Second, China and the UK should work together to promote steady and sustained development of the China-UK "Golden Era".
China has always approached and developed China-UK relations from a strategic and long-term perspective. China hopes to deepen cooperation with the UK in the political, economic, cultural areas and in global governance, in order to achieve common development.
At the beginning of this year, Prime Minister May paid a successful visit to China. During the visit, the leaders of our two countries agreed to build a more strategic, practical, global and inclusive China-UK "Golden Era"; The two sides signed business contracts worth £9 billion.
In the future, China and the UK can further match the development strategies and deepen cooperation both at the bilateral and international level. Together we can set an example of win-win cooperation and common development between China and Western countries.
My third suggestion is to tap the potential in the economic and financial sectors and create more highlights in China-UK cooperation.
There is a strong complementarity between China and the UK in economy and trade. Therefore, China's further opening-up will create more opportunities for our two countries to build closer partnership in economy, trade, infrastructure development, equipment manufacturing and FinTech.
Last month, China announced further opening-up measures in the financial sector, which were summarised as "6+5+1".
Six measures will be implemented in the next few months. These include:
1. Remove the foreign ownership cap for banks and asset management companies, treating domestic and foreign capital equally; allow foreign banks to set up branches and subsidiaries at the same time,
2. Lift the foreign ownership cap to 51% for securities companies, fund managers, futures companies, and life insurers, and remove the cap in three years,
3. No longer require joint-funded securities companies to have at least one local securities company as a shareholder,
4. To further improve the stock market connectivity of the Chinese mainland and Hong Kong, we will increase the daily quota by three times from May 1, after which the daily quota for Shanghai-bound and Shenzhen-bound investment will be increased from RMB 13 billion to RMB 52 billion, while that for Hong Kong-bound investment from RMB 10.5 billion to RMB 42 billion,
5. Allow eligible foreign investors to provide insurance agent and loss adjuster services in China, and
6. Lift restrictions on the business scope of foreign-invested insurance brokerage companies, treating them as equals of domestic companies.