Bilateral trade between China and UK stronger than ever

Bilateral trade between China and UK stronger than ever

According to the Chinese ambassador to the UK, Liu Xiaoming, bi-lateral trade between China and the UK exceeded $70bn (£43bn) in 2013. The UK has more than twice the investment of other EU countries and is one of the top ten countries receiving Chinese exports.

The UK has been developing trade links with China in recent years, trying to access the huge domestic market of the second-largest economy in the world.

Prime Minister David Cameron visited the country last year and said that “The UK can be the most profitable destination in the Western world for Chinese outward investment in infrastructure, real estate, energy and transportation”

The 48 Group Club is an independent business network encouraging a stronger link between China and the UK in terms of a bilateral business relationship. Chairman Stephen Perry said that “China and the UK working together will benefit our people and contribute to global peace and development.”

Chinese companies look to the UK as a beneficial location for European expansion. The Dalian Wanda Group plans to spend £1bn in the UK, buying a British yacht maker and developing hotel property in London. Huawei, a network equipment maker, plans to expand its UK operations with an investment of £1.3bn.

Away from the capital city, Beijing Construction Engineering Group (BCEG) along with a group of other corporations will be investing £800m in Manchester Airport in order to build up the surrounding business in the area.