中英经济财金对话达成72项成果:适时启动沪伦通安排

原标题：第九次中英经济财金对话政策成果

来源：财政部 国际经济关系司

中国国务院副总理马凯和英国财政大臣菲利普·哈蒙德于2017年12月16日在北京共同主持了第九次中英经济财金对话。双方欢迎中英建立大使级外交关系45周年，重申推动构建中英面向21世纪全球全面战略伙伴关系，深化战略经济合作，促进双边贸易投资，深化中英金融合作关系。第九次对话成果涵盖范围广泛，双方在宏观经济政策、贸易、投资、金融、产业战略、“一带一路”和第三方市场等领域合作取得积极进展。双方就深化经济财金合作、为中英关系“黄金时代”注入新动力达成一系列新共识：

一、宏观经济形势和政策

1.当前全球经济继续复苏，但增速低于危机前水平，仍面临诸多不稳定不确定因素。中英双方将继续密切合作，并与其他各方一道，加强宏观经济政策协调，完善全球经济治理，推动实现全球经济强劲、可持续、平衡和包容增长的共同目标。

2.英方赞赏中国共产党第十九次全国代表大会成功举行，欢迎十九大报告聚焦于提高经济增长质量，期待与中方加强具体合作，以实现共同经济利益。英方欢迎并支持中国经济转型升级取得的成效及所做的不懈努力，特别是为确保中国经济更具可持续的中期基础所做的努力。中方承诺继续深化供给侧结构性改革，包括逐步淘汰过剩产能和降低杠杆率，努力发展具有更高质量、更高效率、更强动力的现代化经济，推动经济持续健康发展。英方期待中方采取进一步措施，使市场在资源有效配置中更多发挥决定性作用，确保在中国注册的外国公司受到平等对待。

3.双方同意深化专业分享与合作，建立新的联合专家小组，就宏观经济和财政政策等议题开展沟通交流。

4.双方共同致力于应对全球经济面临的重大挑战。双方重申对以规则为基础的国际经济体系及作为这一体系支柱的国际经济组织的承诺。双方承诺继续通过二十国集团（G20）这一国际经济合作主要论坛开展密切合作。双方致力于落实G20杭州峰会和汉堡峰会成果，构建开放型世界经济，支持多边贸易体制，推动结构改革、数字经济、可持续发展、国际金融体系改革、基础设施投资、反腐败等领域国际合作，以实现全球经济为所有人服务的目标。

5.双方承诺推动落实《二十国集团落实2030年可持续发展议程行动计划》。双方同意通过定期交流等形式就落实可持续发展议程加强协调合作，支持联合国在国际发展合作中发挥重要作用，并承诺在各自能力范围内，为发展中国家落实可持续发展议程提供支持和帮助。

6.中英双方致力于采取持续行动，并通过各自行动和双边合作保持应对气候变化的全球政治推动力。双方强调其对于根据包括公平、共同但有区别的责任和各自能力原则，考虑不同国情，全面、有效和及时履行《联合国气候变化框架公约》及其《京都议定书》和《巴黎协定》的最高政治承诺。双方重申对于在2018年完成关于落实《巴黎协定》工作方案的承诺，并将平衡推进工作方案所有要素。双方强调2020年前的实施和力度非常重要，以及加大2020年前的力度可为加大2020年后的力度奠定坚实基础。

中英双方决定进一步推进政策和措施，以有效实施各自国家自主贡献。加速行动将为所有国家提供经济转型、增强竞争力和实现清洁能源更广泛社会经济效益的重要机会。

中英双方致力于打造其在气候变化议程方面的重要双边合作，包括绿色金融、排放权交易、碳捕集利用和封存，以及低碳能源转型。双方认同极端天气事件频率和剧烈程度的增加，以及危险的气候变化给人类生命和生存带来的风险，决定合作建设适应力，增进对相关风险的理解，并打造更强行动范例。

7.双方同意在多边税收领域紧密合作，打击跨国逃避税、防止税基侵蚀和利润转移。双方继续支持执行G20关于促进国际税收透明度的标准，包括自动情报交换。双方将继续为研究制定经济数字化的税收规则贡献力量，共同创造公平透明的国际税收环境。

8.双方支持世界银行集团（以下简称“世行”）按照既定原则完成实施2015年股权审议。双方欢迎世行前景展望，期待在所有领域取得进一步进展，包括更好地服务所有客户群体，并将国际复兴开发银行的资源优先投向世界上最需要资金和获得市场资本机会最小的地区。

9.双方支持强劲、以份额为基础、资源充足的国际货币基金组织（IMF）在全球金融安全网中发挥中心作用，支持IMF推动份额改革、研究更广泛使用SDR的可能性等完善国际货币体系的努力。双方期待在2019年春会前完成第十五次份额总检查，最晚不晚于2019年年会。双方重申，份额分配应提高有活力经济体的份额占比，以反映其在世界经济中的相对地位，因此可能的结果是新兴市场和发展中国家的份额占比整体提高。

10.双方欢迎亚洲基础设施投资银行（以下简称“亚投行”）2017年取得的重要进展，包括贷款业务的增长以及在全球范围吸收更多新成员。双方将继续加强在亚投行框架下的全方位合作和伙伴关系，为此，英方高兴地宣布已与亚投行签署“捐款协议”，正式承诺向亚投行“项目准备特别基金”捐款5000万美元，与中方承诺金额相同。英方将与中方以及亚投行一道，确保特别基金高效运作，促进亚投行业务迅速覆盖低收入国家。双方将与其他成员一道，立足亚投行战略重点，充分借鉴现有多边开发银行的良好做法和经验，打造亚投行自身优势和特色，支持治理结构和业务创新，不断提升机构能力，共同将亚投行打造成21世纪新型多边开发银行。双方重申对亚投行共同愿景的承诺，期待亚投行2018年继续扩大业务规模，提升国际影响力。

11.双方支持巴黎俱乐部作为官方双边债务重组的主要国际论坛继续吸纳更多新兴债权国参加。中方将继续常态性参加巴黎俱乐部会议，包括进一步探讨潜在的成员身份。

12.双方同意利用英国新多年期繁荣基金中国项目提供的机遇，支持经济可持续发展和共同繁荣，鼓励该基金助力深化双边合作、贸易和投资。

二、贸易和投资

13.双方认识到开放型世界经济以及反对贸易和投资保护主义将带来巨大利益。双方重申支持以世贸组织为核心、以规则为基础、透明、开放、包容和非歧视的多边贸易体制。双方愿共同努力，坚定维护世贸组织核心价值和基本原则：

（1）支持英国顺利过渡，按照自身减让计划转型为完全独立的WTO成员，确保对中英贸易关系的影响降到最低。

（2）双方认识到加入政府采购协定（GPA）将给成员带来互利。中方欢迎英国脱欧后继续保留GPA成员身份的意愿，英方欢迎中国适时加入GPA的意愿。

（3）双方重申解决全球钢铁行业产能过剩问题的重要性，欢迎全球钢铁产能过剩论坛于2017年11月30日形成的一份包含具体政策措施的实质性报告。双方承诺继续参与全球钢铁产能过剩论坛，致力于解决导致产能过剩的深层次问题。

（4）双方认可在中英标准化合作委员会框架下工作取得的进展，同意在目前的合作项目基础上，在新的创新性领域拓展进一步合作机会。

14.双方同意强化贸易和投资伙伴关系，增加双向贸易和投资，创造就业和增长，推动经济发展惠及全体人民。双方承诺改善市场准入，为双方企业提供平等待遇和透明营商环境。2018年起，中国将举办中国国际进口博览会，中方欢迎英国企业来华参展参会，双方可借此机会进一步开拓新的贸易增长点。

15.英国将致力于平稳有序地过渡到与欧盟建立新型关系，并加强与包括中国在内的主要合作伙伴的双边关系。英国经济强劲的基本面确保了经济中期增长，加上良好的贸易投资环境，这将继续向合作伙伴和投资者提供确定性。中方希望英国同欧盟关系实现平稳过渡，期待看到繁荣、稳定、开放的英国和欧洲。

16.英方欢迎中方在服务业等领域放宽市场准入的努力，并欢迎中方承诺提供平等待遇和保持开放。中方注意到英方发布脱欧立场文件和贸易关税白皮书。双方同意加强贸易和投资政策合作。双方将：

（1）通过中英经贸联委会（JETCO）加强双边贸易关系合作，包括正在进行的关于市场准入和商业环境政策的讨论、在中英经济财金对话层面的高层讨论以及在其他高层对话中的政策讨论。

（2）欢迎在JETCO框架下的贸易工作组会议（12月15日）讨论未来贸易关系，在符合双方对欧关系基础上，就深化双方合作的机遇和领域等开展联合研究。

17.双方同意加强中国服务业开放的相关合作：

（1）就中国服务业继续开放，以及在《服务业创新发展大纲（2017-2025）》等框架下就中国服务业发展交换意见；

（2）通过即将在JETCO下召开的服务贸易工作组等其他论坛，深化就此问题的讨论。

18.双方承诺开展两用物品出口管制双边对话，以更好便利和鼓励双边高技术贸易。

19. 在平等互利原则下，双方财政部将通过组织互访和培训、开展知识与经验分享、推动项目合作与中英两国企业间的务实合作等方式，继续深化双方政府和社会资本合作（PPP）。双方欢迎奥雅娜工程顾问公司（ARUP）与武汉市、成都市共同在中国开发满足融资条件的基础设施项目，吸引国际投资和专业力量参与项目实施。

20. 双方认识到为消费者提供高质量、安全食品的重要性。双方理解英方高度重视其向中国出口牛肉的问题。双方认可目前已取得的进展，同意就此问题在技术层面保持沟通。中方将按既定路线图于2018年春季派遣专家赴英开展现场评估。

21.双方认识到数字经济对全球贸易的重要性，双方同意：

（1）通过中英互联网圆桌会等方式加强关于数字经济及相关规则的部长级对话。

（2）双方强调公开、透明地制定网络安全相关政策和标准的重要性，并将在网络安全人才培养、宣传和教育领域加强合作与交流。

（3）认识到数字经济尤其是电子商务是促进更广泛包容性经济增长的重要动力，双方同意通过制定现代且有雄心的数字条款，确保数字经济在全球贸易框架中得以有效体现。

22.认识到中英两国作为跨国投资目的地的吸引力，以及高质量双向投资对促进经济增长和创造就业的重要性，双方同意：

（1）认可投资的经济价值并承诺深化双边投资关系，按照达成一致的原则扩大和深化中英投资伙伴关系，包括：减少和明确投资限制；保护投资者和确保国内外企业公平竞争；保持公开坦诚的对话。

（2）就JETCO下中英双边投资工作组合作条款达成一致，明确最有利于促进双向投资合作的相关机遇。

（3）继续支持推进达成有雄心的中欧投资协定。

（4）双方同意继续遵守《G20全球投资指导原则》，营造良好、开放的投资与营商环境。中方欢迎英方承诺在脱欧后继续实施开放、公平、透明的投资政策，切实保护在英外国投资者的利益。英方欢迎中国承诺实行高水平的贸易和投资自由化便利化政策。

