UK to receive £30bn investment following China State Visit

China is expected to announce deals and investments worth up to £30bn in the UK, during President Xi Jinping’s state visit.

According to the government, industries that will benefit from these commercial deals include the creative sector, retail, energy and financial services, technology and education.

Prime Minister David Cameron will meet with the Chinese President later this week, which will see the completion of the investments and reportedly create over 3,900 jobs.

As part of China’s investments, over £1bn in export deals is to be agreed in the retail sector, which will see UK-based companies expand their global footprint into China.

Furthermore, China is expected to play a major role in a new nuclear power plant which could open at Hinkley Point in Somerset by 2025. Although French energy firm EDF will build the plant, the China General Nuclear Corporation will cover approximately 30% of the £24bn cost.

The Northern Powerhouse is also anticipating a boost as China is reportedly going to announce further investment into the northern regions when the Prime Minister and President visit Manchester at the end of the week.

Speaking about the President’s state visit, the Prime Minister said: “This is going to be a very important moment for British-Chinese relations.

“Trade and investment between our two nations is growing and our people-to-people links are strong. This visit will be an opportunity to review all of these things but also talk about how the UK and China can work together on global issues such as climate change and tackling poverty. It’s a real opportunity to deepen our relationship.”

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