UK finance and trade leaders to join Keir Starmer on China visit
Paul Ellis/AFP via Getty Images
Chancellor Rachel Reeves and Trade Secretary Peter Kyle will visit China next week as the UK seeks to strengthen its economic ties with the Asian superpower.
The chair of the Financial Conduct Authority is also expected to travel to the country as Prime Minister Keir Starmer leads a delegation of roughly 50 C-suite leaders and chairs from business and cultural institutions, News.Az reports, citing Politico.
Executives from HSBC, Standard Chartered, and the London Stock Exchange Group have been invited. The guest list is heavily weighted towards financial services.
The trip comes as the government faces growing international pressure to take a tougher line on Chinese industrial overcapacity — and a backlash back home over its recent decision to approve a super-embassy near the Tower of London despite a raft of security concerns.
“It’s substantially important for businesses,” said a senior business representative, granted anonymity to speak about the preparations. “In terms of conversation and talk, there's a step change under the new government,” they said, arguing Labour had made swift progress since coming to office. Some firms “weren't able to engage with the Chinese government at all 12 months ago,” they noted.
Industry executives familiar with the talks said the U.K. has been pushing for a Memorandum of Understanding covering services trade, as well as recognition of professional qualifications for accountants, designers, and architects — and visa-free access to China for Brits making short-term business trips.
The U.K. is also hopeful of positive movement on whisky tariffs, according to two of the industry figures. In February 2025, China doubled its import tariffs on brandy and whisky, removing its provisional 5 percent tariff and applying the 10 percent most-favored-nation rate.
News.Az
By Ulviyya Salmanli