（5）双方同意继续共同推进欣克利角C核电站项目。

23.中华人民共和国海关总署和英国皇家税务与海关署重申致力于执行关于海关事务的合作与行政互助的谅解备忘录，交换包括情报、风险、风险趋势、风险分析指标等信息，以预防、发现、打击、调查违反海关法的行为，并互相反馈成果。双方将：

（1）重申致力于打击烟草制品非法贸易，将通过采取政策措施及有效的国际合作应对非法烟草贸易引发的全球性问题。

（2）计划签署执法合作行动议定书，作为2015年谅解备忘录的附件，促进情报和信息交换，打击涉嫌与海关相关的瞒骗行为。

（3）利用双边执法合作渠道获得并交换涉嫌与海关相关的犯罪证据。

（4）共同为中英企业提供国家税收和海关立法领域的政策指导，为包括电子商务在内的贸易创造合法、合规、透明、便利的环境。

（5）双方将与英国边境部队管理局合作，继续加强执法合作，打击各种形式的走私。双方重申支持安全智能贸易航线试点项目和“经认证的经营者”互认，推进关际合作。

（6）通过人员和经验交流，加强风险布控合作。

三、金融服务

24. 双方认识到中英两国拥有不可比拟的金融伙伴关系，并致力于深化和扩大这一关系。中方认识到，鉴于伦敦的历史、市场深度和全球人才，其将继续保持世界领先的全球金融中心地位，并将继续成为中国金融服务合作的重要伙伴。

双方欢迎两国监管机构继续合作，并欢迎英格兰银行卡尼行长和中国人民银行周小川行长共同主持首次联合研讨会，就中英监管合作、宏观审慎框架、金融稳定、绿色金融等议题开展讨论。

（1）双方继续支持中英金融服务战略规划的实施。中方欢迎并支持英国多年期繁荣基金金融服务项目，支持双方加强在监管改革、市场发展和开放等领域的经验分享。

（2）为落实中国共产党第十九次全国代表大会关于进一步扩大对外开放的相关部署，中方决定将单个或多个外国投资者直接或间接投资证券、基金管理、期货公司的投资比例限制放宽至51%，上述措施实施三年后，投资比例不受限制；将放宽对中资银行和金融资产管理公司外资单一持股不超过20%、合计持股不超过25%的持股比例限制，实施内外一致的银行业股权投资比例规则；三年后将单个或多个外国投资者投资设立经营人身保险业务的保险公司的投资比例放宽至51%，五年后投资比例不受限制。英方欢迎上述承诺，期待有关审批条件和落实时间表的更多细节。

中方认识到英国金融服务企业在上述领域的优势，以及其更多进入中国市场为双方带来的互利。中方欢迎并鼓励英国金融企业尽早利用中国扩大开放带来的机遇，在中国投资和扩大业务。

25.双方同意在相互尊重主权和法律法规前提下，加强两国监管部门间的监管合作与经验分享，包括：

（1）双方银行业监管机构将继续完善定期磋商机制，进一步促进双方在跨境监管方面的密切交流合作。双方将在跨境支付监管合作以及行为监管和消费者权益保护领域深化交流合作，包括行为监管框架与工具、第三方金融纠纷解决机制、金融知识普及与教育、消费者保护绩效评估与评价体系以及与金融科技相关的消费者保护等。

（2）双方同意加强中英反洗钱监管合作与信息交流。中国人民银行与英国金融行为监管局将进一步加强监管合作，积极推动签署双边反洗钱和反恐融资监管合作协议。

（3）双方同意在相互尊重对方主权和国内法律的基础上推进审计监管合作，并在审计工作质量监管方面致力于达成双边信息交换合作协议。

（4）双方同意进一步加强期货和场外衍生品市场监管合作和经验分享，积极推动开展双方衍生品领域业务交流与培训研究，鼓励英方机构投资者参与中国特定品种期货交易。

（5）双方保险业监管机构将进一步加强监管合作、技术交流和经验分享，并就有关技术问题和共同关心的监管事项召开监管联席会议。

（6）双方同意就货币防伪技术加强交流合作。

银行业

26.双方继续支持各自银行在对方国家扩大投资经营，鼓励两国银行通过深化跨境合作持续推动“一带一路”倡议：

（1）双方承诺加强信息分享，以推动中国有关终止净额结算制度的研究，包括中国银监会、中国银行业协会与亚洲证券业和金融市场协会、国际掉期与衍生工具协会共同牵头建立中英净额结算工作组。

（2）英方欢迎中投公司在伦敦设立分支机构的努力，支持伦敦金融城在“一带一路”倡议中发挥积极作用。

（3）双方欢迎英国审慎监管局和金融行为监管局的决定，授予中国农业银行在伦敦开设分行的牌照。双方欢迎中方机构继续提交在英设立分支机构和附属公司的申请，英国审慎监管局、金融行为监管局和中国银监会承诺共同努力确保对所有申请开展高效审查。

（4）英方欢迎中国银行业协会伦敦办公室开业，并承诺与该协会加强合作，进一步深化中英银行业联系。

（5）英方欢迎中方承诺向外国企业开放国内银行卡清算市场，欢迎外商独资或合资的电子支付服务供应商申请银行卡本地清算牌照。

资本市场

27.中方重申支持人民币进一步国际化，继续探索深化双多边资本流动渠道，并利用伦敦市场无可比拟的深度和流动性支持人民币使用以及中国企业在伦敦融资：

（1）中英双方欢迎“沪伦通”相关操作性制度与安排的研究与准备工作取得的进展。双方同意进一步深入研究两地符合条件的上市公司以存托凭证的方式到对方市场挂牌上市，以实现两地市场的互联互通。双方欢迎中英监管机构在“沪伦通”框架下就跨境证券监管执法合作、会计准则与审计监管达成相关合作安排。双方同意加快推进准备工作，适时审视启动“沪伦通”的时间安排。

（2）双方欢迎伦敦证券交易所集团“精英计划”（Elite）和深圳证券交易所“燧石星火”（V-Next）之间签署联盟合作协议，促进英国、欧洲和中国创新型企业的跨境资本形成。双方支持在北京和深圳举行首届商业路演活动，便利英国和欧洲公司与中国投资者群体沟通。

（3）英方欢迎中国债券市场向国际投资者开放并启动“香港—上海债券通”。双方欢迎中国银行间市场交易商协会（NAFMII）、国际资本市场协会（ICMA）和伦敦金融城成立国际工作组，就债券市场开放和发展加强研究与合作。

（4）双方同意就中英债券市场互联安排启动工作组并开展可行性研究，以推动更大规模的债券市场双向投资。

（5）双方同意在金融市场基础设施监管领域加强交流与合作。

（6）双方认可在中国债券市场实现投资者群体多元化的重要性。英方欢迎中方给予汇丰银行在中国银行间债券市场牵头承销熊猫债的资格，并欢迎中方决定进一步给予符合条件的英国银行同类业务资格。

（7）基于伦敦作为全球融资中心的强大实力、在发展创新债务产品方面的悠久历史以及其全球领先的离岸人民币中心地位，双方欢迎中资发行体加强在伦敦发行包括绿色债券在内的全类别金融工具。

（8）中方将继续推进改革，完善合格境内机构投资者（QDII）额度管理制度，包括加强国内监管机构之间的协调。

（9）除国家规定实施准入特别管理措施外，中方同意不对上市公司外资股比进行其他限制，无论是单个境外投资者股比，还是全部境外投资者股比。

28.双方鼓励英国机构投资者积极参与中国银行间市场交易及相关服务。中方将进一步完善合格境外机构投资者（QFII）和人民币合格境外机构投资者（RQFII）制度，鼓励更多英国投资者投资包括债券市场在内的中国资本市场。中方欢迎英国优质企业在中国债券市场发行熊猫债券。

29.双方欢迎NAFMII和ICMA继续在已签署的合作框架文件（MOU）框架下深化相关合作。

资产管理

30.双方认可英国作为全球第二大资产管理中心的地位，中方欢迎英国企业进入并支持中国国内市场发展：

（1）双方欢迎英国金融行为监管局与中国证监会的交流沟通，以增进双方对彼此资管行业和相关监管制度的相互了解，双方同意启动基金互认可行性研究，以深化该领域的合作。

（2）中国证监会欢迎英仕曼集团备案发行私募基金产品，也欢迎元盛资产管理公司、施罗德集团、安本标准投资公司以私募基金管理人身份在中国证券投资基金业协会登记备案。中国证监会欢迎瀚亚资本在上海申请设立外商独资的投资管理公司。

（3）中国证监会欢迎符合《私募投资基金监督管理暂行办法》规定条件的外商独资私募基金管理人申请私募基金业务。双方同意深化监管和商业合作，进一步探索英国私募基金管理公司在中国开展业务的机会。

（4）双方同意加强合作，探索符合条件的外资企业更多地参与境内和跨境托管业务。中方欢迎符合条件的英资银行在华申请托管牌照。中方将审视相关监管规定，适当考虑外资机构境外母公司的资产状况。

（5）两国政府支持另类投资管理协会（AIMA）与中国证券投资基金业协会（AMAC）在2014年签署的合作谅解备忘录（MOU）框架下开展合作，就资本市场和资产管理行业开展教育和研究类项目合作。

保险和养老金

31.双方认识到外国企业参与中国保险市场以促进中国金融普惠及增进中国个人、家庭和企业金融韧性的价值。

（1）双方致力于在本国和全球提升灾害保险水平。中方欢迎英方出台新的保险连结型证券监管框架，英方欢迎中方成立灾害风险管理与巨灾保险研究中心，以及中国国务院开展的灾害保险试点项目。双方承诺共同探讨开展产品研发，并择机就中资机构在伦敦发行巨灾债券以降低风险事进行可行性分析。

（2）保监会同意根据新的市场情况和行业数据，对信用风险因子进行重新评估和校准，并提供机会征求包括在华外资保险公司在内的业界意见，以更加客观地衡量境内外再保险交易对手违约风险的差异。

（3）英方欢迎中国保监会尽早积极考虑恒安标准人寿商业养老保险牌照申请。人力资源和社会保障部将依据中国法律法规对该公司年金牌照市场准入申请予以积极考虑。

（4）中国保监会欢迎英国佰仕富人寿再保险有限公司在上海设立代表处。

（5）双方同意深化健康保险合作，中方鼓励符合条件的专长健康保险业务的英国保险机构在中国设立健康保险公司。

（6）英方欢迎中方修改保险资金境外投资法规以拓宽境外投资范围的计划。

（7）双方欢迎中国全国社会保障基金理事会与英国保险和养老资产管理行业开展密切合作，通过包括公共养老基金海外资产配置等方式，分享资产配置和管理方面的专业知识。

人民币国际化

32.双方共同支持人民币国际化，认同伦敦在支持人民币全球使用，促进中国国内资本市场国际化进程中发挥的关键作用。双方同意2018年在伦敦共同举行中英人民币国际化对话，以加强伦敦作为西方人民币中心的重要地位，鼓励扩大人民币在国际市场的使用。

33.双方同意继续推进中英跨境人民币业务，支持在中英两国贸易和投资中使用人民币计价结算。双方同意进一步发挥英国人民币清算行作用，继续推动伦敦离岸人民币市场发展。中方欢迎更多的英国当地银行和金融市场基础设施加入人民币跨境支付系统。

