UK targets services exports in China trade talks

UK targets services exports in China trade talks
UK targets services exports in China trade talks
-
Cooperation with China to increase exports already showing results as iconic British brands like Barclays and Formula E expanding in the Chinese market
-
200 UK and Chinese businesses to meet and deepen trade ties
-
New ‘Trade Booster’ will increase routes for UK SMEs to export to China
UK exporters are set for a major boost as the country welcomes a delegation of Chinese business leaders to open new markets and deepen commercial ties.
Government and business leaders from both nations will come together to strengthen ties and increase growth as UK Trade Secretary Peter Kyle and China’s Minister of Commerce Wang Wentao chair the 15th UK–China Joint Economic and Trade Commission (JETCO) tomorrow (July 2), at Mansion House.
Building on the success of the Prime Minister’s visit to China earlier this year, the JETCO will support UK firms in high-value sectors from life sciences to professional and business services to increase trade with China.
The UK will continue to engage with China where there are clear opportunities to co-operate and increase trade and investment ties, whilst continuing to challenge where needed to protect the UK’s national security.
Despite the UK being the second-largest exporter of services in the world, China ranks as our 9th largest service export destination, showing the massive untapped potential for our world-leading service sector.
Trade Secretary Peter Kyle said:
The UK is a services superpower, and I want us to turbocharge our services exports and get more British engineers, architects, and accountants exporting their skills to China.
We need to be even more ambitious to promote secure and resilient growth for the next generation amidst a backdrop of global uncertainty.
Ahead of the JETCO, around 200 UK and Chinese businesses representing some of the most innovative brands in the world will showcase the strong appetite for deeper commercial links as part of a landmark new Export to China event. Ranging from Brompton Bikes and HSBC to Clifford Chance on the UK side and big Chinese names JD.com and ICBC.
New commercial wins between both countries have also been delivered including:
-
Formula E increasing commercial partnerships in China
-
Barclays’ Panda Bond issuances mark the first entry by a UK-incorporated bank into China’s domestic bond market.
-
The Chartered Institute of Management Accountants (CIMA) working with the Chinese government to advance the mutual recognition of its qualifications.
-
The Royal College of Surgeons of England (RCS) are partnering with multiple healthcare institutions in China to boost surgical, educational, and training standards.
-
Life Sciences and textile company Intelligent Fabric Technologies establishing operations in Hong Kong and Shanghai to commercialise its patented DreamSkin technology in clothing for sensitive and ageing skin.
The visit also marks the launch of “Trade Booster”, an initiative led by the China-Britain Business Council (CBBC), HSBC, ICBC and JD.com to help UK businesses expand exports to China by providing practical and targeted support to succeed in the world’s second-largest consumer market.
There are vast opportunities for UK goods exporters in China and this booster gives SMEs a new mechanism to scale up.
Meanwhile, the UK-China Professional and Business Services Matchmaking platform has been established to connect major Chinese companies to leading UK services companies to support them in raising capital and investing overseas.
Stuart Tait, Head of Commercial Banking, HSBC UK said:
UK exporters are a vital engine of growth, jobs and innovation. Today’s announcement is a welcome step, building on the Prime Minister’s visit to China in January, to help more businesses take their products and services to customers in new markets.
HSBC UK is pleased therefore to partner with the UK-to-China Export Booster, helping more businesses to trade with the world’s second-largest economy. We are committed to supporting ongoing work to strengthen services trade, which will bring significant opportunities to both economies.
Will Butler-Adams FREng, OBE, CEO of Brompton Bikes said:
Brompton has been exporting to China for nearly twenty years, beginning with a small team but a big belief that Brompton was relevant to cities across China and that we could help transform cities to become cleaner, healthier and happier.
We now have over sixty stores selling our bikes across China, and a wonderful community encouraging an active lifestyle. From the first days we have had fun, and have built great friendships, learnt about the rich Chinese culture and enjoyed wonderful regional food! We have worked hard but enjoyed every step of the way.
Sir Sebastian Wood KCMG, Chair of the China-Britain Business Council said:
The China-Britain Business Council welcomes the visit of Chinese Minister of Commerce Wang Wentao to the United Kingdom for the 2026 Joint Economic and Trade Commission. We have been honoured to support the visit, including the co-organisation of the Export to China: Big Market for All event on July 1, to take place alongside JETCO.
China, including Hong Kong, is equivalent to the UK’s third largest trading partner, and with total trade reaching £135 billion in 2025, an increase of 5.6% from the previous year. Across the same period, our services exports reached £21 billion, indicating the strong momentum that exists in our trade relationship. We look forward to building on the visit to demystify the China opportunity and support UK businesses in tapping the vast opportunities available through deepened trade with China.
Officials this week also met for discussions on a Joint Feasibility Study to explore a bilateral Trade in Services Agreement which would open up the Chinese market further to the UK’s world-leading services sector.
This underlines the Government’s commitment to a pragmatic, business-focused relationship with China which supports jobs, drives growth, and promotes the UK as a leading destination for investment.
Notes to Editors
Further information on commercial deals:
Formula E: This year Formula E has secured partnerships with Chinese brands across a range of categories - including Lenovo, to create immersive fan experiences - while further expanding their race calendar to become the first global motorsport series to race in two cities across China, in Sanya and Shanghai. Establishing a solid foundation for further growth over the next three to five years.
Barclays’ Panda Bond issuances mark the first entry by a UK-incorporated bank into China’s domestic bond market. Across three issuances between November 2025 and January and June of 2026, the bank raised RMB 10.5 billion through multiple dual-tranche structures, demonstrating the integration of RMB into global funding strategies.
The Chartered Institute of Management Accountants partners with Chinese government bodies at ministerial and municipal levels—including in Beijing and Shanghai—to advance mutual recognition of its qualifications, while also collaborating with enterprises like Lenovo and institutions such as Tsinghua University to boost nationwide adoption of its Digital Management Accounting (DMA) diploma and CGMA designation. These efforts are projected to generate up to £50m in revenue over the next five years.
The Royal College of Surgeons of England’s (RCS England) ranging partnership with China includes accreditation of local surgical education and training, engagement with surgical communities across China, and hosting prominent Chinese surgeons across different surgical and dental specialities in London at the College.
Intelligent Fabric Technologies Limited has expanded its commercial presence in Greater China through newly established operations in Hong Kong and Shanghai. The expansion supports the introduction of IFT’s DreamSkin technology to the Chinese market, building on more than 10 years of UK sales of its children’s eczema garments, which are registered in the UK as a Class I medical device. Alongside its established children’s eczema garment range, IFT has developed a new adult biomimetic skinwear collection designed for sensitive and ageing skin. The adult range was recently showcased at ChinaAid 2026 in Shanghai, where it attracted strong interest from senior care, rehabilitation and health-sector audiences.
Statistical sources:
UK second-largest services exporter: GoodsAndServicesBpm6
China as ninth-largest destination for UK services exports: UK total trade: all countries, seasonally adjusted - Office for National Statistics
World’s second-largest economy: WEO
Trade statistics: UK total trade: all countries, seasonally adjusted - Office for National Statistics