As China and the United Kingdom resume their economic and financial dialogue after a five-year hiatus, banking giant Standard Chartered is poised to play a pivotal role in facilitating trade and investment flows between the two countries, as well as the global market, said Jose Vinals, group chairman of the British multinational bank.
The 11th edition of the dialogue, set to take place in Beijing on Saturday, will be co-chaired by Chinese Vice Premier He Lifeng and British Chancellor of the Exchequer Rachel Reeves. This will be the first meeting since 2018, underscoring the importance of restoring high-level discussions at a time of growing global economic uncertainty.
In an interview with China Global Television Network (CGTN) on Friday, Vinals expressed optimism about the dialogue's potential to foster broader cooperation. He highlighted the alignment of interests between China and the UK in key areas such as trade, sustainability and combating climate change.
"I think that the fact that this economic and financial dialogue between China and the UK is happening after an interruption of five years is most important. China and the UK, and many other countries, have an interest in continuing to foster open cross-border trade and investment flows. You also have common interest in things like promoting the green and sustainability agenda at a time when the world is challenged by climate warming and things like that. So, these are areas of significant common interests, and where cooperation between China and the UK is critical, but also cooperation between China and many other economies in the world," he said.
As part of its strategy to support this agenda, Standard Chartered sees itself as a critical intermediary in strengthening economic ties between China and the UK. The bank is also expanding its role as a connector between China and global markets.
"Standard Chartered has a key role to play as a super connector between China and the UK, and between China and the rest of the world. We are connecting China to the rest of the world by helping Chinese companies, both financial institutions and corporates, do business outside of China. We are also helping Chinese individuals with wealth management and diversifying their wealth across different products, both onshore and offshore. But we're also helping bring the rest of the world to China in the sense of bringing Chinese opportunities to our international investors, and then helping multinational companies who want to do more business in China or set up shop in China, do business here," Vinals said.
Standard Chartered seeks to strengthen China-UK ties as economic dialogue resumes
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