金融服务峰会

34.双方欢迎由英方中国市场咨询小组和中方中英金融创新顾问小组共同主办的首次中英金融服务峰会取得的成果。双方同意考虑并推动落实首次峰会提出的建议，鼓励两国企业进一步深化合作，加强伙伴关系，以落实中英金融服务战略规划。

金融科技

35.双方欢迎去年对话达成的中英金融科技桥相关成果已取得的落实进展，包括英国金融行为监管局和中国人民银行合作分享金融科技监管知识和经验，并致力于深化伙伴关系以便利中英企业进入对方市场：

（1）双方欢迎就英国金融行为监管局“监管沙盒”深化合作交流以规范金融科技，并将在中国探索机会发展相似的机制以确保国内外企业享有安全的市场准入和有效的监管。

（2）双方欢迎上海清算所与伦敦资本市场金融科技企业R5就共同推出跨境外汇清算解决方案达成一致。双方欢迎World First公司在上海设立办公室及外商独资企业。人民银行欢迎World First公司申请支付业务许可后依法合规从事跨境支付业务。

36.双方期待在“中英金融科技桥”框架下继续加强监管合作，促进金融科技企业间的交流。为推动两国金融科技企业和非银行支付机构依法合规开展业务，双方将加强关于跨境非银支付业务的双边监管合作和信息共享。双方同意加强金融科技领域研究合作，欢迎英国金融行为监管局与中国人民银行启动金融科技借调计划，第一步是派遣一名英国金融行为监管局员工来华，与中国人民银行在金融科技领域开展密切合作。双方将在数字货币研究方面加强合作。同时，双方将在中英金融服务峰会框架下，进一步完善金融科技和监管科技创新对话机制，推动双方监管部门和企业间的交流合作和共同发展。

绿色金融

37. 双方在绿色金融资本筹集、产品创新和思想引领方面互为主要合作伙伴。中英双方在推动全球绿色金融发展方面发挥着引领作用，包括在中国和德国担任二十国集团（G20）主席国期间担任G20绿色金融研究小组联合主席。双方承诺加强在该领域合作，促进商业机构更多参与可持续金融体系的发展。

38.双方支持由中国金融学会绿色金融专业委员会和伦敦金融城绿色金融倡议组织共同发起成立的中英绿色金融工作组所开展的工作。作为该工作组2018年工作计划的一部分，在中国人民银行、英国财政部、英格兰银行以及其他中英机构的共同支持下，中英绿色金融工作组将就以下议题开展合作：牵头讨论针对中英投资者的“一带一路”投资环境风险管理的自愿准则；研究推动绿色资产证券化的措施；鼓励两国金融机构参照气候相关金融信息披露工作组（TCFD）的建议开展环境信息披露工作试点；开展分析以展示环境、社会与治理（ESG）与财务表现之间的正相关性。

39.双方支持绿色债券市场发展，鼓励中英优质企业跨境发行绿色债券。中方欢迎英国机构投资者投资中国绿色债券市场。

40.中方欢迎绿色投资集团在北京设立代表处，欢迎该集团与中方合作伙伴开展合作，分享绿色金融专业知识。

四、基础设施和能源

41.双方继续支持中英基础设施联盟在各自市场及第三方市场加强基础设施商业合作中的关键平台作用。双方认可在中英基础设施学院框架下围绕基础设施和城市更新议题成功开展的两期课程，并欢迎于2018年就能源和铁路议题推出新一轮课程。

42.双方将继续就高铁项目开展紧密合作，对中英铁路联合工作组正在开展的合作，包括今年7月在青岛举行的工作组会议取得的进展表示欢迎。为推动中英铁路合作取得实效，2018年中国国家发展改革委将与英国交通运输部在英国举行中英铁路联合工作组第四次会议。双方将重点推动中方参与英国高铁2号线（HS2）二期项目进展，推动铁路发展规划信息、法律法规、铁路建设、设计、装备供应、技术服务合作以及第三方市场合作，继续发挥工作组平台作用，加强信息共享，促进中英务实合作取得进展，并共同努力推动双方在第三方市场合作，发挥互补优势，开展国际项目合作。

43.双方重申能源合作是中英全球伙伴关系的核心组成部分之一。双方欢迎2017年能源对话取得的成果。双方通过启动“中英清洁能源伙伴关系行动计划”重申并扩展发展清洁能源的承诺。双方将在商定的框架内努力落实合作伙伴关系，提高合作水平。中英两国具有互补优势，一致同意双方开展互利政策和商业合作的重要性，包括：

（1）清洁技术，包括海上风能、民用核能；

（2）支持以电代煤、以气代煤，支持天然气发展；

（3）市场改革，包括天然气和电力行业；

（4）推动发展未来能源技术，包括低碳运输和智能电网技术；

（5）中英在国际能源治理领域的合作，包括在“创新使命”下的相关承诺。

44.中方认可英国在电力市场改革、设计和价格监管领域的先进经验。英方赞赏中国输配电价改革取得的显著进展。双方欢迎2017年举行的输配电价监管和电力市场改革交流活动方面取得的积极成效，同意探讨双方在上述领域的更多合作机会。双方将探讨加强合作的行动计划，分享在输配电价、电力市场和可再生能源价格改革等领域经验。

45.双方重申2015年10月习近平主席访英期间双方发表的《关于加强两国民用核能一揽子合作的联合声明》的重要性，承诺在进一步扩大核能利益、减少核能风险方面寻求合作机会。

双方认识到在核安全监管合作领域建立互利共赢合作关系的重要性，同意进一步加强两国核安全监管机构之间的合作，推进落实《中华人民共和国国家核安全局与大不列颠与北爱尔兰联合王国核监管办公室关于在和平利用核能领域开展安全监管合作及信息交流的安排》，并建立核安全合作指导委员会会议机制。

46.双方欢迎英国核监管当局启动对“华龙一号”的通用设计评审（GDA）。双方同意尽快采取切实措施在有效、及时处理所有与核燃料、核设备及核技术出口相关的出口管制申请及政府承诺方面加强互利合作，双方同意未来将在此领域达成谅解备忘录。双方同意充分利用核电厂多国设计评价机制（MDEP）内的“华龙一号”工作组开展合作，并将本着公开透明的原则在工作组内就“华龙一号”相关技术信息与监管经验加强交流。

47. 双方愿在遵循两国政府资助监管规定、与两国政府提出的市场民用核能研究优先领域一致以及双方都可接受的知识产权安排的前提下，联合开展民用核能研究。

48.双方认识到废物管理及退役对核能行业可持续发展具有重要意义。双方认识到英国在核废物管理及退役方面的经验对支持中国核工业发展具有潜在意义。双方欢迎相关企业在核燃料循环后端开展的商业合作并再次强调对于2014年签署的《关于加强核工业燃料循环全产业链合作的谅解备忘录》的支持。双方认识到两国在这一领域具有各自独特经验，鼓励在共赢基础上开展进一步商业合作。中方愿与英方积极开展核设施退役和去污合作，包括在中英两国市场以及第三方市场寻找商业机遇。

49.双方一致认为中英能源对话与民用核能工作组有效促进了双方民用核能各领域合作，欢迎对话及工作组最近一次会议取得的成果。双方认识到在中英两国和第三国发展进一步互利商业伙伴关系的潜力。

50.英方欢迎中方对英国大陆架油气生产和退役以及对英国炼油业的既有和未来投资。双方同意在中英及第三方市场继续合作，以降低石油和天然气供给成本，提高生产效率。

51.双方认识到中英联合海上风电行业咨询小组（以下简称“咨询小组”）的重要性，同意就落实2017年10月咨询小组第三次会议所提出的优先领域开展交流。双方欢迎中国三峡公司近期对英国海上风电资产的投资。双方支持中方对英方海上风电场及其供应链开展进一步投资，为英国公司参与中国海上风电项目提供机会，并探讨在英国开展涡轮测试和示范项目。

52. 包括中国国家开发银行在内的中国机构投资者在基础设施领域拥有丰富融资经验，愿积极支持清洁能源、高铁等领域的中英合作项目，包括英国欣克利角核电站、HS2、英国电动汽车充电基础设施基金等项目。

五、产业战略

53.中方欢迎英国的新产业战略，认识到其为深化中英经济伙伴关系提供的机遇。双方认识到合作、共享全球挑战、互学互鉴的直接经济效益，同意以上述协同效应为基础探索围绕英国产业战略五大主题（创意、人力、基础设施、商业环境、地区）开展合作的机会。

54.双方欢迎中国国家发展和改革委员会与英方开展的经济增长与合作部长级交流所取得的成效。今年12月，双方在北京举行了第六次部长级交流，就双边投资、区域合作和产业战略等领域议题进行了深入交流。

55.认识到国际合作在研究创新领域的重要性，双方重申将致力于践行在2017年12月6日中英高级别人文交流机制第五次会议期间发布的中英科技创新合作战略。双方同意在科学、创新和技术领域进一步开展研究和产业合作。双方在研究与创新桥计划框架下的15个产学研合作项目顺利实施，欢迎由英国创新署与江苏、上海、广东建立的产业创新基金，这将推动两国创新合作。

56.双方同意开展合作，支持京津冀协同发展。双方欢迎2017年中国东北及其他老工业基地与英方合作取得的进展，并在2018年进一步开展合作，推动创新驱动型经济发展，培育发展新动能。双方将继续支持讨论城市更新合作试点和老工业区改造等合作。双方将继续通过中英（大连）先进制造区等项目的发展推进中国东北部工业城市转型，通过创新和职业教育等领域的能力建设和技术交流共享最佳实践。

57. 中国工业和信息化部与英国商业、能源和产业战略部将围绕《中国制造2025》和英国产业战略开展合作，鼓励双方开展交流与对话。作为一个良好的开端，今年7月，双方在伦敦就绿色制造业创新开展了富有成效的对话，同意建立机制，进一步寻找该领域产业与研究合作的机会。

58.双方视可持续城镇化为促进增长、解决污染问题、提高国民生活质量的推动力，并确认双方在此领域合作的重要性。双方欢迎并承诺将善用包括正在开发的英国多年期繁荣基金在内的资金项目共同设计开展一系列活动以推动此领域的目标达成。

双方鼓励城市、商业以及研究机构在开发执行上述活动时发挥积极作用，以推动中英双方建立长期合作机制，合作共创绿色、智慧、包容性未来城市。双方欢迎中国城市和小城镇改革发展中心与英国未来城市机构在其2016年3月签署的谅解备忘录基础上进一步深化合作。

59. 英方欢迎新能源汽车的发展并将继续与中国制造商合作设计和开发用于中国以及世界各地的新能源汽车，以减少碳排放的影响。双方同意就超低排放车辆技术开展合作，就两国实现零排放运输、充电基础设施投资和发展英国超低排放车辆供应链进行持续对话，以加快这些车辆的制造和供应。双方同意，特别对小产量制造商，市场准入应该对各方保持开放和平等。

60.双方已同意进一步扩大航权安排，将中英间航班运力额度增加至每周150班。

61.双方同意根据中国国家航天局与英国航天局签署的航天合作谅解备忘录继续指导并推动两国航天合作，支持继续利用中英空间科学与技术联合实验室平台推动双方合作。双方同意先行成立高层工作组，以制定中英未来5年的航天合作线路图，指导中英后续航天合作。

