UK, China pledge to boost investment in services at London trade summit

Aysu Bicer

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LONDON (AA) – The UK and China on Thursday held high-level economic talks in London, focusing on boosting trade in services and addressing key market access barriers between the two nations.

The UK-China Joint Economic and Trade Commission (JETCO) was co-chaired by Trade Secretary Peter Kyle and his Chinese counterpart Wang Wentao at Mansion House.

The summit follows a prime ministerial visit to China in January 2026, which the UK government says pushed forward “£2.2 billion in export deals and around £2.3 billion in market access opportunities for UK businesses over 5 years.”

According to a statement by the British government, the central focus of the discussions was a review of progress on a “Joint Feasibility Study on a potential Trade in Services Agreement” following technical discussions held just before the summit.

Ministers outlined a “Bilateral Services Partnership” aimed at deepening cooperation in professional and business services.

To achieve this, both sides discussed approaches to make progress on the “mutual recognition of (regulated) professional qualifications,” including at the provincial level in China, alongside facilitating cooperation between the UK Department for Business and Trade and the Cyberspace Administration of China.

Furthermore, they committed to supporting bilateral exchanges on opening up China’s legal services market and celebrated the launch of a new “UK-China Professional and Business Services Matchmaking Platform.”

Tensions and ‘level playing field’ concerns

While the talks aimed to expand commercial ties, the UK government noted that discussions also touched upon wider global trade tensions, macroeconomic imbalances, and priorities for World Trade Organization (WTO) reform.

British Trade Minister Kyle raised “level playing field issues that undermine fair competition for UK businesses,” alongside global supply chain challenges such as China’s “rare earth export controls.” Both sides acknowledged the need to maintain an “open dialogue on the national security implications of economic links.”

Furthermore, ministerial discussions covered “market access issues affecting UK businesses’ ability to sell and operate in China,” explicitly pointing to ongoing challenges in digital trade, cross-border data flows, agricultural, automotive, and pharmaceutical sectors.

Additionally, officials welcomed the establishment of a new “UK-China Business and Innovation Hub” in the Suzhou New District of Jiangsu Province.

The hub is intended to serve as a “launchpad for UK businesses entering the Chinese market and for Chinese companies exploring opportunities in the UK,” according to the statement.

Both nations have committed to continuing their economic cooperation in preparation for the next formal Economic and Financial Dialogue.