Post-Brexit Sino-UK relationship could deepen, says report

The general direction of Sino-UK relations after Britain leaves the European Union will not change and continuity remains the focus, according to a new report.

The Report on Development of the United Kingdom (2016-2017), which was co-authored by the British Studies Center at Beijing Foreign Studies University and the European Studies Branch of the China Association for European Studies, was released on the weekend.

It tracks the UK's domestic and foreign affairs, and its economic and social development and analyzes new problems and uncertainties. The document also looks at other issues, such as the overall development of Sino-UK relations.

It said relations between China and the UK post-Brexit will be dominated by continuity and that the ties may deepen.

It noted that the nations are increasingly willing to carry out financial cooperation and predicted the UK will actively seek more opportunities, in order to give full play to its competitive financial industry, especially when Brexit affords the UK greater freedom.

At the same time, as the capacity and openness of China's financial market continues to improve, it will inevitably become the UK's top choice for strategic cooperation, the report said.

It suggested the nations will deepen their cooperation under the Belt and Road Initiative, and make full use of multilateral platforms, including the Asian Infrastructure Investment Bank and the Silk Road Fund, and explore the establishment of funds supporting cooperation in industrial technology and infrastructure.

“We can see that the enthusiasm of the UK in participating in the Belt and Road Initiative keeps rising,” said Du Qiwen, from the Foreign Ministry. “The UK pays more attention to cooperation with China in various fields.”

He said cooperation around innovation and development, and in cultural and people-to-people exchanges is worthy of attention.

The report said Brexit will have a significant impact on the international status, diplomatic thinking, and policies of the UK and that the British government's concept of “global Britain” proposed a month after the referendum has strong internal and diplomatic connotations.

“The UK will embrace globalization after Brexit,” said Feng Zhongping, vice-president of China Institutes of Contemporary International Relations. “It will be more firmly involved in the process of globalization.”

The report also analyzed the UK's likely overall economic situation post-Brexit, and the development of the UK's film and media industry as well as its higher-education sector.