62.双方支持两国航天机构探索通过英国国际伙伴项目等方式共同为发展中经济体提供卫星应用服务。

63.双方认识到加强在农业遥感、空气质量监测等空间应用领域的合作将有利于促进航天科技应用于经济社会领域，同意在中英牛顿基金框架下推动农业遥感、空气质量监测等项目合作。双方支持空间科学领域的合作，推动中英两国研究机构在中欧合作的框架下开展“太阳风—磁层相互作用全景成像卫星”的研制工作。双方赞赏在中英空间科学与技术联合实验室合作框架下成功举办“第二届空间科学教育与研究活动周”，并对第12届中英空间科学与技术合作研讨会上成立的中英空间教育与文化中心表示祝贺。

64.双方认识到知识产权在促进技术创新、经济增长、贸易投资方面的重要作用。双方将在知识产权领域进一步深化合作，包括：

（1）共同努力，继续为两国知识产权制度的用户和公众提供更好服务。双方同意加强知识产权合作，帮助双方企业保护和实施知识产权。双方认识到年度中英知识产权研讨会取得了良好效果。2018年中英知识产权研讨会将在中国举行，将进一步促进两国企业、研究人员和政策制定者之间的对话。

（2）同意就改进专利和外观设计、生物技术/药物等优先技术领域的知识产权、专利审查高速公路（PPH）以及提高两国知识产权申请效率的工作分享机制等保持沟通交流。

（3）国家工商总局与英国知识产权局将在2018年继续执行商标领域双边合作谅解备忘录。双方将继续就商标和地理标志的审查和执法交换意见。双方将就如何保持商标审查的质量和一致性，以及打击商标恶意申请分享经验。

（4）双方重视在版权领域的多双边合作，并将继续就数字环境下的版权执法、著作权集体管理等共同关心的问题进行交流。双方认识到中英在对方国家收取版权集体管理版税方面存在潜在增长空间，将继续支持集体许可制度在中国的发展，并敦促中英两国版权权利所有人以及广播电台、电视台依照各自法律及时履行义务。

（5）双方将继续推动打击网络盗版工作及合作，以更多更好地惠及中英两国版权权利所有人。双方将进一步就搜索引擎和手机应用等网络版权保护开展经验交流。

（6）双方欢迎中英两国产业更新电子商务和社交媒体知识产权保护倡议，并将继续提供适当支持，以实现营造更有利的知识产权环境的共同目标，提升电子商务消费者信心。特别是，双方欢迎中小企业友好通知—移除机制、更有效的线上外观设计权利保护、基于大数据的有力预防措施以及线上线下执法无缝衔接措施等方面已开展的业务。双方同意在互联网领域打击侵权假冒方面就跨境执法合作与交流加强双边合作。双方将于2018年初举行跨境执法协调会。

65.双方将深化卫生领域合作：

（1）继续落实2016年签署的中英卫生合作谅解备忘录，重点开展卫生政策、医学科研、全球卫生等领域合作。

（2）继续实施中英全球卫生支持项目，共同支持2030可持续发展目标。合作改善全球卫生治理，应对卫生紧急状况，通过加强监测、数据共享等方式增强全球抗击传染病的能力。

（3）欢迎中方发布《关于深化审评审批制度改革鼓励药品医疗器械创新的意见》，包括考虑在海外多中心获得的临床试验数据。

（4）继续保持和加强在化妆品动物替代实验，包括研究、开发、验证等方面的双边交流，通过人员交流和培训等适当渠道和方式就化妆品动物替代试验相关研究、政策法规及技术方法的发展应用进行交流，并欢迎在化妆品安全风险评估方面继续开展研讨。

六、“一带一路”和第三方市场合作

66.双方同意在“共商、共建、共享”基础上加强 “一带一路”倡议有关合作。英方欢迎今年5月在北京举行的“一带一路”国际合作高峰论坛。双方期待就“一带一路”倡议的进一步合作机会加强官方交流与对话。

双方认同中英两国基础设施建设能力的协同效应，同意充分发挥彼此优势，利用好英国在诸多领域的专业优势，特别是融资、PPP、保险、绿色金融以及围绕国际基础设施项目的成功设计与实施所需的法律及专业顾问服务等。双方将合作促进相关建设成果的商业、环境与社会可持续。

双方将加强在基础设施互联互通、装备制造、金融、投资等方面的务实合作，并探讨在“一带一路”沿线开展第三方市场合作，在中英面向21世纪全球全面战略伙伴关系框架下打造积极可持续的贸易、经济发展和安全成果。

67.双方同意基于通过讨论与合作实现共同增长的原则，落实《“一带一路”融资指导原则》，推动“一带一路”倡议下的投融资合作：

（1）双方同意鼓励开发性和政策性金融机构发挥积极作用，共同推动中国国家开发银行、进出口银行、丝路基金、英国国际发展部就发展融资开展合作。

（2）双方鼓励两国金融机构探索“一带一路”倡议相关商业机会。双方欢迎包括伦敦、上海及香港在内的两国金融中心在“一带一路”倡议中发挥积极作用。

（3）双方同意在“一带一路”倡议下，支持中英两国企业在第三方市场合作并共享实践经验。双方欢迎中非发展基金与英国国际发展部（DFID）联合中国国际贸易促进委员会（CCPIT）、联合国国际贸易中心（ITC）于2018年四季度在中国召开中英对非投资论坛。

（4）双方同意鼓励私营资本参与“一带一路”投资，围绕吸引私营资本投资“一带一路”项目的相关机制开展可行性研究。

（5）双方同意鼓励中英两国开展更大范围的商业合作，鼓励各自使馆、商业部门和商业机构开展三方合作。

（6）根据《“一带一路”融资指导原则》要求，双方强调应加强对融资项目社会环境影响的评价和风险管理，重视节能环保合作，履行社会责任，促进当地就业，推动经济社会可持续发展。在动员资金时，应兼顾债务可持续性。

68.双方同意在“一带一路”项目发掘、研究和能力建设方面深化合作。

（1）双方继续认同中国“一带一路”倡议和英国包括“英格兰北部经济中心”等区域发展战略的协同效应，并致力于共同加强政策和项目合作。

（2）为落实中英“一带一路”基础设施领域项目合作，双方同意共同发掘“一带一路”试点项目，并建立潜在试点项目联合发掘和评估机制。

（3）双方同意联合或各自开展“一带一路”建设研究项目，相互交流共享研究成果。围绕双方优势互补的重要合作领域，就“一带一路”建设项目合作的机制、路径和试点项目遴选标准开展研究，并在项目准备、融资、风险管理和标准等环节开展政策研究和能力建设，支持共建“一带一路”倡议落实。

69.中方欢迎英国出口融资署宣布其有能力支持规模不高于250亿英镑的新增业务，以支持“一带一路”亚洲项目。双方欢迎英国出口融资署、中国出口信用保险公司和其他出口信贷机构间深化合作，探讨和开发为两国出口商共同参与的项目提供共同保险或再保险。英国出口融资署欢迎通过海外投资保险支持英国公司获得“一带一路”倡议下的潜在投资机遇。中国进出口银行作为中国官方出口信用机构，长期致力于为基础设施、能源、工业制造和产能等领域的合作提供融资支持，未来可支持中英企业共同开拓国际市场。

70. 双方欢迎成立首期10亿美元中英双边投资基金的提议。该基金将由中英机构牵头，以商业化和市场化为基础建立和运作。英国前首相戴维·卡梅伦也参与其中。基金将投资于中、英及第三方市场的创新、可持续和消费驱动型增长机会，以创造就业、促进贸易，支持 “一带一路”倡议。

71. 双方鼓励中国国家开发银行与英方探讨建立相关投资基金的可能性，更好地促进中英两国企业交流合作。

72. 包括伦敦金融城、英中贸易协会、City UK和London & Partners在内的英国私营领域机构将于2018年在英举办“一带一路”论坛，展现英方在“一带一路”基础设施项目组织和融资方面的国际优势地位，欢迎中方参加。

Policy Outcomes of the

9th UK-China Economic and Financial Dialogue

Chinese Vice Premier Ma Kai and the UK’s Chancellor of the Exchequer Phillip Hammond concluded the ninth UK-China Economic and Financial Dialogue on 16 December 2017, in Beijing. They welcomed the 45th anniversary of the establishment of UK-China Ambassadorial Diplomatic Relations and reiterated their commitment to foster a global comprehensive strategic partnership for the 21st Century, to deepen strategic economic collaboration, boost bilateral trade and investment and deepen financial links. The ninth dialogue marked wide ranging and positive progress in areas including macroeconomic policies, trade, investment, finance, industrial strategies, Belt and Road Initiative and third-party markets. The two sides reached a series of new agreements on deepening economic and financial cooperation and providing new impetus to the development of "Golden Era" of UK-China relations.

Ⅰ. Macroeconomic Situation and Policy

1. The global economic recovery continues, but growth remains below pre-crisis levels and is still faced with many uncertain and unstable factors. Both sides will continue working closely together and with all international partners to strengthen macroeconomic policy coordination and improve global economic governance to achieve the shared goal of strong, sustainable, balanced and inclusive global growth.

2. The UK side acknowledges the successful conclusion of the 19th CPC National Congress, welcomes the accompanying reports’ focus on improving the quality of economic growth, and looks forward to strengthening concrete cooperation with China to achieve mutual economic benefit. The UK side welcomes and supports China’s achievements and ongoing efforts in transforming and upgrading its economy, in particular efforts to place China’s economy onto a more sustainable medium-term footing. China commits to continue to deepen its supply-side structural reform; including phasing out excessive capacity and reducing leverage, and strives to develop a modernized economy with better quality, higher efficiency, and more robust drivers for a sustained and sound economic growth. As part of this, the UK looks forward to further steps to strengthen the role of the market in determining the efficient allocation of resources and to ensure all foreign companies registered in China will be treated equally.

3. Both sides agree to establish deeper expertise sharing and cooperation through creating a new joint expert group that could exchange views on macro-economic and fiscal policies.

4. The UK and China agree to work together to address major global economic challenges. Both sides reaffirm their commitment to the rules-based international economic system, and to the international economic organizations that underpin it. Both sides will commit to continue to work closely through the G20 as the premier forum for international economic cooperation. Both sides commit to implement the outcomes of the Hangzhou and Hamburg Summits, including building an open world economy, supporting the multilateral trading system, and promoting international cooperation in the areas of structural reform, digital economy, sustainable development, international financial architecture reform, infrastructure investment and anti-corruption, to deliver a global economy that works for everyone.

5. Both sides commit to promote the implementation of the G20 Action Plan on the 2030 Agenda for Sustainable Development. Both sides agree to enhance coordination and cooperation, including through regular exchanges, in implementing the 2030 Agenda, support the United Nation’s important role in international development cooperation, and commit to provide, within their respective capabilities, support and assistance to developing countries in their implementation.

