Jobs boost as UK secures new deals with China
After a three-day trade visit to China, Prime Minister Theresa May left the country having secured deals worth more than £9.3 billion for British businesses.
2 February 2018Prime Minister Theresa May left China on Friday after a three-day trip that she said marked the “opening new chapter” in Sino-UK relations and which had secured deals worth more than £9.3 billion for British businesses.Mrs May's upbeat assessment of the trade mission was echoed by President Xi Jinping who said he planned to upgrade the “golden era” in relations between the two countries.According to Chinese media reports, Mr Xi told the prime minister when they met in Beijing on Thursday that future relations would “add new meaning into the bilateral ties so as to forge an enhanced version of the golden era.”The reports also said that Beijing had appreciated Mrs May's support for the China-backed Asian Infrastructure Investment Bank and her “intelligence and pragmatism” in backing Mr Xi’s Belt and Road plan to build a new Silk Road.A government spokesman in London said that deals sealed during the visit would create more than 2,500 jobs in the UK, including 890 in financial services, where companies had secured deals worth more than £1 billion as well as new access to Chinese markets. China has also agreed to open up its domestic market to UK agricultural products.
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“We’ve agreed on moves to bring more of the UK’s internationally renowned food and drink to China, to open up the market to some of Britain’s world-class financial services providers,” Mrs May said.Other deals included a five-year export agreement with Aston Martin, which will involve the opening of more than 20 showrooms across China, and the opening of a string of childcare nurseries, including an international pre-school in Shanghai, by Staffordshire-based Busy Bees.International Trade Secretary Liam Fox, who accompanied Mrs May on the trip along with 50 business and higher education leaders, said, “I am delighted to have joined the prime minister on this crucial and incredibly fruitful visit.“The agreements signed this week, valued at more than £9 billion, demonstrate a clear demand for British goods and services. As an international economic department, we will continue to develop this valuable relationship, which already benefits British companies to the tune of £59 billion in trade each year.”Dr Fox also announced the appointment Richard Burn as a new trade commissioner for China – the first of nine commissioners set to promote UK trade in key markets across the world.The minister said, “As an international economic department, we've moved quickly to appoint the first of these important roles.“With his existing wealth of trade and investment experience, Richard will provide intelligence on the ground, deciding what tailored action is required in China, and playing a vital role in our future global trading relationships.”
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“We’ve agreed on moves to bring more of the UK’s internationally renowned food and drink to China, to open up the market to some of Britain’s world-class financial services providers,” Mrs May said.Other deals included a five-year export agreement with Aston Martin, which will involve the opening of more than 20 showrooms across China, and the opening of a string of childcare nurseries, including an international pre-school in Shanghai, by Staffordshire-based Busy Bees.International Trade Secretary Liam Fox, who accompanied Mrs May on the trip along with 50 business and higher education leaders, said, “I am delighted to have joined the prime minister on this crucial and incredibly fruitful visit.“The agreements signed this week, valued at more than £9 billion, demonstrate a clear demand for British goods and services. As an international economic department, we will continue to develop this valuable relationship, which already benefits British companies to the tune of £59 billion in trade each year.”Dr Fox also announced the appointment Richard Burn as a new trade commissioner for China – the first of nine commissioners set to promote UK trade in key markets across the world.The minister said, “As an international economic department, we've moved quickly to appoint the first of these important roles.“With his existing wealth of trade and investment experience, Richard will provide intelligence on the ground, deciding what tailored action is required in China, and playing a vital role in our future global trading relationships.”
For related news and features, visit our Enterprise section. Look out for the launch of 2018’s Relocate Awards, entry is now open. Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.
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