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ties brought by the BRI, which by some estimates could be worth 1.8 billion pounds ($2.33 billion) annually to the British economy.
As a financial hub for international infrastructure investmen
t, British firms and international companies based in the UK stand ready to provide many of the ser
vices required along the Belt and Road, especially as it becomes more of a shared venture, she said.
They can also provide private financing required by the project and support thro
ugh green finance, consultancy, rule of law and foreign exchange, McGuinness added.
Seventy years after the founding of the People’s Republic of China, ties between China and UK h
ave gone from strength to strength, with bilateral trade now worth nearly 70 billion pounds, McGuinness said.
“I look forward to celebrating this long, fruitful relationship with our Chinese counterp
arts, and to marking the next chapter of our partnership in the Belt and Road,” she added.
ntry in the forest sector by the middle of this century in a guideline on promoting the greening of the homeland issued in November. The count
ry also aims to increase its percentage of forest cover from 21.7 percent in 2018 to about 23 percent in 2020, and 26 percent in 2035.
China’s digital trade is expected to lead global trade development, with the economic value of di
gital trade-enabled productivity benefits to the Chinese economy estimated to reach 37 trillion yu
an ($5.5 trillion) by 2030,according to a report on how China can capture digital trade opportunities at home and abroad.
Digital trade has become increasingly important; there are a lot of definitions of digital trade going on, with
the most common one being e-commerce, including monetary transactions and exchanges of goods and services, said re
search project head Konstantin Matthies, noting the report studies digital trade with a much broader approach.
“Digital trade” refers to the production, distribution, marketing, sale or delivery of goods and servi
ces – domestically and abroad – supported by cross-border digital flows. This consists of trade in digi
tally enabled products and services and cross-border data flows that create economic value in the domestic economy, acc
ording to the report jointly released by the Center for China and Globalization as well as the Hinrich Foundation.
ight examinations, and counselling services, he said.
Education departments will supervise schools to take concrete measures and eval
uate their performance, Minister of Education Chen Baosheng said at the meeting.
The State Council, China’s cabinet, said Wednesday it was necessary to amend laws and sup
porting regulations and policies to ensure the implementation of the foreign investment law.
Draft amendments for administrative licensing law, trademark law, construction law a
nd electronic signature law were passed Wednesday at a State Council executive meeting presided over by Premier Li Keqiang.
It was also decided at the meeting to submit the draft amendments to the Standing Committee of th
e National People’s Congress, China’s top legislature, for deliberation, according to a statement after the meeting.
Suggestions for revisions include adding the principle of “non-discrimination” in administrative licensi
ng, substantially raising the amount of compensation for infringing exclusive rights to use trade
marks, and cutting approval time for applications for qualified construction permits.