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Chinese firms in UK play important role in post-COVID recovery: City of London mayor

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International cooperation will be key to a global economic recovery from the COVID-19 pandemic, and the City of London remain committed to supporting the Chinese business community in the world’s leading financial center, William Russell, lord mayor of the City of London, said Wednesday.

“During this challenging year, Chinese companies in the UK continue to play an important role in collectively building back our economy, evidence of the continually flourishing UK-China bilateral relationship,” Russell spoke at a virtual trade forum held here.

Chinese companies in Britain have “enabled thousands of new job opportunities for people across the UK,” he added.

The City of London is the business district right at the center of the British capital. It’s often referred to as the Square Mile.

For his part, John Edwards, trade commissioner for China and Hong Kong of the British Department for International Trade, said at the event that Britain’s policy toward China is one of engagement.

“And that approach will remain consistent even if difficulties emerge. We are clear that it will not benefit either country to disengage or stop talking,” said Edwards.

The two economies are complementary in many areas and Britain wants trade with China to grow, Edwards said.

Liu Xiaoming, the Chinese ambassador to Britain, said as China advances the “dual circulation”, it will provide more cooperation opportunities and more development space for businesses of all countries, including Britain.

First introduced in May this year, the “dual circulation”, which takes the domestic market as the mainstay while letting domestic and foreign markets boost each other, has been placed high on the Chinese government’s agenda as the global economy suffers from the impact of the COVID-19 pandemic.

“China welcomes UK businesses and investments. And we hope that the UK will continue to foster an open, fair, just and non-discriminatory environment for Chinese businesses here in this country,” the ambassador said.

The forum, hosted by the China Chamber of Commerce in the UK, gathered about 500 Chinese and British participants to look at new post-COVID investment opportunities and joint response to climate change and green growth.

(XINHUA)

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