

Currently released so far... 12404 / 251,287
Browse latest releases
2010/12/01
2010/12/02
2010/12/03
2010/12/04
2010/12/05
2010/12/06
2010/12/07
2010/12/08
2010/12/09
2010/12/10
2010/12/11
2010/12/12
2010/12/13
2010/12/14
2010/12/15
2010/12/16
2010/12/17
2010/12/18
2010/12/19
2010/12/20
2010/12/21
2010/12/22
2010/12/23
2010/12/24
2010/12/25
2010/12/26
2010/12/27
2010/12/28
2010/12/29
2010/12/30
2011/01/01
2011/01/02
2011/01/04
2011/01/05
2011/01/07
2011/01/09
2011/01/10
2011/01/11
2011/01/12
2011/01/13
2011/01/14
2011/01/15
2011/01/16
2011/01/17
2011/01/18
2011/01/19
2011/01/20
2011/01/21
2011/01/22
2011/01/23
2011/01/24
2011/01/25
2011/01/26
2011/01/27
2011/01/28
2011/01/29
2011/01/30
2011/01/31
2011/02/01
2011/02/02
2011/02/03
2011/02/04
2011/02/05
2011/02/06
2011/02/07
2011/02/08
2011/02/09
2011/02/10
2011/02/11
2011/02/12
2011/02/13
2011/02/14
2011/02/15
2011/02/16
2011/02/17
2011/02/18
2011/02/19
2011/02/20
2011/02/21
2011/02/22
2011/02/23
2011/02/24
2011/02/25
2011/02/26
2011/02/27
2011/02/28
2011/03/01
2011/03/02
2011/03/03
2011/03/04
2011/03/05
2011/03/06
2011/03/07
2011/03/08
2011/03/09
2011/03/10
2011/03/11
2011/03/13
2011/03/14
2011/03/15
2011/03/16
2011/03/17
2011/03/18
2011/03/19
2011/03/20
2011/03/21
2011/03/22
2011/03/23
2011/03/24
2011/03/25
2011/03/26
2011/03/27
2011/03/28
2011/03/29
2011/03/30
2011/03/31
2011/04/01
2011/04/02
2011/04/03
2011/04/04
2011/04/05
2011/04/06
2011/04/07
2011/04/08
2011/04/09
2011/04/10
2011/04/11
2011/04/12
2011/04/13
2011/04/14
2011/04/15
2011/04/16
2011/04/17
2011/04/18
2011/04/19
2011/04/20
2011/04/21
2011/04/22
2011/04/23
2011/04/24
2011/04/25
2011/04/26
2011/04/27
2011/04/28
2011/04/29
2011/04/30
Browse by creation date
Browse by origin
Embassy Athens
Embassy Asuncion
Embassy Astana
Embassy Asmara
Embassy Ashgabat
Embassy Apia
Embassy Ankara
Embassy Amman
Embassy Algiers
Embassy Addis Ababa
Embassy Accra
Embassy Abuja
Embassy Abu Dhabi
Embassy Abidjan
Consulate Auckland
Consulate Amsterdam
Consulate Adana
American Institute Taiwan, Taipei
Embassy Bujumbura
Embassy Buenos Aires
Embassy Budapest
Embassy Bucharest
Embassy Brussels
Embassy Bridgetown
Embassy Bratislava
Embassy Brasilia
Embassy Bogota
Embassy Bishkek
Embassy Bern
Embassy Berlin
Embassy Belmopan
Embassy Belgrade
Embassy Beirut
Embassy Beijing
Embassy Banjul
Embassy Bangkok
Embassy Bandar Seri Begawan
