China,UK to Enhance High-tech, Economic Ties

China and Britain have agreed to enhance cooperation in areas including high-speed railway, nuclear power and finance, Chinese Premier Li Keqiang said on Monday.

Li told a joint press briefing with visiting British Prime Minister David Cameron that both sides agreed to promote each other's companies to seek breakthroughs in high-speed railway and nuclear power cooperation.

China is willing to have joint shares and even hold shares in British nuclear power projects, Li said, adding that Britain is open to that.

Bilateral cooperation in this area will also promote the opening of the third-party market and current and long-term employment, according to the premier.

Concerning the financial sector, the two sides discussed conducting offshore RMB business in London and Chinese banks' opening of branches in Britain.

They agreed to expand bilateral high-tech trade and support cooperation in aerospace, offshore wind power and other new energy development, Li said.

He added that Britain has agreed to take measures as soon as possible to increase high-tech exports to China, while both sides will jointly establish an innovation and research fund of 200 million pounds (US$1.64 million).

More bilateral cooperation in traditional and new media is also on the cards to promote mutual understanding, according to Li.

On people-to-people exchanges, Britain will simplify visa procedures for Chinese tourists and business travelers and increase the frequency of flights, the premier was told.

Britain is willing to streamline processes for Chinese citizens to carry out business activities and tourism in Britain, hoping that this will bring more job opportunities to the country, Cameron said.

Invited by Li, Cameron arrived in Beijing on Monday morning for a three-day official visit to China.