China's largest retailer JD.com announced plans to sell £2billion-worth of UK goods to Chinese consumers in next two years
THERESA May hailed a historic ‘first step’ towards a Brexit trade deal with China after crunch talks with the nation’s President.
Downing Street revealed the two countries had agreed a groundbreaking trade and investment review to study the best model for a bumper agreement and look at what tariffs and barriers can be taken down.
The PM said this was a “first step towards delivering ambitious future trade arrangements”.
It came as Chinese President Xi Jinping quoted Shakespeare to promise deeper links between the UK and the world’s second biggest economy. Citing The Tempest, he said: “What’s past is prologue.”
And he reiterated China’s desire to open up to the UK in areas such as beef, dairy and other agricultural goods.
A British source said: “This is the world’s fastest growing economy making it clear it’s very much open for British business and wants to get things done.”
China's largest retailer JD.com announced plans to sell £2billion-worth of UK goods to Chinese consumers - from Dyson to Johnnie Walker - in the next two to three years.
UK China trade is currently worth £59billion a year.
During an 80 minute summit, the PM also warned President Xi that the UK and China had a “shared global responsibility” to tackle the scourge of plastic pollution.
And both vowed to work to ensure the “de-nuclearisation” of North Korea by enforcing strict sanctions approved by the UN just weeks ago.
The trade boost follows claims Theresa May had jeopardised the “golden era” between the UK and China fostered by David Cameron.
She incensed Beijing two years ago by threatening to block Chinese investment in the Hinkley Point nuclear plant.
And the UK has yet to formally support China’s controversial Belt and Road Initiative - an infrastructure investment programme across Asia and Eastern Europe.
Downing Street said the two leaders agreed to hold more talks on the plan.