Embassy Bamako
Embassy Baku
Embassy Baghdad
Consulate Barcelona
Embassy Copenhagen
Embassy Conakry
Embassy Colombo
Embassy Chisinau
Embassy Caracas
Embassy Canberra
Embassy Cairo
Consulate Curacao
Consulate Ciudad Juarez
Consulate Chennai
Consulate Casablanca
Consulate Cape Town
Consulate Calgary
Embassy Dushanbe
Embassy Dublin
Embassy Doha
Embassy Djibouti
Embassy Dili
Embassy Dhaka
Embassy Dar Es Salaam
Embassy Damascus
Embassy Dakar
Consulate Dubai
Embassy Helsinki
Embassy Harare
Embassy Hanoi
Consulate Ho Chi Minh City
Consulate Hermosillo
Consulate Hamilton
Consulate Hamburg
Consulate Halifax
Embassy Kyiv
Embassy Kuwait
Embassy Kuala Lumpur
Embassy Kinshasa
Embassy Kingston
Embassy Kigali
Embassy Khartoum
Embassy Kathmandu
Embassy Kampala
Embassy Kabul
Consulate Kolkata
Embassy Luxembourg
Embassy Luanda
Embassy London
Embassy Ljubljana
Embassy Lisbon
Embassy Lima
Embassy Lilongwe
Embassy La Paz
Consulate Lahore
Consulate Lagos
Mission USOSCE
Mission USNATO
Mission UNESCO
Embassy Muscat
Embassy Moscow
Embassy Montevideo
Embassy Monrovia
Embassy Minsk
Embassy Mexico
Embassy Mbabane
Embassy Maputo
Embassy Manila
Embassy Manama
Embassy Managua
Embassy Malabo
Embassy Madrid
Consulate Munich
Consulate Mumbai
Consulate Montreal
Consulate Monterrey
Consulate Milan
Consulate Melbourne
Embassy Nicosia
Embassy New Delhi
Embassy Ndjamena
Embassy Nassau
Embassy Nairobi
Consulate Naples
Consulate Naha
Embassy Pristina
Embassy Pretoria
Embassy Prague
Embassy Port Of Spain
Embassy Port Louis
Embassy Port Au Prince
Embassy Phnom Penh
Embassy Paris
Embassy Paramaribo
Embassy Panama
Consulate Peshawar
REO Basrah
Embassy Rome
Embassy Riyadh
Embassy Riga
Embassy Reykjavik
Embassy Rangoon
Embassy Rabat
Consulate Rio De Janeiro
Consulate Recife
Secretary of State
Embassy Suva
Embassy Stockholm
Embassy Sofia
Embassy Skopje
Embassy Singapore
Embassy Seoul
Embassy Sarajevo
Embassy Santo Domingo
Embassy Santiago
Embassy Sanaa
Embassy San Salvador
Embassy San Jose
Consulate Strasbourg
Consulate St Petersburg
Consulate Shenyang
Consulate Shanghai
Consulate Sao Paulo
Embassy Tunis
Embassy Tripoli
Embassy Tokyo
Embassy The Hague
Embassy Tel Aviv
Embassy Tehran
Embassy Tegucigalpa
Embassy Tbilisi
Embassy Tashkent
Embassy Tallinn
Consulate Toronto
Consulate Tijuana
USUN New York
USEU Brussels
US Office Almaty
US Mission Geneva
US Interests Section Havana