6. The UK and China are committed to sustained action and to maintain global political momentum to combat climate change through respective actions and bilateral cooperation. The UK and China underline their highest political commitment to the full, effective and timely implementation of the United Nations Framework Convention on Climate Change and its Kyoto Protocol and Paris Agreement, in accordance with its principles including equity and common but differentiated responsibilities and respective capabilities, in the light of different national circumstances. Both sides reaffirm their commitment to completing the work program related to the implementation of Paris Agreement by 2018, and advancing the work program in a balanced manner regarding all its elements. Both sides emphasize that pre-2020 implementation and ambition are very important and that enhanced pre-2020 ambition can lay a solid foundation for enhanced post-2020 ambition. The UK and China are determined to forge ahead with further policies and measures for the effective implementation of their respective nationally determined contributions. Accelerating action will provide all countries with significant opportunities for transitioning their economies, enhancing competitiveness and securing the wider socio-economic benefits of clean energy. The UK and China have committed to build on their significant bilateral collaboration on the climate agenda including on green finance, emissions trading, carbon capture utilization and storage and the clean and low-carbon energy transition. Both sides recognize the increase in the frequency and severity of extreme weather events and the risks posed by dangerous climate change to people’s lives and livelihoods and undertake to collaborate to build resilience, understanding of those risks and the case for greater action.

7. Both sides agree to maintain close cooperation in the field of multilateral taxation to combat cross-border tax evasion and avoidance and prevent tax base erosion and profit shifting (BEPS). Both sides agree to continuously support the implementation of G20 standards for international tax transparency including automatic exchange of information. Both sides will continue to contribute to the study and formulation of taxation rules for digitalization of economy and work together to create a fair and transparent international tax environment.

8. Both sides support the World Bank Group (WBG) to complete the implementation of 2015 Shareholding Review following the agreed principles. Both sides welcome the World Bank Group’s Forward Look and expect further progress in all areas, including better serving all client segments and targeting International Bank for Reconstruction and Development’s (IBRD) resources towards areas of the world that need funding most and have least access to capital.

9. Both sides support maintaining a strong, quota-based and adequately resourced IMF to preserve its role at the centre of a strengthened global financial safety net, and support IMF's efforts to improve the international monetary system by promoting the quota reform and examining the possible broader use of the Special Drawing Rights (SDR). Both sides look forward to the completion of the 15th General Review of Quotas by the 2019 Spring Meetings and no later than the 2019 Annual Meetings. We reaffirm that a realignment of quota shares is expected to result in increased shares for dynamic economies in line with their relative positions in the world economy, and hence likely in the share of emerging market and developing countries as a whole.

10. Both sides welcome the significant strides made by the Asian Infrastructure Investment Bank (AIIB) in 2017 as it has increased its lending activities and welcomed more new members from around the world. Both sides will continue to strengthen all-round cooperation and partnership on the AIIB. To this end, the UK is pleased to announce that it has signed a “Contribution Agreement” with the AIIB, formalising its commitment to provide $50m to the AIIB’s Special Fund for Project Preparation, matching China’s commitment of the same. The UK will work together with China and the AIIB to ensure that the Special Fund works effectively in enabling the AIIB to expand its operations quickly into less developed countries. Together with other members and consistent with the strategic priorities of the AIIB, both sides will draw upon good practice and experience of existing Multilateral Development Banks (MDBs) to foster the AIIB's own advantages and specialties, support innovative governance and operations and continuously enhance institutional capability so as to jointly build the AIIB into a 21st century MDB. Both sides renew their commitment to this shared vision of the AIIB and look forward to the Bank continuing to grow its operations and international presence in 2018.

11. Both sides support the ongoing work of the Paris Club, as the principal international forum for restructuring official bilateral debt, towards the broader inclusion of emerging creditors. China intends to continue its regular participation in Paris Club meetings, including further discussions on potential membership.

12. The UK and China agree to work together to seize the opportunities presented by the UK’s new Multi-Year Prosperity Fund China Programme to support sustainable economic development and shared prosperity. Both parties encourage the Fund to enable further bilateral cooperation, trade and investment.

II. Trade and Investment

13. China and the UK each recognise the huge benefits of an open world economy, and oppose trade and investment protectionism. Both sides reaffirm their support for the World Trade Organisation (WTO) as the central pillar of a rules-based, transparent, open, inclusive and non-discriminatory multilateral trading system, and will work together to preserve the core values and principles of the WTO. Both sides will:

i. support the UK’s smooth transition to fully independent WTO membership with its own schedules of concessions, ensuring minimal disruption to the UK-China trading relationship.

ii. recognise the mutual benefits to be derived from membership of the Government Procurement Agreement (GPA). China welcomes the UK's intention to maintain its participation of the GPA when it leaves the EU, and the UK welcomes China’s intention to join the GPA in due course.

iii. reaffirm the importance of tackling global overcapacity in the steel sector, and welcome the substantial report with concrete policies and measures formulated by the Global Forum on Excess Steel Capacity on November 30, 2017. Both sides commit to continued engagement with the Global Forum, and continued efforts to tackle the underlying causes of overcapacity.

iv. welcome the work done through the UK-China Standardisation Cooperation Commission and look forward to building on current programmes to explore further opportunities in new and innovative areas.

14. Both sides agree to strengthen the trade and investment partnership to increase two way trade and investment, deliver jobs and growth, and support economies that work for everyone. Both sides commit to making concrete improvements towards equal market access and to giving businesses from both countries equal treatment through a transparent business environment.

China will host the China International Import Expo starting from 2018 and welcomes the UK side to participate. Both sides can take this as an opportunity to further explore new growth areas of trade.

15. The UK is committed to a smooth and orderly transition to a new relationship with the EU, and to strengthen bilateral links with key partners, including China. The UK will continue to provide reassurance and certainty to partners and investors, both on medium-term growth given the strong fundamentals of the UK economy, and on the trade and investment environment. China wishes a smooth transition of relations between UK and the EU, and expects to see a prosperous, stable and open UK and Europe.

16. The UK welcomes China’s efforts to relax restrictions on market access including on services, and welcomes China’s commitments to equal treatment and opening up. China notes the publication of UK position papers and White Papers on trade and customs as the UK prepares to leave the EU. Both sides agree to strengthen trade and investment policy collaboration. Both sides will:

i. set the ambition for the bilateral trade relationship through a strengthened Joint Economic and Trade Commission (JETCO), including ongoing discussions on market access and business environment policies, high level discussion at the EFD, and through policy discussions at other high-level dialogues.

ii. welcome the meeting of the trade working group under the JETCO on December 15thto discuss the future trade relationship and undertake joint analysis on the opportunities and areas for further collaboration, consistent with both sides’ relationships with the EU.

17. Both sides agree to enhance collaboration on the opening up of China’s services sector. Both sides will:

i. exchange views on China’s plans to further open the services sector, and further develop it including under the Master Planfor Developingthe Services Sectorin an Innovative Manner (2017-2025).

ii. utilise other forums for elevating our discussions on this issue including the Trade in Services working group to be held under the JETCO.

18. Both sides commit to bilateral dialogue on dual-use export controls, so as to better facilitate and encourage bilateral high-tech trade.

19. Based on the principles of equality and mutual benefit, China Ministry of Finance (MOF) and the HM Treasury (HMT) will continue to strengthen Public-Private-Partnership (PPP) cooperation by organizing mutual visits and training programs, sharing knowledge and experiences, and promoting project cooperation and practical cooperation between Chinese and British companies. Both sides welcome the collaboration of ARUP with Chinese cities including Wuhan and Chengdu to work together to develop bankable infrastructure projects in China and attract international investment and expertise into their delivery.

20. Both sides recognize it is essential to give consumers access to high quality, safe food products. Both sides understand that UK gives high priority to the issue of its beef export to China. Both sides acknowledge the progress that has been made to date, and agree to maintain communication on this issue at the technical level. China will send experts to UK by spring 2018 for an on-site evaluation in line with an agreed roadmap.

21. Both sides recognize the importance of the digital economy to global trade.

i. Both sides agree to enhance dialogue on digital economy and relevant regulations at Ministerial level, for example via the China-UK Internet Roundtable.

ii. Both sides stress the importance of an open and transparent approach to the formulation of cyber security-related policies and standards. Both sides agree to increase cooperation and exchanges on cyber security talent cultivation, publicity and education.

iii. Both sides agree to ensure the Digital Economy is effectively represented in global trading frameworks through modern and ambitious digital provisions recognising that the Digital Economy, and E-Commerce in particular, is an important driver to wider economic, inclusive growth.

22. Both sides recognize each country’s attractiveness as a cross-border investment destination and the importance of high quality two-way investment as a driver of economic growth and job creation. Both sides will:

i. broaden and deepen the UK-China investment partnership, based on agreed principles, recognising the economic value of investment and committing both sides to deepening the bilateral investment relationship, including through reducing and clarifying restrictions; protecting investors and ensuring level playing fields between domestic and foreign companies; and maintaining open and frank dialogues.

ii. agree terms of reference for the China-UK joint investment working group previously agreed under the JETCO, identifying specific opportunities where cooperation would best enhance two-way investment.

iii. continue to support progress towards an ambitious EU-China Investment Agreement.

iv. continue to follow the G20 Guiding Principles for Global Investment Policymaking to maintain a favorable and open investment and business environment. China welcomes the UK’s commitment to maintain open, fair and transparent investment policies after Brexit to effectively protect the interests of foreign investors in the UK. The UK welcomes China’s commitment to adopt policies to promote high standard liberalization and facilitation of trade and investment.

v. welcome the continuing progress on the construction of the Hinkley Point C project.

23.The General Administration of China Customs and Her Majesty’s Revenue and Customs reiterate their commitment to implementing the 2015 Memorandum of Understanding (MoU) on Cooperation and Mutual Administrative Assistance in Customs Matters and to exchange information, including intelligence, risk and trend information and risk analysis indicators, with the aim of preventing, detecting, suppressing and investigating breaches of Customs Legislation and provide feedback on the outcome of intelligence, information and assistance provided. Both sides will:

i. reiterate their commitment to eliminate the illicit trade in tobacco products and continue to take actions to tackle the global problem presented by illicit tobacco through policy measures and effective international co-operation and mutual assistance.

ii. seek to agree an Operational Protocol to the 2015 MOU that will facilitate increased intelligence and information exchange on suspected customs related fraud.

iii. utilize agreed bilateral legal instruments to secure and share evidence on suspected customs related crime.

iv. cooperate to ensure the provision of guidance to Chinese and UK businesses in relation to appropriate national tax and customs legislation, to ensure the facilitation of a legitimate, compliant, transparent and enabling trading environment, particularly in the area of e-commerce.

v. In partnership with the United Kingdom’s Border Force, both sides will continue to strengthen law enforcement cooperation to combat smuggling in all its forms. All parties reiterate their support for cooperation through the Smart and Secure Trade Lane (SSTL) pilot project and the mutual recognition of Authorized Economic Operators (AEO) and will seek to advance seaport twinning cooperation.

vi. strengthen cooperation on risk targeting and risk control through the sharing of expertise and officer exchanges.

III. Financial Services

Financial Regulatory cooperation

24. Both sides recognize that China and the UK have an unparalleled financial partnership and commit to deepening and expanding that relationship. China recognizes that the City of London is and will continue to be the world’s leading global financial centre given its history, market depth and global talent and will remain China’s partner of choice on financial service collaboration.

