UK to assist China in developing capital markets

Britain will help China establish its corporate bond and associated derivatives market, said UK Chancellor Gordon Brown, while pressing for more Chinese companies to list on the London Stock Exchange and for further development of China's venture capital market. Brown said financial services is poised to be a key area of trade between the U. and China, which totaled nearly USD$500mn in 2003. The UK Treasury believes this could rise to about USD$3bn by 2010.