It was a pleasure to welcome DDG Wang Bo and colleagues from MOFCOM’s Trade in Services and Commercial Services team for an engaging discussion on UK–China services cooperation earlier this month.

As China’s economy continues to evolve, household spending is increasingly shifting towards services. At the same time, the continued internationalisation of Chinese companies is creating greater demand for expertise that can help them operate effectively across international markets and meet global standards. Together, these trends present significant opportunities for UK services providers, not only in China, but also in third markets where many UK firms have a strong and established presence.

Following our discussion, CBBC also participated in the 3rd UK-China Services Working Group. Convened by BIST and MOFCOM, and joined by a number of UK and Chinese businesses, the meeting provided an opportunity to discuss practical steps to deepen services trade and cooperation. Participants raised a number of priorities, including the mutual recognition of professional qualifications, greater market access for UK services providers (especially legal and ESG related services), IP protection and improved staff mobility.

There is considerable scope to deepen UK–China cooperation in services, and continued dialogue between government and business will be important in turning that potential into practical commercial opportunities.