Thank you very much Vice¹ Premier² Wang Qishan. And let me thank you again for welcoming us to Beijing today to this Economic and Financial Dialogue.

非常感谢王岐山副总理。对于您今天欢迎我们到北京来参加本次经济财金对话，我再一次表示感谢。

I agree with you that we have had very friendly and successful talks, covering a whole range of issues of relevance³ to both our countries.

我和您都认为：我们的会谈是非常友好而有成效的, 涉及了一系列有关我们两国的事务。

China is now the world’s second largest economy. Its contribution to prosperity in the UK is becoming increasingly important. That is why we have come to China as the strongest ministerial delegation⁴ ever to visit from the UK. We look forward to this afternoon, when the Prime Minister David Cameron and Premier Wen will take part in the UK-China summit.

中国现在是世界上第二大经济体。它对于英国经济繁荣的贡献日益重要。这也是我们此次作为英国有史以来最强大的部长级代表团到中国访问的原因。我们期待着今天下午首相戴维•卡梅伦和温家宝总理参加的英-中峰会。

Today the Vice Premier and I talked about the economic relationship between our two countries. We both agreed to further strengthen bilateral⁵ cooperation. We both agreed to continue implementing⁶ economic policies conducive⁷ to sustainable economic growth. The UK has committed to a clear, credible⁸, ambitious and growth-friendly medium-term fiscal⁹ consolidation¹⁰ plan which will ensure fiscal sustainability. And as the Vice Premier has said China is committed to accelerate the restructuring to further strengthen the role of domestic demand. This action by both sides will support confidence and mitigate¹¹ risks to recovery.

今天副总理和我探讨了我们两国间的经济关系。双方一致同意进一步加强双边合作。双方一致同意继续实施有利于经济可持续发展的经济政策。英国 已承诺要实施明确的、可靠的、雄心勃勃的、有益于发展的中期财政整顿计划，以确保财政的可持续性。副总理也谈到，中国要致力于加快经济结构调整，进一步加 强内需对经济增长的作用。双方的这一举措将有助于提振市场信心、减少经济复苏风险。

We also agreed to work together through the G20. We both strongly support the G20 as the premier forum¹² for our international economic cooperation, where the world’s largest economies work together to support their mutual¹³ aspirations¹⁴ and ambitions. We both welcomed the ambitious agreement reached by G20 Finance Ministers & Central Bank Governor at Gyeongju, Korea, to reform the IMF’s quota¹⁵ and governance that will help deliver a more effective, credible and legitimate¹⁶ IMF. At Gyeongju we also agreed to strengthen multilateral cooperation to promote external sustainability and the full range of policies conducive to reducing excessive imbalances and maintaining current account imbalances at sustainable levels. We need to move further forward in Seoul this week. I hope that China will seize the opportunity to play a leading role on this.

双方赞同在G20峰会上共同努力。双方坚定支持G20，这是各国实现国际经济合作的重要论坛，其间，全球最大的经济体为实现他们共同的愿望 和前景而协同努力。双方欢迎在韩国庆州G20财长和央行行长会议上就国际货币基金组织份额和治理改革达成的重要共识，这将有助于提高国际货币基金组织的有 效性、可信度和合法性。在庆州，我们也赞同加强多边合作，推动外部发展的可持续性以及实施一系列有益于减少过度失衡和在可持续的水平上保持经常账户失衡的 政策。我们希望在本周的首尔峰会上能够取得更多进展。我希望中国抓住机会，发挥领导作用。

We also discussed the trade links between our countries. It is worth remembering that China is the world’s largest exporter of goods and the UK is the world’s second largest exporter of services. This complementary in our relationship will provide a strong foundation to strengthen our trade and investment links. Both sides will uphold the principles of free trade and resist all forms of protectionism. We will work together to achieve Doha – the UK sees 2011 as a key window of opportunity for achieving this, and I hope China will take a leading role in driving this agenda forward at the G20 Summit in Seoul.

双方探讨了两国间的贸易关系。值得一提的是，中国是世界上最大的商品出口国，而英国是世界上第二大服务出口国。两国在这方面的互补将为加强 我们的贸易和投资关系提供强有力的基础。双方都赞成自由贸易的原则，抵制各种形式的贸易保护主义。双方将协同努力推动多哈回合成果。英国认为2011年是 实现这一目标的关键机会，我希望中国在首尔召开的G20峰会上可以发挥领先作用，推动此项议程的开展。

We also discussed how to encourage Chinese investment in the UK and how to enable Chinese companies to do business in the UK. The UK is already one of the most open economies in the world to trade and inward investment and welcomes more Chinese investment, including from sovereign wealth funds. We noted¹⁷ that UK firms are doing well in China’s growing market. For example, UK firms play a key role in China’s financial markets. UK banks account for 23 per cent of the foreign banking¹⁸ market. Our insurers are among the leading foreign players.

