British Prime Minister Rishi Sunak said that the so-called golden era of relations with China has come to an end, warning that Beijing's move toward "even greater authoritarianism posed a systemic challenge to Britain’s values and interests," CNBC reported.

“Let’s be clear, the so-called golden era is over,” Sunak said.

Sunak said it was "naive" to believe that closer economic ties in the previous decade could lead to social and political reforms. He accused Beijing of a "conspicuously competing for global influence using all of the levers of state power.”

However, he warned, Britain cannot rely on "simplistic Cold War rhetoric.”

“We recognize China poses a systemic challenge to our values and interests — a challenge that grows more acute as it moves towards even greater authoritarianism,” Sunak said.