China, UK forge extensive, strong and pioneering partnership

By Zhang Ning Source:Global Times Published: 2015-10-14 23:08:01

Illustration: Liu Rui/GT

The mention of Britain often evokes mixed feelings among the Chinese people. Britain waged the Opium War against China in 1840, initiating a dark episode in modern Chinese history. It had years of frictions with China over the transfer of Hong Kong, and only officially recognized China's full sovereignty over Tibet in the first decade of the 21st century.

Yet Britain was the first major Western country to recognize the People's Republic of China, and it fought shoulder to shoulder with China against Fascism during WWII.

In recent decades, in particular, there has been a sea change in the relative strength and status of the two countries and in the nature of China-UK ties.

The two countries have shown growing willingness and ability to discard historical baggages and rise above differences in ideology, social system and cultural traditions to foster a better-than-ever partnership.

This partnership is now extensive, as bilateral cooperation covers almost every area from political and economic engagement to people-to-people exchanges and global governance.

It is strong, now in the second decade of the comprehensive strategic partnership.

And it is pioneering, as the two countries endeavor to break new grounds in the relations and cooperation between a major emerging country from the East and an established Western power.

In the words of its leadership, Britain aspires to be "China's best partner in the West" and "the country in Europe most open to China." Britain recognizes China's rise and is more supportive of the reform of international architectures to reflect new realities.

Britain was the first major Western country to join the Asian Infrastructure Investment Bank, setting in motion a wave of new Western entrants.

It has openly supported the yuan inclusion in the IMF Special Drawing Rights basket. It is also the first Western country to issue yuan-denominated sovereign debt and the first G7 country to agree a swap line with China.

Economic complementarity has boosted business ties.

China, as a strong manufacturing country, can help Britain upgrade its infrastructure.

Britain's robust services sectors are well placed to meet China's growing demand for quality services in the process of structural reform.

Bilateral trade increased 15.3 percent last year, the fastest between China and its major European trading partners. Britain is now China's top investment destination in Europe.

Chinese students are the biggest overseas community in British universities. And Britain has more Confucius Institutes and classrooms than any other European country.

In addition, China-UK cooperation has proven vital to addressing global challenges from the Iranian nuclear issue and Ebola epidemic to climate change and counter-terrorism. And they have made a difference by coordinating macroeconomic policies to promote world economic recovery and calling for improvements in international economic governance, including through the G20.

Chinese President Xi Jinping will soon pay a state visit to the UK, the first by a Chinese president in 10 years. UK Prime Minister David Cameron referred to 2015 as the "Golden Year" and the coming five years as a "Golden Time" for China-UK relations. Xi's visit will be the culmination of the "Golden Year" and usher in "Golden Time" for China-UK ties.

The visit will go a long way to enhancing and upgrading China-UK cooperation in all areas and will take the relationship to a new level. New and pioneering progress can be expected in various areas.

China and Britain should take substantive steps to synergize the Belt and Road Initiative with Britain's development strategies, such as Northern Powerhouse. This will make Britain the first major Western country to cooperate with the initiative.

Britain can further leverage its status of being China's gateway to Europe by facilitating the synergy between the Belt and Road Initiative and the Investment Plan for Europe, and encouraging early progress in the China-EU Bilateral Investment Treaty and initiation of feasibility studies for a China-EU FTA.

The two countries should also explore specific projects for production capacity cooperation in third markets, which will set an example for such win-win cooperation.

In the financial sector, new steps can be taken to advance the building of an offshore yuan market in London and strengthen cooperation in Purchasing Power Parity and green finance.

Britain should take concrete steps to show its market openness by encouraging investments by Chinese companies and working for progress in major projects such as the Hinkley Point nuclear plant and HS2 rail link.

All this will help deepen mutual trust and interdependence, which is conducive to the handling of sensitive issues in a constructive way through dialogue rather than open recrimination.

Looking ahead, there are still many more "firsts" to achieve, and new grounds to break in China-UK relations.

Xi commented that both China and Britain are major countries with extensive shared interests and common responsibilities. By working together, they will help make the world a more peaceful, secure and prosperous place.

The author is a commentator on current affairs. opinion@globaltimes.com.cn



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