Deals worth over US$46 billion to be signed during Chinese President Xi Jinping’s visit to UK
Deals worth over US$46.4 billion are to be signed during the four-day visit of President Xi Jinping to Britain this week, the British government said.
Prime Minister David Cameron is courting stronger business ties with the world’s second-largest economy and both countries have said the visit could mark a new “golden era” in relations.
Giving few details on the deals, Cameron’s office announced they would cover industries including retail, energy, financial services and aerospace and create 3,900 jobs in Britain.
“This is going to be a very important moment for British-Chinese relations. Trade and investment between our two nations are growing and our people-to-people links are strong,” Cameron said in a statement.
One major deal under discussion is for China to take a key role in a project to build Britain’s first new nuclear power station in decades, Hinkley Point C in southwest England.
French utility EDF has reached an agreement with Beijing’s China General Nuclear Corporation and China National Nuclear Corporation to take a 33.5 per cent stake in the project, French daily Les Echos reported.