Chinese Premier Li Keqiang (C) holds an annual meeting with British Prime Minister David Cameron in London, Britain, June 17, 2014. (Xinhua/Pang Xinglei) >> More
Visiting Chinese Premier Li Keqiang proposed Tuesday that China and Britain expand two-way trade to reach a target of 100 billion U.S. dollars in 2015.
Li, at an annual meeting with his British counterpart, David Cameron, also called on China and Britain to boost cooperation in such areas as nuclear power, high-speed railway, infrastructure construction and urbanization.
This year marks the 10th anniversary of the establishment of the China-Britain comprehensive strategic partnership. The two premiers agreed to seize the unique opportunity to lift bilateral relations to a new level.
Li said China and Britain should constantly consolidate the political foundation of bilateral relations, promote common growth and inclusive development, so as to speed up the development of China-Britain ties.
He said the two countries need to advance financial cooperation, facilitating direct trading of their local currencies, setting up RMB clearing bank and opening branches of Chinese banks in Britain. >> More
The Chinese premier also urged the two countries to strengthen cooperation in such areas as scientific innovation, green economy, medicine and aviation.
Li applauded measures adopted by Britain to simplify visa application procedure for Chinese visitors. >> More
Cameron, for his part, said bilateral cooperation has borne rich fruits since the two countries forged a strategic partnership a decade ago.
He said Britain attaches great importance to its relationship with China and is willing to have sincere dialogues with China and deepen cooperation in the fields of economy and trade, finance, education, science, nuclear power and high-speed railway.
The British prime minister added that Britain welcomes more Chinese companies to invest in Britain and more Chinese students to study here.
On global and regional affairs, Li noted that both China and Britain are firm guards of world peace and regional stability, calling on the two countries to strengthen communication and cooperation in international and regional affairs.
Cameron said China and Britain are indispensable partners in dealing with international issues.
Britain pursues a policy of open and free trade and investment, and is ready to promote the negotiations on the Europe-China investment agreement, and the construction of the Europe-China free trade zone.
Li and Cameron witnessed the signing of a series of bilateral cooperation documents after their meeting.
The Chinese premier arrived here on Monday for an official visit. Britain is the first leg of his two-nation trip to Europe, which will also take him to Greece.
Rail, nuclear tech tighten links
Premier Li Keqiang, acting as a super salesman for Chinese products, promoted the nation's high-speed rail and nuclear power technologies to Britain on Tuesday, with a series of landmark deals signed.
Twenty-six agreements worth $25 billion were signed on the second day of Li's three-day visit to Britain, his first to the country since taking office last year. >> More
The premier met Queen Elizabeth II in the morning before being hosted by British Prime Minister David Cameron at 10 Downing Street after a grand welcoming ceremony. >> More
Li and Cameron oversaw the signing of deals ranging from energy, finance and infrastructure to climate change.
Under a framework agreement, Britain welcomes Chinese firms taking part in its planned high-speed HS2 rail network, a 42 billion pound ($71.2 billion) project, with the first 192-km stage linking London and Birmingham.
The two sides will attempt to reach consensus on high-speed rail standards, key technologies and equipment.
It will be a milestone for Chinese high-speed rail companies to export technology to Britain, which built the world's first railway in 1825.
Zhao Jian, a professor of transportation economics at Beijing Jiaotong University, said: "China has mature technologies and an excellent record of building railways. It has built thousands of kilometers of rail lines under various climatic conditions."
China boasts the world's longest high-speed rail network, of more than 11,208 km.
Zhao said Tuesday's framework agreement is the initial stage of a much larger cooperation plan, adding, "China may participate in more projects across Europe, especially in the eastern part of the continent."
A high-speed rail line planned in Romania using Chinese technology and financing is being discussed within the European Union, according to China Securities Journal.
Britain also welcomes Chinese investment in the Hink-ley Point project, the UK's first nuclear power station for two decades.
Under an agreement, Chinese companies are welcome to take a lead in developing other British nuclear power plants and establishing Chinese nuclear reactors in the UK. >>>More
Last year, Cameron welcomed Chinese investment in Britain's infrastructure sector when he led what was reportedly the biggest trade delegation to visit China.
In return, about 200 Chinese business leaders are accompanying Li on his visit to the UK.
On Tuesday, Li called on the two nations to realize a $100 billion annual trade target by the end of 2015, up from $70 billion achieved in 2013.
Britain is China's second-largest trading partner in the European Union and its second-largest source of foreign investment.
British companies landed deals worth more than $25 billion with China.
Oil giant BP signed an agreement worth $18 billion to provide China National Offshore Oil Corp with liquefied natural gas for 20 years, starting in 2018. >> More
Robert Wine, press officer for BP Group, said the company has a relationship with key Chinese energy companies dating to the 1970s. BP is one of the biggest foreign investors in China's energy sector and intends to continue this relationship, he said.
Royal Dutch Shell announced a global alliance with CNOOC on Tuesday to bolster an already strong relationship. It includes three production-sharing contracts in the Yinggehai Basin in the South China Sea.
The energy deal will help boost China's efforts to reduce reliance on coal and to improve air quality.