Both sides welcome the continued cooperation between the UK’s and China’s regulators and welcome the first meeting of the Bank of England and People’s Bank of China Joint Symposium, chaired by Governor Mark Carney and Governor Zhou Xiaochuan to discuss UK-China regulatory cooperation, macro-prudential frameworks, financial stability and green finance.

i. Both sides continue to support implementation of the Strategic Plan. China welcomes and supports the UK’s Multi-Year Prosperity Fund Programme for Financial Services to support greater sharing of expertise between the UK and China on regulatory reform, market development and opening-up.

ii. In an effort to implement the plans on opening China wider to the outside world as set out during the 19th CPC National Congress, China has made the following decisions: raise the cap on direct or indirect equity ownership by single or multiple foreign investors in joints ventures securities, fund management and futures companies to 51%,and there will be no equity cap limit on such investments three years after the implementation of aforementioned measures; ease the 20% cap on a single foreign investor’s stakes in Chinese banks and financial asset management companies and the 25% cap on multiple foreign ownership to apply the same rules of equity investment to domestic and foreign investors in the banking sector; and ease the cap on single or multiple foreign investors’ stakes in life insurance companies to 51% in three years and remove the cap in five years. The UK side welcomes this commitment and looks forward to further details on approval criteria and implementation timetable.

China recognises the strengths of UK financial services companies across these sectors, and the mutual benefit in their greater engagement in the Chinese market. China welcomes and encourages UK financial firms to take early advantage of this opening up to invest and expand their operations in China.

25. Based on the principles of mutual respect for each other’s sovereignty and laws and regulations, both sides agree to further strengthen regulatory cooperation and knowledge sharing:

i. Banking regulatory authorities in China and UK will continue to improve the mechanism of having regular negotiations and dialogues to promote close communication and cooperation in cross-border regulation. Both sides seek to further strengthen communication and cooperation on cross-border payment supervision and conduct supervision and consumer protection, which include conduct supervision frameworks and tools, financial ombudsman (the third-party dispute resolution) regime, financial literacy and education, evaluation for the performance of financial consumer protection as well as FinTech related consumer protection.

ii. Both sides agree to promote cooperation on anti-money laundering supervision and information exchange. The People’s Bank of China and the Financial Conduct Authority will further strengthen supervisory cooperation and actively promote the signing of Anti-Money Laundering and Counter-Terrorist Financing cooperation agreement.

iii. Both sides agree to promote cooperation on audit oversight based on mutual respect for each other's national sovereignty and domestic laws. Both sides also agree to progress towards a bilateral cooperation agreement on the exchange of information on the monitoring of the quality of audit work.

iv. Both sides agree to further strengthen regulatory cooperation and experience sharing on futures and OTC derivatives markets, promote communication, training and research in derivatives markets, and attract UK institutional investors to trade in designated futures products in China.

v. China and UK insurance regulatory authorities are willing to further intensify regulatory and supervisory cooperation, technical exchange and experience sharing and to jointly hold supervisory conference on technical matters and issues of shared supervisory interest.

vi. Both sides agree to strengthen communication and cooperation on anti-counterfeit currency techniques.

Banking

26. Both sides continue to support increased presence and activity of Chinese banks in the UK and UK banks in China. Both governments encourage their respective banks to deepen cross-border collaboration to support the sustainable implementation of the Belt and Road.

i. China and the UK commit to strengthen information sharing to promote the study on China’s close-out netting rules, including by establishing a UK-China Netting Working Group led byCBRC and China Banking Association (CBA) along with Asia Securities Industry and Financial Markets Association (ASIFMA) and International Swaps and Derivatives Association (ISDA).

ii. The UK welcomes the China Investment Corporation's efforts to open its London office, supporting the City of London to play an active role under the Belt and Road Initiative.

iii. Both sides welcome the Prudential Regulation Authority and Financial Conduct Authority's decision to authorise branch license for Agriculture Bank of China-London Branch. Both sides welcome the continuing interest by firms in submitting applications to establish branches and subsidiaries in the UK, and the commitment of the Prudential Regulatory Authority (PRA), Financial Conduct Authority (FCA) and China Banking Regulatory Commission (CBRC) to work together to ensure an effective review of all proposals.

iv. Both sides welcome the opening of the China Banking Association (CBA) London Office. The UK side commits to work with the CBA to further deepen UK-China banking ties.

v. The UK welcomes China’s commitment to open its domestic bank card clearing market to foreign firms. Chinawelcomes wholly-foreign-owned or joint-venture suppliers of electronic payment services (EPS) to apply for bank card clearing licenses locally.

Capital Markets

27. China reaffirms its commitment to support further internationalization of the RMB, to continue exploring channels for enhancing bilateral and multilateral capital flows, and to leverage the unrivalled depth and liquidity of London’s markets to support RMB usage and Chinese firms to raise capital in London.

i. Both sides welcome the progress that has been made on preparation for viable rules and arrangements for the implementation of the Shanghai-London Stock Connect, conducted by the London Stock Exchange and Shanghai Stock Exchange. Both sides agree to further research into realising the connect by listing on each other’s market depository receipts that represent shares from eligible issuers of listed companies in both markets. Both sides also welcome China and the UK regulators to work on mutually agreed regulatory arrangements on cross-border securities enforcement cooperation, accounting standards, and auditing supervision under the framework of the Shanghai-London Stock Connect. Both sides agree to accelerate the final preparations and to review, when conditions permit, the timeline for launching the London-Shanghai Stock Connect.

ii. Both sides welcome the cooperation agreement between the London Stock Exchange Group ELITE Programme and Shenzhen Stock Exchange V-Next Alliance to facilitate cross-border capital formation in innovative sectors in UK, Europe and China. Both sides support the inaugural Commercial Road Show that will take place in Beijing and Shenzhen allowing UK and European based companies to forge links with the community of investors in China.

iii. The UK welcomes the opening of China’s bond market to international investors and launch of the Hong Kong-Shanghai Bond Connect scheme. Both sides welcome the establishment by National Association of Financial Market Institutional Investors (NAFMII), International Capital Markets Association (ICMA) and City of London of the International Working Group to promote research and cooperation on bond market opening and development.

iv. Both sides agree to launch a working group and feasibility study to establish a UK-China bond market connect arrangement to help facilitate greater two-way investment into each other’s bond markets.

v. Both sides agree to strengthen the communication and cooperation on regulation of financial market infrastructures.

vi. Both sides recognize the importance of securing a more diverse investor base in China’s bonds markets. The UK welcomes China’s decision to grant HSBC a licence and its decision to grant further qualified British banks an underwriting licence to allow lead underwriting of panda bonds in the China interbank bond market.

vii. Recognising London’s strength as a leading global centre for capital raising, its long history of developing innovative debt products, and its status as a leading offshore RMB centre, both sides welcome Chinese entities to strengthen their issuance of a full range of financing instruments including green bonds, in London.

viii. China will continue to work towards reform to improve the management of the QDII quota system, including toharmonize the scheme across domestic regulators.

ix. Except for the special administrative measures adopted by the state, China agrees not to put other restrictions on the foreign ownership limit, both for single investors and for all foreign investors in total, in listed companies.

28. Both sides encourage the UK institutional investors to actively participate in the trading and related services in China interbank markets. China will further improve the QFII and RQFII schemes, and encourage UK investors to invest in Chinese capital markets, including the Chinese bond markets. China welcomes qualified UK companies to issue Panda Bonds in the Chinese bond markets.

29. Both sides welcome the National Association of Financial Market Institutional Investors (NAFMII) and the International Capital Market Association (ICMA) to further deepen cooperation under the framework of their MOU.

Asset Management

30. Both sides recognize the UK’s position as the world’s second largest asset management centre, and China welcomes UK firms to enter and support the development of China’s domestic market.

i. Both sides welcome the communication between the FCA and CSRC to facilitate mutual understanding on asset management industries and regulatory regimes in both markets and agree to deepen cooperation in this area by launching a feasibility study on mutual recognition of funds.

ii. CSRC welcomes Man Group’s registration of products as a private fund. The CSRC also welcomes the registration of Winton Capital, Schroders and Aberdeen Standard Investments with AMAC as Private Fund Managers. CSRC also welcomes the application from Eastspring Investment to establish an investment management WFOE in Shanghai.

iii. CSRC welcomes foreign invested private fund management WFOEs to apply for private fund management business subject to meeting criteria as outlined in the private fund management regulations. Both sides agree to deepen regulatory and business engagement to explore further opportunities for UK private fund management business in China.

iv. Both sides agree to strengthen cooperation and explore increased participation of qualified foreign firms in domestic and cross-border custodian business. China welcome qualified UK-invested banks in China to apply for custodian licence. China will review related regulations, including giving appropriate consideration to the parent company’s overseas assets.

v. The UK government and China government support the Alternative Investment Management Association (AIMA) and Asset Management Association of China (AMAC) to work together under MOU of AMAC and AIMA signed in 2014 and launch education program and research projects focusing on capital market and asset management industry.

Insurance and Pensions

31. Both sides recognize the value of participation of foreign firms in China’s insurance market to help increase financial inclusion and resilience of individuals, families and firms in China.

i. Both sides are committed to enhancing disaster insurance protection domestically and worldwide. China welcomes launch of the new regulatory and supervisory framework for Insurance and Securities (ILS) in the UK, and the UK welcomes launch of China’s Institute for Disaster Risk Management and Catastrophe Insurance, and the State Council’s pilot disaster insurance zones. China and UK commit to jointly explore development of products, and assess feasibility of Chinese entities mitigating exposure via catastrophe bond issuances in London when time is proper.

ii. CIRC agrees to review and calibrate credit risk factors based on updated market conditions and industry data, providing opportunity to consult industry, including foreign-invested insurance companies in China, in order to more objectively measure the differences between the off-shore and on-shore reinsurance counterparties default risk.

iii. The UK welcomes CIRC’s early and positive consideration of Heng An Standard Life’s pensions licence application. China’s Ministry of Human Resources and Social Security will give due consideration to an application by the firm for an annuities licence for market entry in accordance with China’s laws and regulations.

iv. CIRC welcomes the Shanghai representative office opening by Pacific Life Re.

v. Both sides agree to deepen cooperation on health insurance and China encourages qualified UK insurers specialised in health insurance to set up health insurance companies in China.

vi. The UK welcomes China’s plans to revise overseas investment regulations for insurance funds to increase the scope of overseas investment.

vii. Both sides welcome closer cooperation between the National Council for Social Security Fund (NCSSF) and the UK insurance and pensions asset management industry to share expertise on asset allocation and management, including through overseas allocation of public pension funds.

RMB Internalization

32. Both sides welcome the internationalization of the RMB and recognize London’s vital role in supporting global use of the RMB and facilitating international access to China’s domestic capital market. Both sides agree to jointly host a UK-China RMB Internationalisation Dialogue in London in 2018, to promote London’s premier role as a Western Hub for RMB and encourage greater use of RMB in international markets.

33. Both sides agree to continue to promote the China-UK cross-border RMB business and support the use of RMB as the settlement currency in bilateral trade and investment. Both sides support the UK RMB clearing banks to fulfil their role to promote the development of the off-shore RMB market in London. China welcome qualified British commercial banks and financial market infrastructures to join CIPs.

Financial Services Summit

34. Both the UK and China welcome the outcomes from the first year of the UK-China Financial Services Summit, led by the UK’s China Market Advisory Group and China’s China-UK Financial Innovation Advisory Group. Both sides agree to consider and take forward recommendations from the Summit and encourage UK and Chinese business to further deepen their collaboration and partnership to help deliver the Strategic Plan.

