Finance: the Top Priority
China and the United Kingdom are poised to enhance cooperation in financial sectors, said Vice Premier Wang Qishan and the UK Chancellor of the Exchequer Alistair Darling at the first China-UK Economic and Financial Dialogue in Beijing.
Concluding his meeting with Wang, Darling said that the UK welcomes the creation of the Chinese sovereign wealth fund and its potential for investing in Britain. “Both countries recognize the importance of actually participating in the current discussions taking place in the international institutions on the issues between sovereign wealth funds and recipient countries to achieve better cooperation on a mutually open basis,” he said.
Wang, on the part of China, said the country also welcomes investments from UK financial institutions and particularly encourages them to explore potential markets in central and western China. Furthermore, he pointed out that confronted with the current international situation triggered by the US subprime mortgage crises, the two sides should also strengthen cooperation between financial regulatory institutions.
The two sides have already begun discussing “financing for sustainable development” as a potential theme for the next 3-year program of the China-UK sustainable development dialogue.
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