Lord Mayor of London to lead City’s first post-COVID trip to China | Business News

The Lord Mayor of London is to guide the primary Metropolis delegation to China for the reason that Covid pandemic, at the same time as tensions stay in Westminster about Britain’s relations with the world’s second-largest economic system.

Sky Information has learnt that Nicholas Lyons, the present occupant of the function, and Chris Hayward, the Metropolis of London Company’s coverage chairman, will journey to Beijing and different main cities later this month for talks with officers and companies.

Sources mentioned that discussions would give attention to key Metropolis strengths reminiscent of local weather change financing.

The journey – the primary of its type since 2019 – will come amid stuttering buying and selling ties between the UK and China after a interval during which the 2 governments’ relationship has cooled significantly.

Beijing’s stance on Russia’s battle in opposition to Ukraine and rising issues that China is getting ready to invade Taiwan have fuelled worldwide tensions throughout the previous yr.

A Metropolis of London Company spokesperson mentioned: “The Metropolis Company engages with all key worldwide markets together with China. This go to will likely be essential in driving ahead our local weather motion targets and supporting the worldwide economic system with the transition to net-zero. Because the world’s largest producer of carbon emissions any dialogue on local weather change should embody China.”

In current days, Lord Johnson, the funding minister, has been criticised by Conservative MPs over a go to to Hong Kong throughout which he was as a consequence of talk about fintech and different trade-related points with metropolis officers.

Iain Duncan Smith, the previous Tory chief and long-time China hawk, referred to as Rishi Sunak’s determination to ship Lord Johnson to the previous British colony “shameful”.

An annual discussion board referred to as the UK-China Financial and Monetary Dialogue has did not happen in recent times, partly due to the pandemic but additionally owing to frostier relations between the nations.

Metropolis executives have expressed hope that it might be reinstated this yr, though any potential preparations haven’t been made public.