China,UK issue joint statement
The document, issued after the annual meeting between visiting Premier Li Keqiang and his British counterpart David Cameron, said that the China-Britain comprehensive strategic partnership has become an indispensable element of each other's foreign policy agendas.
China and Britain stand ready to expand economic and trade cooperation and promote development in each other's markets. They renewed their commitment to the joint target of $100 billion by 2015.
The two countries stressed the importance of mutual investment in promoting respective long-term economic growth and employment. Britain welcomed Chinese investment in infrastructure such as transportation and energy, particularly nuclear, high-speed rail, offshore wind power and photovoltaic projects.
According to the document, both sides attach high importance to deepening the China-European Union (EU) strategic partnership. They support negotiations for an EU-China investment agreement to lift pragmatic cooperation to a new level, and reaffirm their commitment to the long-term goal of an ambitious and comprehensive EU China free trade agreement.
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.
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 Hinkley Point project, the UK's first nuclear power station in 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.
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.
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.
Zhao Yinan in Beijing contributed to this story.
Contact the writers at xingzhigang@chinadaily.com.cn and zhangchunyan@chinadaily.com.cn.
