Chinese Ambassador to Britain Liu Xiaoming said on Monday that there are huge potential and broad prospects for the cooperation between Chinese city of Shenzhen and Britain in various sectors.

Liu, who made the comment at the China (Shenzhen)-UK (London) Economic and Trade Cooperation Conference, said he believed these sectors range from scientific and hi-tech innovation and financial services, to creative industry and AI manufacturing.

"Shenzhen is a microcosm of China's rapid development," he said. "The city is the standard bearer of reform and opening up."

Liu said that China's reform and opening up has been the "secret" to Shenzhen's leapfrogging development, and the 40-year-old economic reforms will continue to be the driving force behind the high quality growth of the Chinese economy.

He said Shenzhen, known as China's capital of innovation, has innovation in its genes.

Shenzhen has forged close ties with the City of London, Scotland and the British Virgin Islands. Companies from Shenzhen, such as Huawei, BYD and China Merchants Bank, are achieving great success here in Britain.

"Shenzhen will play a leading role in the mutually beneficial cooperation between our two countries, and continue to contribute its part to China-UK 'Golden Era'," Liu said.