UK-China Economic and Financial Dialogue

Callum Anderson Excerpts

Tuesday 14th January 2025 Commons Chamber

[Rachel Reeves]

This is not either/or; we cannot write off one country and say that we are going to put all our eggs in a different basket. China is our fourth biggest trading partner and we cannot miss out on opportunities in a country that is growing quickly, with an expanding middle class, where there are huge export opportunities. As the hon. Lady knows, I was in Brussels in December to reset our relations—the first British Chancellor to go to a Eurogroup meeting since we left the European Union. I am leaving no stone unturned in exploiting export opportunities for British businesses.

[Callum Anderson (Buckingham and Bletchley) (Lab)]

I thank the Chancellor for her statement. Can she set out in more detail how the Government intend to help reinvigorate the UK-China stock connect, so that UK companies and investors can access Chinese capital markets and vice versa?

[Rachel Reeves]

The stock connect is an initiative first set up by the former Conservative Chancellor Philip Hammond to improve links between the Shanghai and London stock exchanges and to help Chinese businesses to access capital on UK financial markets. That is good for financial services firms operating in London, and the enhancement of that stock connect scheme at the weekend offers new opportunities for British businesses in financial services in the UK.