Mainland companies have invested GBP38 million (about HK$457.32 million) in Britain and employ nearly 1,000 people, as the government presents the country as the destination of choice in the European Union, according to a Beijing Youth Daily report. Quoting figures from the Invest in Britain Bureau, it said 130 firms had invested there, including five listed on the London stock market, of which 65 per cent are state companies and 35 per cent private. They fall into four main categories - finance, trade, services and high-technology research and development, which had 65 firms, including computer maker Legend, Shanghai Guangdian Group and Haier Group. For Legend, London is its European headquarters, where it employs 11 people, more than half the number of its staff in Europe. The other firms include telecommunications equipment makers such as Huahui, Zhong Xing and Beijing Kezhuo, Erdos Cashmere Products, Wuxi Kaiyuan Machinery and shipping and insurance firms. These firms pay middle managers GBP30,000 to GBP50,000 a year. Some, in joint ventures with British firms, pay their top managers GBP50,000 to GBP100,000 a year. They also attract Chinese students in Britain after their graduation. In its annual report up to the end of March, the Invest in Britain Bureau said mainland firms were accounting for a rising proportion among foreign investors, with 14 new ones during the year up to March, creating 128 jobs. Britain hopes to repeat in China its success in Japan and South Korea in becoming the destination for firms seeking a European headquarters and production bases.