'China crucial to world's recovery'

London and Beijing should work closely together as the world fights its way out of the economic downturn, said the UK's top financial regulator.

Adair Turner, chairman of the UK's Financial Services Authority, told China Daily that China and the UK should help list companies on each other's stock markets.

"Britain would see it more likely to have Chinese companies listed in London over time, as the mutual financial cooperation enables companies to build a global profile," Turner said.