US Delegation, Secretary
UNVIE
Embassy Ulaanbaatar
Embassy Vilnius
Embassy Vienna
Embassy Vatican
Embassy Valletta
Consulate Vladivostok
Consulate Vancouver
Browse by tag
ASEC
AE
AF
AM
AR
AJ
AU
AORC
AG
AEMR
AMGT
APER
AGMT
AL
AFIN
AO
AMED
ADCO
AS
ABUD
ABLD
ASUP
ASECKFRDCVISKIRFPHUMSMIGEG
APECO
AID
AND
AMBASSADOR
AN
ARM
AY
AODE
AMG
ASCH
AMCHAMS
ARF
APCS
APEC
ASEAN
AGAO
ANET
ADPM
ACOA
ACABQ
AORL
AFFAIRS
ATRN
ACS
AFSI
AFSN
ADANA
ASIG
AA
AX
AUC
AC
AECL
AADP
AGRICULTURE
AMEX
ACAO
ACBAQ
AQ
AORG
ADM
AINF
AIT
ASEX
AGR
AROC
ATFN
AFGHANISTAN
AFU
AER
ALOW
AZ
AVERY
BA
BY
BU
BR
BE
BL
BO
BK
BM
BILAT
BH
BEXP
BF
BTIO
BC
BBSR
BMGT
BTIU
BG
BWC
BB
BD
BX
BP
BRUSSELS
BN
BIDEN
BT
CW
CH
CF
CD
CV
CVIS
CM
CE
CA
CJAN
CLINTON
CIA
CU
CASC
CI
CO
CACM
CDB
CN
CMGT
CS
CG
CBW
CIS
CR
CONDOLEEZZA
CPAS
CAN
CWC
CY
COUNTER
CDG
CL
CT
CIC
CIDA
CSW
CHR
CB
CODEL
COUNTERTERRORISM
CTR
COM
CICTE
CFED
CJUS
CKGR
CBSA
CEUDA
CARSON
CONS
CITEL
CLMT
CROS
CITT
CAC
CVR
CDC
CAPC
COPUOS
CBC
CBE
CARICOM
COE
COUNTRY
CLEARANCE
CACS
CTM
CNARC
ECON
EFIN
ETRD
EUN
EFIS
EG
ETTC
EZ
EPET
EAID
EAGR
ENRG
ECUN
EU
ELAB
ECPS
EAIR
EINV
ELTN
EWWT
EIND
EMIN
EI
ECIN
ENVR
ELECTIONS
EINVEFIN
EN
ES
ER
EC
EUC
EINT
EINVETC
ENGR
ET
EK
ENIV
ETRDEINVECINPGOVCS
ECONOMY
EAP
EFTA
EUR
EUMEM
EXIM
ERD
ENERG
EUREM
ESA
ERNG
EXTERNAL
EPA
EINVECONSENVCSJA
ECONOMICS
ELN
EINN
EFINECONCS
ENNP
EEPET
ETRDEINVTINTCS
ENVI
ETRO
ESENV
ECINECONCS
ECONOMIC
EAIDS
EDU
ETRA
ETRN
EFIM
EIAR
ETRC
EAIG
EXBS
EURN
ECIP
EREL
ECA
ENGY
ECONCS
ECONEFIN
ETC
ETRDECONWTOCS
EUNCH
EINDETRD
IR
IZ
IS
IAEA
INRB
IRAJ
IQ
IN
IT
IMO
INTERPOL
ICAO
IO
IC
ITALY
ITALIAN
IRAQI
ICTY
ID
IPR
IWC
ILC
INTELSAT
IL
IBRD
IMF
IA
IRC
ICRC
ILO
ITU
ITRA
IV
IDA
IAHRC
ICJ
ISRAELI
IRS
INMARSAT
ISRAEL
ISLAMISTS
INDO
IZPREL
ITPHUM
ITPGOV
ITF
IBET
IEFIN
INR
IACI
INTERNAL
IDP
IGAD
IEA
ICTR
IIP
INRA
INRO
IF
KJUS
KSCA
KNNP
KU
KCOR
KCRM
KDEM
KTFN
KHLS
KPAL
KWBG
KACT
KGHG
KPAO
KTIA
KIRF
KWMN
KS
KG
KZ
KN
KMDR
KISL
KSPR
KHIV
KPRP
KAWK
KR
KUNR
KDRG
KCIP
KGCC
KTIP
KSUM
KPKO
KVIR
KAWC
KPIN
KGIC
KRAD
KIPR
KOLY
KCFE
KMCA
KE
KV
KICC
KNPP
KBCT
KSEP
KFRD
KFLU
KVPR
KOCI
KBIO
KSTH
KMPI
KCRS
KOMC
KTBT
KPLS
KIRC
KREL
KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG
KFLO
KBTS
KSTC
KTDB
KFSC
KX
KFTFN
KNEI
KIDE
KREC
KMRS
KICA
KPAONZ
KCGC
KSAF
KRGY
KCMR
KRVC
KVRP
KSEO
KCOM
KAID
KTEX
KNUC
KNAR
KNUP
KNNPMNUC
KLIG
KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG
KCRCM
