By Matt Falloon
LONDON, May 10 (Reuters) - Britain will seek to build stronger trade and financial ties with China and push forward G20 pledges at a bilateral economic summit in London, British finance minister Alistair Darling said on Sunday.
In an article in Monday's edition of The Times newspaper, Darling will say the countries' 'joint determination to respond to the global downturn must go hand in hand with efforts to expand the many links between our economies,' according to an advance copy.
Darling wants access to China's stock markets for British firms and will look to expand existing co-operation on the development of China's capital markets to other financial areas.
'We must expand our program of technical collaboration and exchange -- so that those in the financial services industry, as well as regulators and central bankers -- can learn from each other,' he will say.
Britain has also been seeking to ensure agreements reached at the April G20 summit in London to support growth and bolster the International Monetary Fund are honored swiftly.
'We both recognize that it is a moral imperative, as well as in our economic interest, to act,' Darling said.
Mired in what could turn out to be the worst recession since World War Two, Britain has been trying to put the building blocks of recovery in place.
British policymakers regard working with swiftly-emerging economies, such as China and India, as key to restoring growth and stability to the domestic economy.
Britain and China are working toward a bilateral trade target of $60 billion by 2010 and government sources said one key focus on Monday would focus on emissions reductions and tapping into British low-carbon technologies.
Other areas of the Chinese economy where Britain hopes to capitalize on include aerospace, biological technology, pharmaceuticals and advanced manufacturing.
'The meeting is all about seizing the opportunity to create jobs and growth by being the best at doing business with China,' a source said. 'Everyone wants to do business with China.'
Talks have also been progressing this weekend to help Chinese firms list on British stock markets toward a UK government target of 100 firms by 2010 from about 70 currently, sources said.
China's Vice Premier Wang Qishan is leading a 60-strong delegation to Britain to follow up on an economic summit in Beijing last year.
The delegation will also meet with Britain's business minister Peter Mandelson, energy minister Ed Miliband and Financial Services Authority chairman Adair Turner. Keywords: BRITAIN CHINA/DARLING (UK Economics desk, e-mail: uk.economics@reuters.com; +44-207-542-1894) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
LONDON, May 10 (Reuters) - Britain will seek to build stronger trade and financial ties with China and push forward G20 pledges at a bilateral economic summit in London, British finance minister Alistair Darling said on Sunday.
In an article in Monday's edition of The Times newspaper, Darling will say the countries' 'joint determination to respond to the global downturn must go hand in hand with efforts to expand the many links between our economies,' according to an advance copy.
Darling wants access to China's stock markets for British firms and will look to expand existing co-operation on the development of China's capital markets to other financial areas.
'We must expand our program of technical collaboration and exchange -- so that those in the financial services industry, as well as regulators and central bankers -- can learn from each other,' he will say.
Britain has also been seeking to ensure agreements reached at the April G20 summit in London to support growth and bolster the International Monetary Fund are honored swiftly.
'We both recognize that it is a moral imperative, as well as in our economic interest, to act,' Darling said.
Mired in what could turn out to be the worst recession since World War Two, Britain has been trying to put the building blocks of recovery in place.
British policymakers regard working with swiftly-emerging economies, such as China and India, as key to restoring growth and stability to the domestic economy.
Britain and China are working toward a bilateral trade target of $60 billion by 2010 and government sources said one key focus on Monday would focus on emissions reductions and tapping into British low-carbon technologies.
Other areas of the Chinese economy where Britain hopes to capitalize on include aerospace, biological technology, pharmaceuticals and advanced manufacturing.
'The meeting is all about seizing the opportunity to create jobs and growth by being the best at doing business with China,' a source said. 'Everyone wants to do business with China.'
Talks have also been progressing this weekend to help Chinese firms list on British stock markets toward a UK government target of 100 firms by 2010 from about 70 currently, sources said.
China's Vice Premier Wang Qishan is leading a 60-strong delegation to Britain to follow up on an economic summit in Beijing last year.
The delegation will also meet with Britain's business minister Peter Mandelson, energy minister Ed Miliband and Financial Services Authority chairman Adair Turner. Keywords: BRITAIN CHINA/DARLING (UK Economics desk, e-mail: uk.economics@reuters.com; +44-207-542-1894) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.