Trade to top PM Theresa May's agenda during trip to China

Theresa May has won a promise China will open up its markets to the UK on the first day of her official visit

Theresa May has won a promise China will open up its markets to the UK on the first day of her official visit

British Prime Minister Theresa May said on Wednesday that lawmakers would be given official analysis on any Brexit deal before they are asked to approve it, dismissing a leaked document showing the economy would be worse off under all exit scenarios.

Theresa May visits China augmenting golden era trade bonds that will boost the bipartisan trades between both the countries.

Buzzfeed News on Monday reported that Britain's economy would be worse off whether it leaves the European Union with a free trade deal, single market access, or with no deal at all, citing a government analysis.

China expert Kerry Brown, of King's College London, says May's challenge is to "inject a little dynamism into the relationship".

In terms of trade, British exports to China have grown by 60 percent since 2010, and, in 2016, saw a year-on-year increase of 30 percent, according to statistics provided by the Ambassador. "The depth of our relationship means we can have frank discussions on all issues".

"There are huge trade opportunities in China that we want to help British businesses take advantage of", said Mrs May, ahead of her trip.

"One of the things the prime minister will be focusing on this visit is looking at the scope to work with China, as China opens up its markets, to move towards a more ambitious trading relationship with China", Woodward told reporters.

As well as Beijing, she will also travel to Shanghai and Wuhan in central China's Hubei Province.

Chancellor of the Exchequer Phillip Hammond has also made it clear that the U.K.is a "natural partner" for the Belt and Road, announcing there would be a special envoy as well as a Belt and Road Council of senior business leaders in the Britain interested in helping to realize further progress in the great Initiative. During her stay in the Chinese capital, she will co-host the first annual bilateral prime ministerial meeting.

Later on Wednesday, May will head to Beijing, where she will meet Premier Li Keqiang.

Downing Street officials said Mr May was going "to support the Prime Minister". "We will continue to look at what more can be done to tackle global overcapacity in sectors such as steel, and to ensure that, as our companies innovate and develop new products, they are confident that their intellectual property and rights will be fully protected".

The trip also comes as the last governor of Hong Kong, Lord Patten, and former Liberal Democrat leader Lord Ashdown, urged Ms May to raise the plight of democracy activists in the former colony with China's Communist party leaders.

Latest News