UNITED Kingdom's Chancellor of the Exchequer George Osborne wants China to import more from the UK, which currently ships only 2 percent of its exports to China.

Osborne also said he expected more Chinese firms seeking to expand overseas to invest in the UK.

"More exports to China can help Britain recover from its economic woes," Osborne said in Shanghai yesterday. "My presence here as my first trip outside Europe after I became the Chancellor demonstrates our strong ties with China."

Osborne chose China as his first stop outside Europe after he was appointed the chancellor, equivalent to a finance minister in other countries, nearly one month ago.

He visited the World Expo site in Shanghai yesterday before flying to South Korea to attend the Group of 20 finance ministers' meeting. He also visited Beijing and met Vice Premier Wang Qishan.

He said China and the UK shared a "common objective" to promote free trade and two-way investments.

Osborne also urged European countries to reduce their budget deficits.

He said the UK, which is suffering a similar situation, will unveil its budget on June 20 with a focus on reducing its deficit.