KHDP
KGIT
KNSD
KOMS
KWMM
KPAI
KHSA
KTLA
KO
KMFO
KRCM
KCSY
KSAC
KTRD
KPWR
KID
KWNM
KRIM
KPOA
KCHG
KOM
KSCI
KFIN
KMOC
KESS
KWAC
KMIG
KSEC
KIFR
KDEMAF
KPRV
KBTR
KERG
KTER
KDDG
KPAK
KRFD
KHUM
KDEV
KCFC
KWWMN
KWMNCS
KJUST
MARR
MOPS
MU
MTCRE
MNUC
MY
MASS
MCAP
MOPPS
MAR
MPOS
MO
ML
MR
MASC
MX
MD
MP
MA
MTRE
MIL
MCC
MZ
MK
MDC
MRCRE
MAPS
MV
MI
MEPN
MAPP
MEETINGS
MAS
MTS
MLS
MILI
MTCR
MG
MC
MARAD
MIK
MILITARY
MEDIA
MEPI
MUCN
MEPP
MT
MERCOSUR
MW
MASSMNUC
MQADHAFI
NZ
NATO
NG
NI
NO
NATIONAL
NU
NPT
NIPP
NL
NPG
NS
NA
NGO
NP
NSG
NDP
NAFTA
NR
NC
NH
NE
NSF
NPA
NK
NSSP
NRR
NATOPREL
NSC
NT
NW
NORAD
NEW
NV
NSFO
NAR
NASA
NZUS
OTRA
OVIP
OPRC
OPDC
OSCE
OAS
ODIP
OIIP
OFDP
OVP
OREP
OFFICIALS
OSAC
OEXC
OPCW
OIE
OIC
OFDA
OSCI
OPIC
OBSP
OECD
ON
OCII
OHUM
OES
OCS
OMIG
OPAD
OTR
PGOV
PREL
PHUM
PINR
PTER
PSOE
PINS
PARM
PK
PBTS
PEPR
PM
POLITICAL
PARTIES
PREF
PBIO
PROP
PA
PSI
PINT
PO
PKFK
PL
PAK
PE
POLITICS
PINL
POL
PHSA
PU
PF
POV
PFOR
PHALANAGE
PARTY
PARMS
PRGOV
PNAT
POLINT
PRAM
PMAR
PG
PAO
PROG
PRELP
PPA
PCUL
PSEPC
PSA
PREO
PAHO
PGIV
PREFA
PALESTINIAN
PAIGH
POSTS
PTBS
PGOVLO
PORG
PGOVE
PLN
PINF
PAS
PUNE
POLICY
PDEM
PDOV
PCI
PGOVSMIGKCRMKWMNPHUMCVISKFRDCA
PBT
PHUMPGOV
PMIL
PNG
PP
PS
PHUH
PECON
POGOV
PY
PHUMPREL
PHUS
PRL
PGOC
PNR
PGGV
PROV
PTERE
PGOF
PHUMBA
PEL
RS
RU
RW
REGION
RP
RICE
ROBERT
RSP
RUPREL
RM
RO
RCMP
RSO
RELATIONS
REACTION
REPORT
RIGHTS
ROOD
RF
RFE
RIGHTSPOLMIL
SP
SA
SY
SF
SYR
SENV
SCUL
SOCI
SNAR
SO
SU
SG
STEINBERG
SHUM
SW
SMIG
SR
SZ
SIPRS
SI
SAARC
SPCE
SARS
SN
SYRIA
SANC
SL
SCRS
SC
SENVKGHG
SAN
SNARCS
SHI
SWE
SNARIZ
SIPDIS
SEN
SNARN
SPCVIS
SEVN
SSA
SH
SOFA
SK
ST
TPHY
TU
TRGY
TI
TX
TS
TW
TC
TFIN
TD
TSPA
TH
TT
TIP
TBIO
TSPL
TZ
TERRORISM
TRSY
TN
THPY
TINT
TF
TL
TV
TK
TO
TP
TURKEY
TNGD
TBID
TAGS
TR
UP
US
UNSC
UK
UZ
UE
UNESCO
UV
UNGA
UN
UNMIK
UNO
UY
UAE
UNEP
UG
UNHCR
UNHRC
USUN
UNAUS
USTR
USNC
USOAS
UNCHR
UNCSD
UNDP
USEU
USPS
UNDC
UNDESCO
UNCHC
UNFICYP
UNC
UNODC
UNPUOS
UNCND
UNICEF
UNCHS
UNVIE
USAID
UNIDROIT
Browse by classification
Community resources
courage is contagious
Viewing cable 09BEIJING1582, UK-CHINA ECON DIALOGUE: NO LONGER A “BLOODY
If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs
Understanding cables
Every cable message consists of three parts:
- The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
- The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
- The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.
Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #09BEIJING1582.
Reference ID | Created | Released | Classification | Origin |
---|---|---|---|---|
09BEIJING1582 | 2009-06-12 02:02 | 2010-12-04 21:09 | CONFIDENTIAL | Embassy Beijing |
VZCZCXRO7167
OO RUEHCN RUEHGH RUEHVC
DE RUEHBJ #1582/01 1630223
ZNY CCCCC ZZH
O 120223Z JUN 09
FM AMEMBASSY BEIJING
TO RUEHC/SECSTATE WASHDC IMMEDIATE 4482
INFO RUEHOO/CHINA POSTS COLLECTIVE IMMEDIATE
RUEHLO/AMEMBASSY LONDON IMMEDIATE 3560
RUEHFR/AMEMBASSY PARIS IMMEDIATE 4598
RHEHNSC/NSC WASHDC IMMEDIATE
RUEKJCS/SECDEF WASHINGTON DC IMMEDIATE
RUEAIIA/CIA WASHINGTON DC IMMEDIATE
RUEATRS/DEPT OF TREASURY WASHINGTON DC IMMEDIATE
RUEHBS/USEU BRUSSELS IMMEDIATE
RHMFISS/CDR USPACOM HONOLULU HI IMMEDIATE
C O N F I D E N T I A L SECTION 01 OF 05 BEIJING 001582
SIPDIS
STATE FOR EAP/CM - THOMAS, FLATT, THORNTON, SHEAR
STATE FOR S/P - CHOLLET, GREEN
STATE FOR E - YON
STATE FOR D - PARK
STATE PASS USTR FOR STRATFORD
NSC FOR LOI
TREASURY FOR EUGENE HUANG, CHRIS WINSHIP, JASON PAU
PARIS PASS OECD
EO 12958 DECL: 06/12/2019
TAGS PREL, ECON, EFIN, EAID, EINV, ETRD, PHUM, AU-1, CH
SUBJECT: UK-CHINA ECON DIALOGUE: NO LONGER A “BLOODY
DISASTER”
Classified By: Acting Economic Minister Counselor Robert W. Forden. Rea sons 1.4 (b/d).
SUMMARY
-------
¶1. (C) While the 2008 first round of the UK-China Economic and Financial Dialogue (EFD) was a “bloody disaster,” the second meeting, held in London May 11, 2009, produced “decent results,” according to UK Embassy Econoff Tamsin Rees, who coordinated the UK Embassy’s contributions to the event. Rees said that while EFD1 was marred by a protocol-driven, scripted exchange, EFD2 featured more dialogue, and benefited from substantive working-level exchanges in advance of the ministerial meeting on touchy topics like market access. Rees said key deliverables from EFD2 include a fast track patent program for green technologies, a bank assurance pilot project permitting Standard Life to establish an insurance business in China, and commitment to another round of the successful China-Africa Dialogue. (The full outcomes list is in paragraph nine.) Still, protocol snafus dogged EFD2, such as when various British Ministers came and left throughout the day. Rees added that the UK also earlier assembled its Ambassadors to the United States, France, Moscow, the United Nations, and the European Union for a Strategic Dialogue meeting with State Councilor Dai Bingguo, which featured a good off-the-record discussion on Iran, Afghanistan, Pakistan, and some trade topics. End Summary.
