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China's 13th five-year plan offers new chances for cooperation with Britain: ambassador

Xinhua, December 16, 2015 Adjust font size:

China's 13th Five-Year Plan for 2016-2020 lays out a new "blueprint" for the country and also offers new opportunities for China-Britain cooperation in at least six areas, Chinese Ambassador to Britain Liu Xiaoming said on Tuesday.

The six areas are trade and investment, finance, innovation, regional integration and urbanization, green economy, public service and social security, Liu said at the launching ceremony of China Chamber of Commerce in the UK (United Kingdom).

According to the proposed 13th Five-Year Plan, Liu said, the Chinese market would be more open, quality products and services from Britain will be more popular in China. Meanwhile, more Chinese companies will invest and set up businesses in Britain.

In finance, Liu said the two countries can increase the scale of currency swaps and further consolidate the role of London as an offshore trading center of China's currency, the RMB or yuan.

China and Britain can also continue the feasibility study for a stock exchange connection scheme between Shanghai and London.

"The plan clearly lists innovation as the number one driving force for growth. China will encourage entrepreneurship and innovation, including scientific, cultural and business innovation," said Liu.

"Britain is known for its people's outstanding spirit of innovation. China and Britain can build a strong partnership for innovation," he added.

In the coming years, China will experience rapid regional integration and urbanization. The 13th Five-Year Plan contains proposals for building metropolitan hubs, including the Beijing-Tianjin-Hebei coordinated development area and the Yangtze River economic belt.

"Britain was one of the first countries to begin urban planning studies. In the field of urban planning, China has a lot to learn from Britain's comprehensive legal framework and success stories," Liu said.

China and Britain can also find new cooperation opportunities in green economy, which is one of the priorities in the 13th Five-Year Plan.

"Britain had suffered from pollution and gained experience in pollution control. China can learn about sustainable development and green economy," he said.

Liu added that public service and social security will become a new area of cooperation between China and Britain and will contribute to their respective growth.

"We are now in a new era. China has started its economic upgrading. China's policies on the Belt and Road Initiative draw our ties even closer," Liu said. Endi