China, UK deepen cooperation in joint declaration
China and Britain have issued a joint declaration that covers a wide range of priorities and aims to deepen the cooperation between the two countries. The declaration follows many mammoth deals that have been signed during Chinese President Xi Jinping's ongoing visit to the UK.
A joint declaration to build a "global comprehensive strategic partnership for the 21st Century."
China and Britain have pledged to support a feasibility study for a plan to connect their stock exchanges in London and Shanghai. The two countries also agreed to establish a high-level security dialogue to strengthen cooperation on issues including cyber crime.
They will also join hands to crack down on cyber-enabled theft of intellectual property, trade secrets and confidential business information.
Britain says it supports the inclusion of the Chinese yuan in the International Monetary Fund's Special Drawing Rights basket, as long as it meets the existing criteria in the IMF's upcoming review.
Both countries also are urging members who have yet to ratify the 2010 quota and governance reforms of the IMF to do so without delay in order to give emerging and developing countries a greater say. And they called for the swift launch of a joint feasibility study for a China-EU Free Trade Agreement.
The declaration follows deals signed between the two sides to boost trade and investment.
An investment agreement was signed on Wednesday to allow Chinese and French companies to build a British nuclear power plant at Hinkley Point in southwestern England.
China's central bank issued its first offshore Renminbi note in London. That was the first time a Renminbi note has been issued outside China. The central bank also announced the extension of an agreement of a currency swap plan with the Bank of England. The maximum value of the swap was expanded to 55 billion US dollars, valid for three years and can be extended upon agreement.
To boost tourism, the UK will start issuing a two-year multiple-entry visa for Chinese tourists beginning in 2016. The new visa fee will be 130 US dollars, which is the same price now as a six-month tourist visa.
The Chinese company SinoFortone Group has pledged to invest 156 million US dollars in the London Paramount Entertainment Resort, a new theme park in Kent County that's expected to open in 2021.