What Worked Well at the Second EFD -- Lessons for SnED
--------------------------------------------- ---------
¶2. (SBU) Rees attributed the greater success of EFD2 to more open discussion, better preparation, a good atmosphere, and senior buy-in on the UK side. She said more free discussion had made a “massive difference.” The format limited the length of interventions to three minutes each. She said the UK had initially pushed for a two minute limit. There were 45-minute “free discussion blocks” on three key topics, which resulted in a 30-40 minute talk on trade and investment, a topic that China had initially resisted even including on the agenda, she said. In the end, Rees described Chinese delegation head Vice Premier Wang Qishan as “very vocal” and willing to talk off the cuff. She added that China was very interested in comments by the Chairman of the UK Financial Services Authority on financial regulation.
¶3. (SBU) Rees added that an earlier series of working-level meetings contributed to the dialogue at the ministerial. Despite China’s initial unwillingness to negotiate -- or even discuss -- some matters, the British were able to overcome this resistance by really pressing the Chinese. For example, the UK kept pushing for a “joint statement” to the press rather than the pre-prepared one preferred by the Chinese. Ultimately, British persistence meant the parties agreed on a statement which was much closer to the one the UK had envisioned. China also initially refused to discuss market access, but in the plenary lead-up the UK told China that they felt China was not taking the issue seriously. As a result, MOFCOM assembled 12 Chinese agencies for a half-day meeting with the UK Ambassador to discuss market access. At first, China agreed on six market access-related deliverables, but backed out the next day, likely over concern about making the concessions public, Rees assessed.
¶4. (SBU) Rees added that the setting of the meeting also facilitated an open conversation. The parties met in London’s elegant Lancaster House, which is adjacent to Buckingham Palace. The UK offered China its own secretariat room. Chinese participants were free to enter and leave the facility as they pleased. Vice Premier Wang even had a room with a terrace and garden, allowing him to smoke between sessions.
BEIJING 00001582 002 OF 005
¶5. (C) In contrast, Rees said EFD1 was a “disaster” and a “protocol-driven waste of time.” She lamented that a certain Chancellor, who came to Beijing from the World Bank-IMF Spring meetings in Washington “was not engaged, was not sure why he was doing the event or what the goal was, and did not understand why the meeting had been upgraded from the existing financial dialogue.” She added that he arrived in Beijing and “decided he hated the press statement” and wanted it re-written overnight.
Charm Offensive, or Just Plain Offensive?
-----------------------------------------
¶6. (C) Nonetheless, EFD2 had a couple hiccups. Most notably, UK Ministers who were scheduled to participate decided at the last minute that they could not commit for the whole day, and instead came and left at various sessions, while the Chinese delegation stayed for the whole event. Rees admitted that it may have been a mistake to wait until the night before the event to inform the Chinese delegation of this change in format.
¶7. (C) She added that the Dalai Lama had transited the UK days before the event, that the UK had refused a visa to a Chinese violinist who was scheduled to perform at the Bank of China 80th anniversary dinner, which Vice Premier Wang attended, and that Wang claimed he is allergic to alcohol while the UK had planned a whiskey dinner. She added that the latter issue confused the UK side because the former head of the Hong Kong Monetary Authority had said he used to go drinking together with Wang.
Dialogue Deliverables: Tiptoeing Forward...
