Belfast trade forum signals new dawn in China-UK economic ties amid cautious diplomacy

The upcoming Belfast trade forum aims to strengthen economic links between China and the UK, offering new opportunities for Northern Ireland businesses amidst a backdrop of cautious diplomatic engagement and renewed high-level talks.

China’s Consul General in Belfast, Li Nan, has emphasised the significance of an upcoming major trade forum in Belfast as a pivotal opportunity to foster “a future of shared prosperity” between Northern Ireland and China. The event, s...

cheduled for November 11, is co-hosted by the Chinese consulate, Invest NI, and the China Chamber of Commerce in London, and is expected to draw over 300 senior government officials and business leaders. According to Li Nan, the forum aims to enhance bilateral trade in sectors such as manufacturing, agri-food, financial services, and renewable energy.

Li Nan highlighted China’s growing middle-income population, which currently stands at 400 million and is projected to double shortly. This demographic shift presents considerable business opportunities for Northern Ireland companies keen to expand their markets. Despite ongoing developments, Li Nan acknowledged that Northern Ireland remains relatively under-recognised within Chinese business circles, including among large companies operating in London. He described the region as “small and beautiful” with unique advantages, such as dual market access and a highly educated workforce, making it an attractive destination for Chinese investment.

The forum takes place amid a backdrop of cautious diplomatic and economic relations between China, the UK, and the United States. Li Nan addressed recent tensions, including the UK’s allegations regarding national security concerns and human rights issues, which have complicated the bilateral relationship in recent years. However, he welcomed the “pragmatic approach” of the current UK government under Prime Minister Rishi Sunak and Chancellor Jeremy Hunt, contrasting it with previous difficulties.

Li Nan defended China’s human rights record, pointing to the lifting of 800 million people out of poverty since 1949, alongside major improvements in life expectancy and literacy rates. He emphasised that China’s political system is informed by its unique history and culture, and declined the notion that modern societies must conform to Western political models. The Consul General advocated for constructive dialogue between China and the UK while cautioning against what he described as “unfounded criticism or even slandering.”

The international context was further addressed by acknowledging recent efforts to ease US-China trade tensions. Following a high-profile meeting between former U.S. President Donald Trump and Chinese President Xi Jinping in South Korea, Li Nan noted a temporary calming of trade hostilities, though he remained cautious about future developments. He stressed that China does not seek trade wars but remains prepared for any eventuality.

China-UK economic relations have seen renewed engagement in recent months. After a six-year hiatus, high-level economic and financial talks between the two countries were revived, with UK Treasury Chief Rachel Reeves visiting Beijing to resume discussions focusing on trade barriers, sustainable finance, capital markets connectivity, and investment cooperation. This dialogue aims to improve market access and regulatory alignment, signalling a thaw in strained relations following years of suspension.

Further boosting prospects for collaboration, Chinese Vice Premier Ding Xuexiang recently expressed willingness to cooperate with the UK on green and low-carbon development projects, as well as on broader trade and investment issues. Speaking during a meeting with British Energy Secretary Ed Miliband in Beijing, Ding emphasised the mutual benefits of a stable China-UK relationship to address global environmental and economic challenges.

At the same time, UK Finance Minister Rachel Reeves has called for a “hard-headed” and “realist” approach to China-UK relations to expand trade opportunities while protecting national security interests. Reeves highlighted how the United States has successfully increased exports to China by maintaining a firm stance on economic and trade practices. The UK government, now under Labour leadership since July, is conducting a comprehensive audit of its China policy, aiming to clarify its position on Chinese investments, accepting those in low-risk sectors while maintaining vigilance on security matters. China remains the UK’s sixth-largest trading partner, accounting for about 5% of trade in goods and services.

The Chinese consulate in Belfast underscores that the November trade forum is a valuable occasion for Northern Irish businesses to establish connections with major Chinese firms, promoting mutual understanding, trust, and new avenues of cooperation. As China’s economic influence continues to grow, and as the UK recalibrates its relationship with Beijing, such events may play a crucial role in shaping future commercial and diplomatic engagement across these regions.

Source: Noah Wire Services