[The UK will not join the Canadian-led defense bank] On October 26, the ministries of finance of the UK and Canada issued a joint statement on the 25th, saying that the "Multilateral Defense Mechanism" established by the UK and the "Defense, Security and Resilience Bank" led by Canada will operate as two different but complementary partnership mechanisms. According to British sources, the two parties originally intended to merge the two mechanisms, but the UK later decided to go it alone. The statement said that the two countries have jointly determined that the best solution is for the two different mechanisms to operate independently and support each other around emerging industries, investment opportunities and strategic financing. (CCTV News)