FinTech

35. Both sides welcome the progress on the UK-China FinTech Bridge agreed at last year’s Dialogue including the collaboration between the FCA and PBOC to share experience and expertise on the regulation of FinTech, and commit to deepen this partnership to facilitate two-way market entry by UK and Chinese firms.

i. Both sides welcome deeper cooperation and exchange on the FCA’s Sandbox approach to regulation of FinTech and will explore opportunities to develop a similar approach in China to ensure safe market access and effective regulation of domestic and foreign firms.

ii. Both sides welcome the agreement reached between Shanghai Clearing House and R5, the London based Capital Market Fintech, and the Shanghai Clearing House, to create a Cross Border FX Clearing Solution. Both sides welcome the establishment of WorldFirst’s office and WFOE in Shanghai and the PBOC welcomes WorldFirst to apply for a payments licence and to conduct cross-border payments business in compliance with laws and regulations.

36. Both sides expect to continue to strengthen regulatory under the framework of China-UK Fintech Bridge. To promote Fintech companies and non-bank payment institutions in both countries to conduct business in compliance with laws and regulations, both sides will strengthen bilateral regulatory cooperation and information sharing on cross-border non-bank payment business. Both sides agree to strengthen research and cooperation on Fintech and welcome the agreement between the FCA and PBOC to work toward beginning a Fintech secondee programme, beginning with sending an FCA secondee to China to work closely with the PBOC on Fintech. Both sides agree to strengthen cooperation on digital currency research. Both sides agree to further improve the communication mechanism on FinTech and RegTech innovation under the framework of China-UK Financial Services Summit, and promote communication, cooperation and common development between regulatory authorities and companies from the two countries.

Green Finance

37. The UK and China recognise each other as their primary partner in green finance for capital raising, product innovation and thought leadership. China and the UK have been jointly playing a leading role in driving global green finance development including through co-chairing the G20 Green Finance Study Group under the Chinese and German Presidencies. Both sides are committed to further work in this area to further develop the commercial drivers behind a more sustainable financial system.

38. Both sides welcome the work of the China-UK Green Finance Taskforce, established by the Green Finance Committee of China Society for Finance and Banking and the Green Finance Initiative of the City of London. As part of its 2018 programme, the China-UK Green Finance Taskforce will, with support from the PBOC, HMT and Bank of England as well as other Chinese and UK actors to: lead the discussions on voluntary guidelines on green Belt and Road investment for Chinese and UK investors, research on measures to promote green asset securitisation in China and the UK, conduct pilot projects on environmental information disclosure consistent with the Task Force on Climate-related Financial Disclosures (TCFD) recommendations by financial firms in both countries, promote analysis to demonstrate a positive correlation between ESG and financial performance.

39. Both sides support the development of Green Bonds Market, encourage the cross-border issuance of Green Bonds by qualified Chinese and British companies. China welcomes the British institutional investors to invest in the Chinese Green Bonds Market.

40. The UK and China welcome the establishment of the Green Investment Group’s presence in Beijing and its collaboration with Chinese partners and regional investors to share green finance expertise.

IV. Infrastructure and Energy

41. Both sides continue to support delivery of the UK-China Infrastructure Alliance as a key platform to enhance UK-China commercial cooperation in infrastructure in each other’s markets and in third countries. Both sides welcome the successful delivery of the first two courses under the UK-China Infrastructure Academy, on Infrastructure and Regeneration, and welcome the next round of courses on Energy and Rail in 2018.

42. Both sides will continue to support closer cooperation on high-speed rail projects and welcome the ongoing collaboration through China-UK Joint Working group on Railway Cooperation including progress made at the working group meeting in Qingdao in July this year. To achieve concrete results on China-UK railway cooperation, NDRC and UK Department of Transport will hold the fourth meeting of the China-UK Joint Working group on Railway Cooperation in UK in 2018. The two sides will continue to promote China’s participation in the HS2 phase 2 projects, and deepen cooperation in multiple areas including information on railway development plans, laws and regulations, railway construction, design, equipment supply, cooperation on technical services and in third-party markets. Both sides will continue to work to develop the joint working group as a platform to strengthen information sharing, and promote progress in practical cooperation between China and the UK, and will work together in third-party markets where we can bring both countries complementary skills sets to deliver international projects.

43. The UK and China reaffirmed that energy cooperation is a core element of the Global Partnership. Both sides welcome the outcomes of the 2017 Energy Dialogue. The UK and China renewed and expanded their commitment to clean energy, through the launch of an Action Plan for the UK-China Clean Energy Partnership (CEP). Within the agreed framework, each government will work to implement the Partnership, to raise the level of cooperation to deliver the CEP. The UK and China have complementary strengths and agreed the importance of mutually beneficial policy and commercial cooperation including on:

i. clean Technology, including offshore wind, civil nuclear power.

ii. supporting replacement of coal with electric power and gas, supporting natural gas development.

iii. market reform, including in the gas and power sectors.

iv. stimulating the energy technologies of the future, including low carbon transport and smart grid technologies.

v. UK-China collaboration in international energy governance, including commitments under Mission Innovation.

44. China recognizes the UK’s advanced experience in the power market reform, design and regulation. The UK welcomes the achievements China has made in the transmission and distribution price reform. The two sides acknowledge the effective results of the exchanges organized in 2017 on transmission and distribution price regulation and power market reform and agree to explore further opportunities for collaboration in this field. Both sides will discuss action plans to strengthen cooperation and share experience on the reforms of transmission and distribution price, electricity market and renewable energy prices.

45. Both sides reemphasized the Statement of Cooperation in Civil Nuclear Energy signed during President Xi’s State Visit in October 2015. The two countries commit to seeking collaborative opportunities to further the benefits and mitigate the risks of nuclear power.

Recognising the importance of building mutually beneficial and win-win cooperative relations in the field of nuclear safety regulation, both sides agree to further strengthen cooperation between nuclear safety regulators, to promote the implementation of Agreement for the Exchange of Information and Cooperation in the Safety Regulation of Nuclear Energy Use for Peaceful Purposes Between the National Nuclear Safety Administration of the People's Republic of China and the Office for Nuclear Regulation of Great Britain and to develop a steering committee meeting mechanism on nuclear safety cooperation.

46. Both sides welcome the commencement of the Generic Design Assessment (GDA) for HPR1000 by the UK nuclear regulatory authorities. Both sides agree to enhance mutually beneficial cooperation on the efficient and timely processing of all export control applications and Government to Government Assurance requests relating to the export of nuclear materials, equipment and technology, taking practical steps to achieve this immediately, and in the longer term, with a view to agreeing a Memorandum of Understanding on this. Both sides agree to conduct cooperative activities by making full use of the HPR1000 Design-specific Working Group under the mechanism of Multilateral Design Program (MDEP), and to strengthen the communication on technical information and regulatory experience concerning HPR1000 within the Working Group based on the principle of openness and transparency.

47. Both parties expressed a desire to support joint research in civil nuclear energy, compatible with Government funding regulations in both markets, government priorities for civil nuclear research in both markets, and mutually acceptable arrangements on the treatment of intellectual property.

48. Both sides acknowledge the importance of waste management and decommissioning solutions to a sustainable nuclear energy sector. Both parties recognize the potential for UK experience in nuclear waste management and decommissioning to support China’s nuclear sector development. Both sides welcome the on-going commercial collaboration between companies in the back-end of the nuclear fuel cycle and re-affirmed their support for the MoU Concerning Enhancing Cooperation in the Field of Civil Nuclear Industry Fuel Cycle Supply Chain signed in 2014. With their respective unique experiences in this field, both sides encourage further collaboration on win-win and commercial basis. China is willing to actively cooperate with the UK in the areas of decommissioning and decontamination of nuclear facilities, including participating in commercial opportunities in each other’s markets and in third-party markets together.

49. Both sides agreed that the China-UK Energy Dialogue and the Civil Nuclear Working Group are effective mechanisms for promoting collaboration across the civil nuclear sectorbetween our two countries. Both sides welcomed the outcomes of the most recent meetings of the Dialogue and the Working Group. Both sides recognized the potential for further mutual beneficial commercial partnerships in the UK, China and third countries.

50. The UK welcomed China’s existing and future investment into oil and gas production and decommissioning in the UK Continental Shelf, and into UK refining. Both parties endorsed continued collaboration in the UK, China and third-party markets to reduce costs in the oil and gas supply chain and increase production efficiency.

51. Both countries acknowledged the importance of the Joint UK and China Offshore Wind Industry Advisory Groups. Both sides agree to support the implementation exchanges in priority areas outlined during the Offshore Wind Advisory Group’s third meeting in October 2017. The UK and China welcome China Three Gorges Corporation’s recent investment into UK offshore wind assets. Both countries agreed to support further Chinese investment into UK offshore wind farms and their supply chains, develop opportunities for UK companies to supply offshore wind projects in China, and explore turbine testing and demonstration projects in the UK.

52. Building on their experience in infrastructure financing, Chinese Institutional Investors, including the China Development Bank will promote China-UK cooperation in the clean energy and high speed railway sectors, including such projects as Hinkley Point C, the envisaged High Speed 2 phase 2b project, , and UK’s electric vehicle charging infrastructure fund.

V. Industrial Strategy

53. China welcomes the UK’s new Industrial Strategyand recognises the opportunities it presents for deeper UK-China economic partnership. Recognising the direct economic benefits of cooperation, shared global challenges, and opportunities to learn from one another’s experiences, both sides agree to build on these synergies and explore opportunities forcooperation across the five themes of the UK’s Industrial Strategy; Ideas, People, Infrastructure, Business Environment and Places.

54. Both sides welcome the achievements of the Ministerial Exchange between National Development and Reform Commission (NDRC) and the UK. The two sides held the sixth Ministerial Exchange in Beijing this December, and had in-depth exchanges on bilateral investment, regional cooperation and industry strategy.

55. Recognising the importance of international collaboration in research and innovation, both sides reaffirm their commitment to the UK-China Joint Strategy for Science, Technology and Innovation Cooperation launched on 6 December 2017 during the UK-China High Level People to People Dialogue. Both sides agree to further develop research and industrial cooperation. Building on the successful cooperation of 15academia-industrial projects under the Research and Innovation Bridges programme, both countries welcome the three competitions organised and funded by Innovate UK and Jiangsu, Shanghai and Guangdong which will promote innovation cooperation.

56. The UK and China also agree to cooperate and support the Jing-Jin-Ji integration project. Both sides welcome the progress made in 2017 through cooperation between Northeast and other old industrial bases of China and will further cooperate in 2018 to generate innovation-driven economic development and new momentum for development. Both sides will continue to support further discussion on renewal cooperation pilots and transformation of old industrial areas. Both sides will continue to promote the transformation of industrial cities in Northeast China, in particular through the development of the UK-China (Dalian) Advanced Manufacturing Zone, sharing best practice through capacity building measures and technical exchanges on innovation, vocational education and other topics.

57. The UK Department for Business Energy and Industrial Strategy (BEIS) and China’s Ministry of Industry and Information Technology (MIIT) agree to explore areas of collaboration in the UK’s Industrial Strategy and China Manufacturing 2025, encouraging exchanges and dialogues. BEIS and MIIT conducted a fruitful dialogue on Green Manufacturing Innovation in London in July and agreed to establish a mechanism to further identify opportunities for industry and research cooperation in this area.

