The Lord Mayor of London is to guide the primary City delegation to China because the Covid pandemic, at the same time as tensions stay in Westminster about Britain’s relations with the world’s second-largest financial system.
Sky News has learnt that Nicholas Lyons, the present occupant of the function, and Chris Hayward, the City of London Corporation’s coverage chairman, will journey to Beijing and different main cities later this month for talks with officers and companies.
Sources stated that discussions would concentrate on key City strengths equivalent to local weather change financing.
The journey – the primary of its type since 2019 – will come amid stuttering buying and selling ties between the UK and China after a interval by which the 2 governments’ relationship has cooled significantly.
Beijing’s stance on Russia’s struggle towards Ukraine and rising issues that China is making ready to invade Taiwan have fuelled worldwide tensions through the previous yr.
A City of London Corporation spokesperson stated: “The City Corporation engages with all key international markets including China. This visit will be crucial in driving forward our climate action goals and supporting the global economy with the transition to net-zero. As the world’s largest producer of carbon emissions any discussion on climate change must include China.”
In latest days, Lord Johnson, the funding minister, has been criticised by Conservative MPs over a go to to Hong Kong throughout which he was as a consequence of talk about fintech and different trade-related points with metropolis officers.
Iain Duncan Smith, the previous Tory chief and long-time China hawk, referred to as Rishi Sunak’s choice to ship Lord Johnson to the previous British colony “shameful”.
An annual discussion board referred to as the UK-China Economic and Financial Dialogue has didn’t happen in recent times, partly due to the pandemic but in addition owing to frostier relations between the nations.
City executives have expressed hope that it could possibly be reinstated this yr, though any potential preparations haven’t been made public.
Source: information.sky.com”