双方探讨了如何鼓励中国在英国投资、如何促使中国企业在英国开展业务。英国作为世界上贸易和投资最开放的经济体之一，欢迎更多来自中国的投 资，包括主权财富基金的投资。我们注意到，英国企业在中国日益发展的市场上表现出色。例如，英国企业在中国金融市场上发挥着关键作用。英国银行占外国银行 市场的23%。英国的保险公司也处于领先的外国企业行列。

And we agreed that it is not just bilateral trade that matters. The UK and China can work in partnership¹⁹ elsewhere, and we discussed how we can support greater partnerships²⁰ between UK and Chinese companies in third countries. We discussed the business environment in both our countries. There are lots of opportunities in China’s growing market and I highlighted some areas where British companies believe China’s business environment could be improved. We also noted the challenges in the business environment and will work to address this. I encouraged China to respond constructively²¹ to the views of the business community. We noted the importance of effective protection of intellectual property rights to promote innovation and encourage bilateral trade, especially in high-technology goods and services. We agreed ambitious plans for deepened technical collaboration²² on intellectual property administration and enforcement. We also agreed to establish a working-level dialogue on tax issues for businesses engaged in bilateral trade and investment.

双方同意，发挥重要作用的不仅仅是双边贸易。英、中两国可以在其他领域合作，双方探讨了如何在第三国进一步发展英、中两国企业间的合作。双 方探讨了两国的商业发展环境。在中国日益发展的市场上有大量的机会，我曾强调了在一些领域英国企业相信中国的商业环境会进一步完善。双方也注意到商业环境 中面临的挑战，将共同努力解决这些问题。我希望中国对于这些来自商界的意见可以有建设性地应对。双方认识到有效保护知识产权对促进创新和鼓励双边贸易的重 要性，特别是在高科技产品和服务领域。双方同意启动雄心勃勃的计划，在知识产权管理和实施方面深化技术合作。双方同意，建立企业双边贸易和投资的税收问题 的工作层面的对话机制。

We discussed the economic outlook for our countries. I outlined the decisive steps we have had to take to deal with Britain’s deficit²³. And I assured the Vice Premier that Britain’s economic and financial strengths will be further enhanced. Our business sector²⁴ remains²⁵ top-class with world-beating research, innovation and enterprise. London is the world’s largest and leading international financial centre and I was pleased that we have agreed to strengthen our financial sector collaboration. We both agreed that further deepening of financial services ties between the UK and China will benefit both sides. We reiterated²⁶ our commitment to work together to drive forward the reform of international financial regulation and supervisory standards, and strengthen transparency and accountability in the financial sector.

双方探讨了两国的经济发展前景。我概述了我们所采取的解决英国赤字问题的决定性措施。并且我可以和副总理确定的是英国的经济和金融实力将进 一步增强。我们的商业依然是一流的，拥有世界上最强大的研究、创新能力以及企业。伦敦是世界上最大的国际金融中心，发挥着引领的作用。我很高兴我们能够一 致同意加强金融领域的协作。双方一致认为，进一步加深英国和中国之间的金融服务关系对双方都是有利的。我们重申致力于合作推动国际金融监管标准的改革，加 强金融领域的透明度和问责制。

We are announcing an expansion of our unrivalled programme of bilateral technical collaboration and joint²⁷ research on financial sector reform and development. This includes development of the offshore²⁸ renminbi market, SME financing, corporate²⁹ and government bond market development. We welcome the fact that China will soon allow foreign-invested banks to conduct bond underwriting business. We agree to explore the possibility of cross-cutting Exchange Trade Funds on our respective stock markets. We both reiterated our support for mutual listings arrangements that will allow Chinese companies to list in London and foreign firms to list in China

我们宣布，进一步拓展现有成果，继续致力于双边技术合作以及金融领域改革与发展方面的共同研究。包括离岸人民币市场、中小企业融资、公司和 政府债券市场的发展。我们期待着中国将尽快允许外资银行开展债券承销业务。我们同意探索研究交易型开放式指数基金（ETF）在对方国家相互上市的可能性。 双方重申了对两国企业相互上市的支持，即允许中国企业在伦敦上市以及外国企业在中国上市。

It also gives me great pleasure to announce a deepening of our financial services ties through several commercial deals. The first securities joint venture in China for a British bank, Royal Bank of Scotland, whose Chairman is part of the UK delegation accompanying David Cameron and I. The bancassurance partnership between Hengan Standard Life and Bank of China, subject to the finalisation of commercial negotiations³⁰. And the granting to Aberdeen Asset Management of their funding quota for investment in Chinese markets.

同时我非常高兴地宣布，以下几项商业协议的达成，进一步深化了两国金融服务的联系。苏格兰皇家银行，获批在中国成立了合资证券公司，这的第一家获此资格的英国银行，其主席也是此次随行代表团的成员。恒安标准人寿和中国银行之间建立银保合作伙伴关系（目前尚处于谈判阶段）。

So, Vice-Premier, let me conclude. Successful talks, between ever closer economic partners. Once again, thank you for hosting us. And I look forward to the 2011 dialogue in the United Kingdom.

副总理，我确信，这是日益密切的经济合作伙伴之间的成功的会谈。再一次对您给予的款待表示感谢。

我期待着2011年在英国的对话。