BEIJING: British finance minister Rachel Reeves said on Saturday during a visit to Beijing that she intended to have “pragmatic” relations with Chinese leaders to boost exports to the world’s second-largest economy.
Under pressure from market turmoil at home, Reeves is seeking to revive high-level economic and financial talks that have been frozen since 2019.
She joins the UK-China Economic and Financial Dialogue meeting in Beijing with Chinese Vice Premier He Lifeng on Saturday, before traveling to Shanghai, accompanied by Bank of England Governor Andrew Bailey and other finance leaders.
She is due to discuss financial services, trading ties and the importance of cooperation on issues like climate change, the Treasury said.
Her appearance offers a chance to persuade investors that she has plans to deal with a sharp increase in British government borrowing costs, due in part to a global bond selloff which threatens to derail her budget plans.
“The fiscal rules that I set out in my budget in October are non-negotiable and growth is the number one mission of this government to make our country better off,” Reeves told reporters after visiting a Brompton bicycles shop in Beijing.
“That’s why I’m in China to unlock tangible benefits for British businesses exporting and trading around the world to ensure that we have greater access to the second-largest economy in the world.”
Reeves’ visit follows a dialogue opened last year between Prime Minister Keir Starmer and President Xi Jinping, the first between the two countries’ leaders since 2018.
The approach taken by the Labour government, elected in July, contrasts with the previous Conservative administration which took a robust approach to differences with China — particularly over human rights, Hong Kong and allegations of Chinese espionage.
Asked on Thursday if Reeves would raise human-rights issues, Starmer’s spokesperson said her visit would fit with London’s stance that it would take a strategic approach to China and challenge it “robustly” when necessary.
Starmer has long described his desire to build a relationship with China that is “rooted in the UK’s national interests” by boosting trade, a task that may become more difficult if US President-elect Donald Trump follows through on his threat to impose tariffs on all imports.
Asked whether Britain would follow Washington and Brussels in imposing tariffs on Chinese electric vehicles, Reeves said: “We keep issues under review but we make decisions in our national interest.”
British car manufacturers “like Jaguar and Land Rover export substantially to Chinese markets, and we want to help them to grow.”
China is Britain’s fourth-largest trading partner, accounting for goods and services trade worth almost 113 billion pounds ($138 billion).

COPENHAGEN, Denmark: Greenland’s prime minister said Friday that the mineral-rich Arctic territory’s people don’t want to be Americans, but that he understands US President-elect Donald Trump’s interest in the island given its strategic location and he’s open to greater cooperation with Washington.
The comments from the Greenlandic leader, Múte B. Egede, came after Trump said earlier this week that he wouldn’t rule out using force or economic pressure in order to make Greenland — a semiautonomous territory of Denmark — a part of the United States. Trump said that it was a matter of national security for the US.
Egede acknowledged that Greenland is part of the North American continent, and “a place that the Americans see as part of their world.” He said he hasn’t spoken to Trump, but that he’s open to discussions about what “unites us.”
“Cooperation is about dialogue. Cooperation means that you will work toward solutions,” he said.
Egede has been calling for independence for Greenland, casting Denmark as a colonial power that hasn’t always treated the Indigenous Inuit population well.
“Greenland is for the Greenlandic people. We do not want to be Danish, we do not want to be American. We want to be Greenlandic,” he said at a news conference alongside Danish Prime Minister Mette Frederiksen in Copenhagen.

Trump’s desire for Greenland has sparked anxiety in Denmark as well as across Europe. The United States is a strong ally of 27-nation European Union and the leading member of the NATO alliance, and many Europeans were shocked by the suggestion that an incoming US leader could even consider using force against an ally.

But Frederiksen said that she sees a positive aspect in the discussion.
“The debate on Greenlandic independence and the latest announcements from the US show us the large interest in Greenland,” she said. “Events which set in motion a lot of thoughts and feelings with many in Greenland and Denmark.”
“The US is our closest ally, and we will do everything to continue a strong cooperation,” she said.
Frederiksen and Egede spoke to journalists after a biannual assembly of Denmark and two territories of its kingdom, Greenland and the Faroe Islands. The meeting had been previously scheduled and wasn’t called in response to Trump’s recent remarks. Trump’s eldest son also made a visit to Greenland on Tuesday, landing in a plane emblazoned with the word TRUMP and handing out Make America Great Again caps to locals.

The Danish public broadcaster, DR, reported Friday that Trump’s team encouraged homeless and socially disadvantaged people in Greenland to appear in a video wearing the MAGA hats after being offered a free meal in a nice restaurant. The report quoted a local resident, Tom Amtof, who recognized some of those in a video broadcast by Trump’s team.
“They are being bribed, and it is deeply distasteful,” he said.
Greenland has a population of 57,000. But it’s a vast territory possessing natural resources that include oil, gas, and rare earth elements, which are expected to become more accessible as ice melts because of climate change. It also has a key strategic location in the Arctic, where Russia, China and others are seeking to expand their footprint.
Greenland, the world’s largest island, lies closer to the North American mainland than to Denmark. While Copenhagen is responsible for its foreign affairs and defense, the US also shares responsibility for Greenland’s defense and operates an air force base there based on a 1951 treaty.