China's economy is moving in a positive direction and presents strong opportunities for bilateral collaboration between China and the United Kingdom, according to Christopher Hayward, chairman of the policy and resources committee of the City of London Corporation.

"The way in which (the economy of) China is moving at the moment is in a positive way," Hayward said on the sidelines of the 2025 Lujiazui Forum in Shanghai on Wednesday.

Hayward said that greater openness will benefit both sides. "The more that China can open up, the better that will be for the Chinese economy. And certainly, we in the UK will want to support that. Part of our discussions with the Chinese government through the China-UK financial dialogue are around that.

"China has a great future — one which the UK wants to do business with. We want to trade with China. We see that as a great benefit to both of our countries," he added.