China and the UK agreed to carry out a feasibility study on whether to pursue a bilateral services deal. Credit: Andrew Linscott/Shutterstock.com.
The UK Prime Minister Keir Starmer and China President Xi Jinping have agreed to a services partnership aimed at stabilising relations and expanding trade in services, including visa-free entry to China for British tourists and business travellers staying for fewer than 30 days.
The partnership is designed to set clearer rules, improve market access and support UK firms seeking to sell into China, covering financial and professional services, healthcare, legal services, and education and skills.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
China and the UK also agreed to carry out a feasibility study on whether to pursue a bilateral services deal, which the UK government said could lead to legally binding rules for British companies operating in China.
The UK government said the visa change removes the requirement for citizens to obtain a visa for trips of under 30 days and brings the UK in line with 50 other countries, including Germany, France, Italy, Japan and Australia.
It said the change applies to business travel as well as tourism.
UK Business and Trade Secretary Peter Kyle said: “There are huge growth opportunities for services, currently underweighted in our exports to China, from the legal and financial sectors to health and education.
“That’s why we are excited to be joined on this visit by top UK enterprises, as well as fast emerging ones and leading figures from across our cultural and service sectors, to reinforce cooperation, showcase our strengths, and build new business opportunities for Britain.”
The government said the UK ranks as the world’s second-largest services exporter and pointed to forecasts that Chinese imports will increase between 2023 and 2035, including growth of 121% in professional and business services, 71% in financial services and 78% in digital services.
It said the measures aim to support UK companies selling services to China, which it put at £13bn ($17.9bn) a year, and to help firms find partners and navigate the market.
The UK and China also agreed to expand co-operation in areas including education, sports and health through agreements signed in Beijing.
Sign up for our weekly news round-up!
Give your business an edge with our leading industry insights.