(11 Jan 2025)
RESTRICTION SUMMARY:
AGENCY POOL
Beijing – 11 January 2025
1. Mid of U.K. treasury chief Rachel Reeves getting out of car
2. Wide of Reeves
3. Close of Reeves
4. Mid of Reeves lifting bike at Brompton store
5. SOUNDBITE (English) Rachel Reeves, U.K. Treasury Chief:
“Growth is the number one mission of this Labour government and to grow the economy, we need to help great British businesses export around the world like Brompton Bikes are doing here. And that’s why I’ve got with me a delegation of senior UK finance bosses to unlock tangible benefits to help British businesses export and trade with the second largest economy in the world and always doing that in the UK’s national interest.”
6. Various mid of Reeves
7. Wide of Reeves sitting and speaking
8. SOUNDBITE (English) Rachel Reeves, U.K. Treasury Chief:
“The United States is our single biggest export market, and China is our fourth biggest export market. We want to improve our trading relations with countries around the world. We did that when Donald Trump was last president of the United States and I’ve no doubt that our trading relationship as well as our special relationship with the United States will continue to go from strength to strength.”
9. Various mid of Reeves walking and talking
10. SOUNDBITE (English) Rachel Reeves, U.K. Treasury Chief:
“National security is the foundation of what any government acting in the national interest will prioritize, but we need to make sure that we have a pragmatic and good relations with countries around the world. That’s in our national interest. It is what our allies and our competitors around the world do and it’s what I will be pursuing as chancellor, always acting in the national interest but helping great British businesses looking to export and grow their markets overseas. And that’s why I’m in China with some of the leaders of financial services firms in the UK and also meeting businesses right across the economy who already operate in China to help them to grow their business and help other businesses looking to expand their markets too.”
11. Wide of Reeves shaking hands
12. Wide of Reeves leaving store
STORYLINE:
Britain’s Treasury chief travelled to China this weekend in a bid to boost economic and financial cooperation between the countries, as the U.K.’s Labour government seeks to reset strained ties with Beijing.
A focus of Reeves’ trip is reviving the China-U.K. Economic and Financial Dialogue — annual bilateral talks that have been suspended since 2019 due to the COVID-19 pandemic and deteriorating relations in recent years.
Talks were shelved following a series of spying allegations from both sides, China’s support for Russia in the Ukraine war and a crackdown on civil liberties in Hong Kong.
Reeves visited bicycle maker Brompton in Beijing and is expected to visit other leading U.K. brands operating in China, including Jaguar Land Rover and whisky distributor Diageo.
The British side wants the dialogue to help bring down barriers that U.K. businesses face when looking to export or expand to China.
Reeves will also urge Beijing to stop its material and economic support for the Russian war effort in Ukraine and raise the issue of rights and freedoms in Hong Kong.
The delegation will include Bank of England Governor Andrew Bailey and the CEOs of the U.K. Financial Conduct Authority and the London Stock Exchange Group.
Senior executives from some of Britain’s biggest financial services firms, including the group chairmen of HSBC and Standard Chartered, were also on board.
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