On 11 January 2025, HM Treasury (HMT) and the Chancellor of the Exchequer, Rachel Reeves, published the policy outcomes from the 2025 UK-China Economic and Financial Dialogue.

In a related press release, HMT explains that the aim of the dialogue was to support a stable and balanced UK-China relationship. During the discussion, both sides agreed to deeper cooperation across areas such as financial services, trade, investment and the climate with the aim of supporting secure growth, while being ‘frank and open’ on areas of disagreement.

Areas covered in the policy outcomes document include:

  • Financial reform and financial market development.
  • Financial regulatory cooperation.
  • Capital markets – including initiatives to improve capital market connectivity, such as a commitment to further enhance the UK-China Stock Connect and welcoming the launch of UK-China over-the-counter bond business.
  • Asset management – the UK and China plan to explore a Wealth Connect programme in recognition of the role asset management has to play in supporting growth.
  • Insurance and pensions.
  • Green finance and biodiversity finance – including plans announced by China to issue an inaugural overseas sovereign green bond, to be used to finance environmentally sustainable projects, in London during 2025.
  • People-to-people financial links.
  • Macroeconomic policy, multilateral cooperation and the global economy.
  • Trade, investment, agriculture and industrial cooperation.
  • Dialogues and technical exchanges.
  • Climate and energy – the UK and China agreed to further cooperation including through strengthening the existing UK-China clean energy partnership.