China and the United Kingdom are set to speed up their joint feasibility study on establishing a bilateral services trade agreement, a move that could significantly enhance cooperation in high-value service sectors. This development comes as both nations aim to bolster economic ties amid ongoing global trade challenges.
During the recent China-UK Joint Economic and Trade Commission meeting held in London, Chinese Commerce Minister Wang Wentao expressed support for increased British investment in China. He urged the UK to maintain a fair and non-discriminatory environment for Chinese businesses operating within its borders. The discussions also reaffirmed the commitment of both nations to uphold the rules-based global trading system through the World Trade Organization.
UK Business and Trade Secretary Peter Kyle emphasized that expanding cooperation in services is a crucial component of the bilateral relationship. He noted that the rapid growth of China’s services sector presents significant opportunities for British companies and expressed the UK’s readiness to strengthen collaboration via the bilateral services partnership and the ongoing trade agreement study.
During the talks, China also voiced concerns regarding the UK’s new steel import restrictions, calling on Britain to adjust these measures to ensure they align with international trade standards.
Experts suggest that the proposed services trade agreement could open new avenues in sectors such as finance, banking, education, professional services, skills training, and creative industries. Meanwhile, merchandise trade between the two countries is on the rise, with bilateral goods trade experiencing a 6.5% increase year-on-year during the first five months of 2026.