UK-CHINA TRADE

That this House welcomes the visit to Britain by Premier Wen Jiabao in June 2011; notes the important trade and cultural links between the UK and the People's Republic of China and supports the British Prime Minister's assertion that trade with China represents `a huge opportunity' for the UK; further welcomes the announcement of $2.2 billion of trade deals between British companies and China and the Prime Minister's goal of expanding trade from $63 billion in 2010 to $100 billion by 2015; further notes that Britain's comparatively weak trade relations with China were highlighted later in the week of the visit when Germany announced trade deals with China worth $15 billion and targeted an increase of annual bilateral trade from $189 billion in 2010 to $290 billion by 2015; further notes that, on the basis of the latest published figures, there is a 17 billion trade deficit between the UK and China, which is by far the UK's biggest deficit with any trading partner, and therefore while congratulating the Government on the signing of the agreements, suggests that there is significant room for improvement; and calls on the Government to work towards a broad enhancement of the UK's relationship with China in order to build a stronger, balanced partnership that offers healthier economic prospects for both nations and allows for open and constructive dialogue.