58. The UK and China recognize the importance of working collaboratively in pursuing sustainable urbanization as an impetus to promote growth, tackle pollution, and improve the lives of ordinary citizens. We welcome and commit to support development of a set of activities to achieve that with support from funding schemes including the UK’s Multi-Year Prosperity Fund Programme in development.

We encourage cities, businesses, and research institutes to play a driving role in conducting these activities in the context of building longer term UK-China collaboration on smart green and inclusive future cities. We welcome deepened collaboration between China Centre for Urban Development and the Future Cities Catapult including through implementation of the MOU signed between them in March 2016.

59. The UK welcomes the advances in New Energy Vehicles (NEVs) and will continue to work collaboratively with Chinese manufacturers to design and develop NEVs for use in China and around the world to reduce the impact of Carbon emissions. Both sides agree to work collaboratively on Ultra Low Emission Vehicles (ULEV) technology, including through establishing an ongoing dialogue on achieving zero emission transport in both countries, investment in charging infrastructure, and through commitment to developing elements of the ULEV supply chain in the UK to facilitate the manufacture and supply of these vehicles. Both sides agree that particularly in the case of Small Volume Manufacturers (SVMs), access to markets should remain open and equal to all parties.

60. Both sides agree to further expand air traffic rights arrangements by increasing the capacity entitlement to 150 flights per week between China and UK.

61. Both sides agree to continuously guide and promote the China-UK space cooperation based on the MoU signed by the China National Space Administration (CNSA) and United Kingdom Space Agency (UKSA), and utilise the China-UK Space Science & Technology Joint Laboratory as a platform to drive bilateral cooperation. Both sides agree to facilitate a steering work-group as a first step to formulate the China-UK space cooperation topics for the following five years as a guideline for bilateral cooperation in the future.

62. Both sides support China and the UK space agencies to jointly support satellite application services for developing economies through examples such as the UK International Partnership Program (IPP).

63. Both sides acknowledge that enhanced cooperation in the field of space applications such as agriculture remote-sensing and air-quality monitoring, will be beneficial to accelerate applications of space science and technologies in the social-economic areas. Both sides agree to promote cooperation projects under the framework of the China-UK Newton Fund. Both sides support the cooperation in the field of space science and promote research institutes in both countries to implement the Solar Wind Magnetosphere Ionosphere Link Explorer (SMILE) mission under the framework of China-ESA space cooperation. Both sides appreciate the successful holding of the 2nd China-UK Summer School of Space Education and Research under the framework of China-UK Space Science & Technology Joint Laboratory, and congratulate on the establishment of the China-UK Space Education and Culture Centre in the 12th China-UK Workshop of Space Science and Technology.

64. The UK and China recognise the important role of intellectual property (IP) in promoting technological innovation, economic growth, trade and investment. Both sides will further deepen cooperation on IP, including:

i. Working together to provide better services for users of IP systems and the general public in both countries. Both sides agree to strengthen IP cooperation, and help companies from both countries to protect and enforce IP. Both sides recognise the success of the annual UK-China IP Symposium. The 2018 UK-China IP Symposium will be held in China and will further promote dialogue between businesses, researchers and policymakers from both countries.

ii. The UK and China agree to hold exchanges on improvements to the patent and design systems; IP in priority technology fields such as biotechnology/pharmaceuticals; and Patent Prosecution Highway (PPH) and other work sharing mechanisms which improve efficiency for British and Chinese applicants that use both countries' IP systems.

iii. The State Administration for Industry and Commerce (SAIC) and the UK Intellectual Property Office (IPO) will continue to implement their bilateral Framework for Cooperation on trade marks in 2018. Both sides will continue to exchange views on examination and enforcement of trademarks and geographical indications (GI). The UK and China will further exchange experience of how to maintain quality and consistency of examination, and on tackling bad-faith trade mark applications.

iv. Both sides attach importance to bilateral and multilateral copyright collaboration, and will continue to discuss and share information on issues of common concerns including copyright enforcement in the digital era and copyright collective management. Both sides recognise the potential to increase bilateral flows of copyright collective licensing royalties, and will support the development of collective licensing in China, and welcome further efforts to urge copyright owners and broadcasters to timely perform obligations in accordance with respective laws and regulations.

v. The UK and China will continue to strengthen cooperation on combating online piracy to better serve the rights holders from both countries. The two sides will further exchange experiences on online copyright protection, including initiatives with search engines and mobile applications.

vi. The UK and China welcome renewed UK-China industry initiatives on IP protection on e-commerce and social media platforms, and will continue to support these where appropriate, to achieve the shared goal of a more favourable IP environment which increases consumer confidence in e-commerce. In particular, the UK and China welcome efforts to develop SME-friendly notice-and-takedown mechanisms; more effective online protection for design rights; impactful preventative measures based on big data; and smoother links between on- and off-line enforcement. Both sides agree to further strengthen bilateral cooperation on cross-border law-enforcement cooperation and exchanges to combat online piracy and counterfeiting. A coordination meeting on cross-border enforcement will be held in early 2018.

65. The UK and China will build deeper collaboration in health sector. Both sides will:

i. continue to implement the China-UK MoU on Health Cooperation signed in 2016, prioritizing cooperation on health policy, medical science & research and global health. (NHFPC)

ii. continue to implement the China-UK Global Health Support Program and support the 2030 Sustainable Development Goals. Both sides will collaborate to improve global health governance and the response to health emergencies, and work to increase global capacity to contain the spread of infectious diseases through better surveillance and data sharing.

iii. welcome the Opinions on Deepening Review and Approval System Reform and Encouraging Drug and Medical Device Innovation issued by the Chinese side, including considering clinical trials data obtained in overseas multi-centres.

iv. continue to maintain and strengthen bilateral exchanges on alternative methods to animal testing, including its research, development, and validation. Both sides will communicate with each other about the research progress, policies and regulations and the development and application of related technologies and methods of alternative methods to animal testing through appropriate channels including personnel exchanges and trainings and welcome continued discussions on cosmetics safety risk assessment.

VI. Belt and Road Initiative and Cooperation in Third-party Markets

66. Both sides agree to strengthen cooperation on the Belt and Road Initiative on the basis of extensive consultation, joint contribution and shared benefits.UK welcomes the Belt and Road Forum for International Cooperation held in Beijing in May this year. The two sides look forward to strengthening official exchanges and dialogue on opportunities for further cooperation on the Belt and Road Initiative.

Both sides recognise the synergies between China’s and UK’s capabilities around the delivery of infrastructure, and agree to give full play to their respective strengths and utilise UK’s expertise in many areas, in particular in financing, public-private partnership, insurance, green finance and legal and professional advisory services for the successful plan and implementation of international infrastructure projects. Both sides will cooperate to promote outcomes which are commercially, environmentally and socially sustainable.

Both sides will enhance concrete cooperation in areas such as infrastructure connectivity, and equipment manufacturing, finance, investment, and explore cooperation in third-party markets along the Belt and Road routes in order to foster positive and sustainable trade, and economic development and security outcomes under the framework of the China-UK global comprehensive strategic partnership for the 21st century.

67. Based on the principle of achieving shared growth through discussion and collaboration, both sides agree to implement the "Belt and Road Financing Guiding Principle" and promote cooperation on investment and financing under the Belt and Road Initiative.

i. Both sides agree to encourage the development and policy financial institutions to play an active role, and to jointly promote China Development Bank, Export-Import Bank of China, Silk Road Fund, and the Department for International Development of UK to strengthen cooperation on development financing.

ii. Both sides encourage financial institutions in the UK and China to explore commercial opportunities associated with the Belt and Road Initiative. Both sides welcome financial centres in both countries, including the City of London, Shanghai and Hong Kong, to play an active role in the Belt and Road Initiative.

iii. Both sides agree to support companies of both countries to cooperate in third-country markets under the Belt and Road Initiative, and to share experiences. Both sides welcome China Africa Development Fund (CADF)and the Department for International Development of UK (DFID) to hold the China-Africa-UK Investment Forum jointly with China Council for the Promotion of International Trade (CCPIT) and International Trade Centre (ITC) in the last quarter of 2018 in China.

iv. Both sides agree to encourage private investment in supporting the Belt and Road Initiative. Both sides agree to jointly conduct a research and feasibility study on a mechanism to help attract private capital investment into the Belt and Road.

v. Both sides agree to encourage greater UK-China business to business engagement and encourage respective Embassies, commercial sections and business organizations to promote trilateral cooperation.

vi. As agreed in the "Belt and Road Financing Guiding Principle", both sides underscore the need to strengthen the social and environmental impact assessment and risk management of projects, improve cooperation on energy conservation and environmental protection, fulfill social responsibilities, promote local employment and ensure sustainable economic and social development. Debt sustainability will also be taken into consideration in mobilizing finance.

68. Both sides agree to deepen cooperation on the Belt and Road project identification, research and capacity building.

i. Both sides continue to recognise the synergies between China’s Belt and Road Initiative and UK’s regional development strategies including the Northern Powerhouse and commit to work together to strengthen policy and projects collaboration.

ii. The two sides will jointly identify the Belt and Road pilot projects and establish a mechanism to facilitate joint identification and evaluation of potential pilot projects in order to deliver concrete UK-China cooperation on Belt and Road infrastructure projects.

iii. Both sides agree to conduct the Belt and Road research programmes, jointly and individually, and to exchange and share research results. The two sides will conduct research on the mechanism, approach, and selection criteria of pilot projects forthe Belt and Road project cooperation, focusing on major areas that the two sides can complement each other with their respective strength. The two sides will conduct policy research and capacity building on areas including project preparation, financing, risk management, standards to support the implementation of Belt and Road projects.

69. China welcomes the announcement by UK Export Finance (UKEF) that it has capacity to support up to ?25bn of new business in support of projects along the Belt and Road in Asia. Both sides welcome further work between UKEF, Sinosure and other export agencies to consider and develop coinsurance or reinsurance structures for projects involving exporters from both countries. UKEF welcomes the opportunity to support potential investments by UK companies in the Belt and Road through Overseas Investment Insurance. Being an official export credit agency, the Export-Import Bank of China has long been dedicated to financing projects in infrastructure, energy, manufacturing and industrial capacity and can actively support cooperation in the international markets by companies of both sides in the future.

70. Both sides welcome the proposal for a bi-lateral UK-China investment fund with an initial round of $1 billion USD. The Fund will be led by a number of institutions in the UK and China, with the involvement of former Prime Minister, The Rt Hon David Cameron, and will be established and operated on a commercial and market-orientated basis. It will invest in innovative, sustainable and consumption-driven growth opportunities in the UK, China and third markets to create employment and boost trade links, supporting the Belt and Road Initiative.

71. Both parties encourage China Development Bank and the UK side to discuss the possibility of establishing investment funds to better promote the exchanges and cooperation between Chinese and British companies.

72. UK private sector organisations including the City of London, China Britain Business Council, City UK and London & Partners will host a Belt and Road Forum in the UK in 2018 to profile the UK’s expertise as a global leader in infrastructure project structuring and financing for Belt and Road projects, and welcome the China side to participate.