--------------------------------------------
¶8. (SBU) The UK and China left EFD2 with a list of policy outcomes -- some substantive, some vague and nominal. Rees complained about the “unwillingness on the part of the Chinese MFA to negotiate on anything.” The parties split the plenary into four sessions within which they developed policy outcomes: Supporting Economic Growth and Welfare; Financial Stability and Capital Market Development; Supporting Green Growth through Bilateral Energy and Environment Cooperation; and Trade and Investment. Rees highlighted the following (the complete list is attached in para nine):
- Climate: China insisted on couching everything climate-related in vague language, like “the two sides will share expertise.” China called the topic “very sensitive” and deleted all references to “carbon markets,” saying this was “inconvenient to discuss.” Rees speculated that China may want to refrain from making concessions to the UK as it prepares for multilateral climate talks in Copenhagen.
- IPR: In addition to fast track patent licenses for green technology, Rees said there were additional IPR-related outcomes which were not included in the public announcement.
- Africa: China agreed to propose a date for another round of the UK-China Africa Dialogue. In the last meeting, which Rees called a success, the UK delivered an assessment on the wider impact of Chinese investment in Africa.
- Bank assurance pilot: China agreed to allow the UK’s Standard Life to establish an insurance subsidiary and the UK agreed to permit Hainan Bank to do the same. Rees added that Wang Qishan’s support on this was invaluable because coordination between the China Insurance Regulatory Commission and China Bank Regulatory Commission on this issue, which cut across their portfolios, had been a “nightmare.”
- Financial sector: The parties agreed to allow UK firms to list in Shanghai and Chinese firms to list in London, which
BEIJING 00001582 003 OF 005
Rees noted China had already previously agreed to do at the EFD1, but had failed to implement.
Separate UK-China Foreign Policy Dialogue
-----------------------------------------
¶8. (SBU) Rees added that the UK also conducts a Strategic Dialogue with Chinese State Councilor Dai Bingguo. The UK lead is Simon McDonald, Prime Minister Brown’s lead foreign policy advisor. At the most recent meeting in Beijing, McDonald assembled UK ambassadors to the United States, France, Moscow, the United Nations, and the European Union for an off-the-record, open walk-through with Chinese officials on key third country issues, like Iran, Afghanistan, and Pakistan, as well as some trade concerns.
Text of EFD2 Outcomes Document
------------------------------
¶9. (SBU) UK-China Economic and Financial Dialogue II Policy Outcomes
Session I: Supporting economic growth and welfare
¶1. We agreed the importance of safeguarding development in low income countries during the economic slowdown. We reaffirmed our commitment to meeting the Millennium Development Goals. China appreciates UK,s commitment to achieve the 0.7 percent ODA/GNI target at an earlier date. China and UK will make every effort to contribute to achievement of the UN Millennium Development Goals through their respective channels. We also confirmed our support for a substantial increase in lending of at least $l00bn by the Multilateral Development Banks (MDBs), including to low-income countries, and will work to ensure that all MDBs have the appropriate capital.
¶2. We agreed that a crucial element of the global response is the role played by the international financial institutions. Following agreements reached at the London Summit, we reaffirmed our commitment to providing additional resources to the IMF. We also reiterated our commitment to reform the IMF. We agreed that the IMF,s governance structure must reflect changing weights in the world economy. We urge IMF and the World Bank to expedite governance structure reform, work out explicit timetable and roadmap, so as to complete the next review of quotas of IMF by January 2011 and agree on voice and representation reform of the World Bank by the 2010 Spring Meetings.
¶3. UK will consult and exchange views with China on the Department for International Development,s policies on development.
¶4. As part of the UK,s G20 Chair year, China and the South Africans will co-host the Financing for Development workshop under the G20 Finance Ministers and Central Bank Governors Meeting.
¶5. UK and China agree to jointly draft a new M0U between the UK Department for Work and Pensions and the Chinese Ministry of Human Resources and Social Security;
Session II: Financial Stability and Capital Market Development
¶6. UK and China re-iterate their commitment to continue to take actions to reform the regulation of the financial sector as agreed in the London Summit communiqu, in line with the principles of strengthening transparency and accountability, enhancing sound regulation, promoting integrity in financial markets and reinforcing international cooperation.
