00:00It's the first time a senior government minister, apart from a foreign secretary,
00:05has been to China for some time. It represents the end of what I think must have looked like
00:13a hiatus in terms of the relationship. And of course to have the Chancellor of the Exchequer
00:17go there relatively soon after delivering a British budget is, I think, of profound importance.
00:25This is, of course, a new government. The new government shows every sign of wanting a pragmatic
00:32and developing relationship with China. So I think this is of significance of a very high order.
00:39The so-called golden age of UK-China relations, once heralded by UK Prime Minister David Cameron,
00:46was of course brought to a close by UK Prime Minister Rishi Sunak back in
00:522022. Where is this UK-China relationship now, would you say?
00:58Well, I'm not sure I think that labels are terribly helpful. So
01:02calling this a renewal of the golden era, I think, is not quite the point.
01:06The point is, I think, that both sides recognise the need for a pragmatic relationship in the
01:11context of a complicated geopolitical scene globally. We are two weeks away or so from
01:18a new American administration that's going to affect all of us. This is a complicated world
01:25and the relationship between Britain and China is a complicated one. There's
01:29history, of course, that we all have to recognise. But looking at now and going forwards,
01:36the important point is that these are both countries with important interests on the world
01:40stage and with a real need to benefit from the trade and investment opportunities that
01:46flow from a good commercial relationship.
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