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China, Britain to ink deals during Li's visit
Last Updated: 2014-06-13 00:08 | Xinhua/China Daily
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Chinese Premier Li Keqiang's upcoming visit to Britain will result in a number of bilateral deals regarding energy, automobile and finance, said Chinese Vice Minister of Commerce Gao Yan on Thursday.

Gao told a press briefing the deals include both inter-governmental agreements and business contracts.

Li will attend the annual meeting of Chinese premier and British prime minister and conduct official visits to Britain and Greece from June 16 to 21.

Li's visit to Britain will be his first visit to the European country since taking office in March last year, and another major diplomatic event with Europe following President Xi Jinping's tour in late March.

During his stay in London, Li will meet Queen Elizabeth II, and hold talks with British Prime Minister David Cameron.

Li will also attend a banquet with the two countries' business representatives and deliver a speech to British think tanks.

"The visit will further cement China-Britain political trust, enhance cultural exchanges and cooperation in nuclear power, high-speed railway, finance and high technology, and bring vitality and new content to the bilateral partnership," Chinese Vice Foreign Minister Wang Chao said.

Li's visit comes as both countries are celebrating the 10th anniversary of their strategic partnership.

The two countries have set up various high-profile exchange mechanisms in recent years including prime ministers' annual meeting, economic and financial dialogue, strategic dialogue and a mechanism for high-level cultural exchanges.

Britain is China's third largest trading partner in the European Union, the second largest investment source as well as a major destination for China's overseas investment. Two-way trade hit 70 billion U.S. dollars last year.

Calling China-British trade cooperation a "stabilizer" in bilateral ties, Gao Yan said China hopes Britain will help promote the EU's relaxation of export controls against China, the EU's restraint in trade remedy measures and joint efforts with China on the feasibility study of a China-EU free trade area.

Premier Li will tell the British financial community of China's initiatives in cementing cooperation with Britain in areas of finance, energy, infrastructure, technology and service trade, she said.

Li will also visit Greece following his Britain trip.

Railways, nuclear power on agenda of Li's European visit

China will likely explore business opportunities in the high-speed railway, nuclear power and shipbuilding industries during Premier Li Keqiang's upcoming visit to the United Kingdom and Greece, experts said.

Li is scheduled to begin a six-day visit to the two countries on Monday - his third European trip since taking office in 2013 - according to the Foreign Ministry.

He is slated to meet British Prime Minister David Cameron at his London residence on a "reciprocal visit" following the British leader's trip to China last year. Li will also meet Queen Elizabeth II. It will be the first visit to the UK by a Chinese premier in three years.

Vice-Foreign Minister Wang Chao said talks with Cameron will cover trade, investment, energy and cultural exchanges.

Ma Zhengang, former Chinese ambassador to the UK, said the visit is an indication that Sino-British relations are getting back on track after signs of recovery in ties last December when Cameron visited Beijing.

Bilateral relations nosedived in 2012 when Cameron met the Dalai Lama, prompting China to cancel scheduled meetings with the UK.

Tian Dewen, a researcher of European studies at the Chinese Academy of Social Sciences, said he expects the visit will focus on economic cooperation.

He identified the high-speed railway and nuclear power industries as two fields with high potential for cooperation.

Ma said the UK's relatively aging infrastructure presents great opportunities for Chinese investors and exporters.

Bilateral trade exceeded $70 billion in 2013, a rise of 11 percent year-on-year. That percentage far exceeds the 2.1-percent growth for overall trade between China and Europe.

Zhao Junjie, an expert of European studies at the Chinese Academy of Social Sciences, said China and Greece will likely discuss the port, aviation, tourism and trade industries.

He said China's advantages in the shipbuilding industry dovetail with Greece's need to revive its traditional strength in sea transportation.

Li and his Greek counterpart Antonis Samaras are expected to visit Piraeus port near Athens, part of which is operated by China's State-owned shipping giant China Ocean Shipping (Group) Co under a 35-year lease signed in 2009.

It was the first time that a Chinese firm had been granted operating rights to an overseas port.

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