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After a UK politician said that the country will ramp up curbs on trade and investment with China, Chinese officials and experts on Friday urged Britain not to politicize bilateral economic and trade relations as the essence of China-UK economic and trade cooperation is mutual benefit.

The UK's Deputy Prime Minister Oliver Dowden delivered a speech on economic security on Thursday, mentioning that the UK would strengthen its review of outward investment in technology and external educational exchanges, the official website of the UK government showed.

Britain's moves come after US President Joe Biden signed an executive order last August curbing outbound investment in strategic sectors like semiconductors and AI, according to a report by Politico.

That followed a visit to the White House by UK Prime Minister Rishi Sunak in June, during which he "committed" the UK to setting up an outbound investment screening regime with the ability "to assess the potential national security risks" posed by investment, read the report.

In response, a spokesperson for China's Embassy in the UK said on Friday that the remarks related to China distorted the facts and were extremely slanderous.

Imposing restrictions on outward investment in technology and external education exchanges is unwise and will seriously affect the development and progress of the UK's technology and education, the spokesperson noted, adding that UK politicians should stop spreading rumors to confuse the public, and stop undermining China-UK relations.

"The essence of China-UK economic and trade cooperation is mutual benefit. The potential for expanding mutually beneficial collaboration between the UK and China is huge. We hope that the business community on both sides will seize the opportunity and take positive actions," China's Ambassador to the UK Zheng Zeguang said on Thursday at the China-Midlands Cooperation Forum.

British companies are welcome to invest in China and to provide quality products and services to the Chinese market. The Chinese Embassy in the UK will, as always, provide support and convenience for the business communities of both countries, Zheng noted.

In terms of the Chinese economy, the ambassador noted that since the beginning of this year, the country's economy has continued to improve, with GDP growing 5.3 percent year-on-year in the first quarter. "We are full of confidence in realizing the economic and social development goals we have set. China will expand market access in a number of areas and further build a market-oriented, law-based and internationalized first-class business environment, bringing new opportunities for foreign investors to develop in China," Zheng said.

Zheng noted that the Western media are keen to talk down China's development prospects, as they have been doing for the past few decades, but their prophecies have been and will continue to be shattered by the facts. Some Western politicians, under the pretext of safeguarding economic security, have advocated "decoupling" and "de-risking" with China, which is only self-defeating and will not stop China's development, he said.

"The move may lead to further tension in the economic and trade relations between China and the UK, especially in the area of investment. In addition, the UK's international image as an open market country could be damaged, affecting its long-term economic development," Wang Peng, an associate research fellow at the Beijing Academy of Social Sciences, told the Global Times on Friday.

Wang noted that the UK is being influenced by political factors. However, an overemphasis on political and security factors may lead to economic decisions that deviate from the laws of the market and affect the efficiency of resource allocation, he said.

"China and the UK have great cooperation potential in sectors including new energy and financial services as well as education and culture. The UK should balance its competition and cooperation with China to achieve mutual benefits," the expert noted.

Global Times