¶7. UK and China agree to build on current regulatory exchange
BEIJING 00001582 004 OF 005
and cooperation between their respective financial regulatory authorities (FSA, CBRC, CSRC and CIRC), including discussions between relevant parties on steps following China,s accession to the Financial Stability Board and the Basel Committee on Banking Supervision.
¶8. FSA and CIRC have exchanged letters on mutual cooperation;
¶9. Both sides will continue to support qualified Chinese companies to list on the London Stock Exchange through various listing routes, and work together swiftly to progress this.
¶10. China and UK agree to expand financial sector technical collaboration and exchange programme agreed by Vice-Premier Wang and Chancellor at the First EFD, specifically to focus on:
-- Financial stability issues, including international financial sector standards;
-- Capital market development covering equities and bond markets, product innovation and risk management;
-- SME financing;
-- Investor education;
-- Insurance and private pensions;
-- Asset management;
-- Collaboration opportunities between the relevant parties of China and the UK-based International Centre for Financial Regulation.
¶11. China agrees to allow qualified foreign companies, including UK companies to list on its stock exchange through issuing shares or depository receipts in accordance with relevant prudential regulations;
Session III: Supporting Green Growth through Bilateral Energy and Environment Cooperation
¶12. China and the UK commit to deepen cooperation on sustainable cities, as agreed under the Sustainable Cities Initiative MOU, through the pilots in Wuhan and Chongqing;
¶13. China and UK agree to conduct exchanges and cooperation on nuclear energy and offshore wind power development and construction, on implementing a quota system on renewable energy, and on improving industrial policies and management mechanism of renewable energy.
¶14. UK and China agree to share experiences on the role of economic ministries and other agencies in promoting green growth.
15.UK and China agree to discuss the possibility of fast-tracking green patents as a way to promote faster development of green technology.
Session IV: Trade and Investment
¶16. We agree to follow up our commitment to support trade finance at the London Summit, and strongly support the IFC to establish the Global Trade Liquidity Pool, The UK has agreed to commit contributions up to 300m towards phase 1 of the initiative. China has purchased US$1.5 billion placement bonds to support the trade finance programme of the IFC.
¶17. We agree to work together to expand our bilateral trade in particular in aerospace, environmental protection, biological technology, pharmaceuticals electronics and advanced engineering.
¶18. UK reaffirms its support for China,s market economy status at as early a date as possible and will continue to play a constructive role to encourage EU recognition;
BEIJING 00001582 005 OF 005
¶19. We are in full agreement on the advantages of maintaining free trade and the multi-lateral trading system. We must remain committed to the principles set out at the London Summit to reject all forms of protectionism, underpin prosperity and refrain from erecting new barriers to investment or trade. Both sides commit to continuing close cooperation, locking in of the consensus and outcomes achieved so far in the Doha round negotiations, to achieve a comprehensive and balanced conclusion of the negotiation at an early date. This would send a good signal of how the international community can work together to boost global prosperity and meet our development goals.
¶20. Both sides recognize the constructive role that sovereign wealth funds can play in stabilizing the world economy, and boosting global demand. The UK and China remain committed to open markets for investments, including those from Sovereign Wealth Funds.
21.China and the UK agree to take advantage of the Joint Economic and Trade Commission to explore effective ways to achieve the bilateral trade target and to enrich EFD Outcomes.
¶22. China and UK will actively implement the MOU on strengthening trade and investment cooperation in Chinese regional cities between the Ministry of Commerce of China and the Department of Business Enterprise and Regulatory Reform and the China-Britain Business Council of the UK, including in the mid-west of and the north east of China, so as to enhance the trade and investment cooperation between the two countries.
¶23. UK and China agree to discuss emerging ideas for how to create international model framework agreements for collaborative R&D projects promoting further co-operation on innovation and technology projects and addressing technology transfer obstacles.
PICCUTA