's current visit to the UK has achieved fruitful results. The establishment of RMB clearing bank in London will vigorously boost financial cooperation between the UK and China and inject new vigor into the practical cooperation between the two sides. The UK is willing to work together with China to further expand trade and investment, and welcomes more Chinese enterprises to increase investment in the UK and jointly develop the third party market.

Mme. Cheng Hong, wife of Premier Li Keqiang, Prince Andrew, Duke of York, and around 600 representatives from industrial, commercial and financial circles of China and the UK were present.

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