The eighth UK-China Economic and Financial Dialogue was held in UK on November 10th 2016. Chinese Vice-Premier Ma Kai and British Prime Minister Theresa affirmed the desire of both sides to strengthen the "Golden Era" of relations as they met.
The term "golden era" was coined by President Xi and former UK Prime Minister David Cameron last year during Xi's state visit to the UK. Ma said that the meeting between Xi and May at the G20 Leaders Summit in Hangzhou in September was another affirmation of China and the UK's "golden era" of relations.
May said she wanted China to know that Britain was "open for business" as it prepares for life outside the European Union."As we take the next step in this golden era of relations between the UK and China, I am excited about the opportunities for expanding trade and investment between our two countries," said May.
According to Article 15 of the Accession Protocol of China to the WTO, other WTO members are allowed, in anti-dumping cases, to compare the cost of China's exports with that of a surrogate country (third country). However, this practice was only to be maintained for 15 years, meaning it is coming to an end in 2016. Ma said China expects the UK to maintain objectivity on this matter, and fulfill its obligations in due time and in a comprehensive and thorough way.
May said the dialogue is an important part of the golden era of relations and she expects more Chinese investment in the UK.
A series of announcements on infrastructure were expected to be made including CITIC and Chinese Developer ABP's investment of 320 million pounds ($397 million) in the 1.7 billion pound London Royal Albert Docks project and up to 40 million pounds of investment by the UK government in the Asian Infrastructure Investment Bank based in Beijing, according to the official British government website.
Apart from investment, CITIC Construction will also establish its UK HQ at Royal Albert Dock. When completed, the project is expected to create 30,000 jobs and become a commercial hub of a comparable scale to the City of London and Canary Wharf.