Media rekindle keenness in UK's China business

Chinese Vice Premier Ma Kai (R) shakes hands with Britain's Chancellor of the Exchequer George Osborne (L) before the start of the 7th China-UK strategic economic dialogue at Diaoyutai State Guesthouse, in Beijing, China, September 21, 2015. Osborne said on Monday Britain would like to continue helping the gradual internationalisation of the yuan and that it welcomed the potential for majority Chinese investment in future nuclear projects. Speaking at the start of an annual economic and financial dialogue, Osborne said that there was probably no country in the West that was more open to Chinese investment than Britain. [Photo/Agencies]

President Xi Jinping's visit to United Kingdom next month may be less problematic than his current trip to the United States, if media reports in both countries are anything to go by.

True, there's no outright hostility in the extensive coverage in, for example, The New York Times. But London's media are full of optimistic news about British Chancellor of the Exchequer George Osborne's carefully managed weeklong visit to China, packed with a huge variety of initiatives and deals - from nuclear power to a major financial boost to British schools to promote the teaching of Mandarin.

Over the weekend The Times and The Daily Telegraph, two of Britain's heavyweight newspapers, carried in-depth reports on the country's so-called "soft power" cultural approach. We don't send gunboats anymore; we rely on William Shakespeare in Mandarin and a huge collection of priceless objects from the British Museum. The aim behind the "new invasion" is trade with a capital T.

It's no secret that the Chinese economy has slowed down a bit of late, causing the US Federal Reserve to hold off on a widely touted interest rate increase. The NYT said the slowdown had somehow cast slight doubts on Xi's formula for governing China.

That hasn't deterred Osborne, who made it clear to British reporters covering his trip that he stood in solidarity with the Shanghai Stock Exchange, where plummeting prices were a cause for concern a couple of weeks ago.

Osborne said - in remarks carried in the Financial Times - that Britain and China would stick together, and indeed were planning to connect the Shanghai exchange with the London Stock Exchange. The Chinese economy, he stressed, would continue to fuel global growth.