China signs £14bn trade deals with UK amid Premier's visit

Good score for England. The UK stopped exporting death and focused on trade and wealth. Britain is booming. America take note!

BBC News
17 June 2014

China says it wants to back major UK infrastructure projects and has signed £14bn in trade deals.

The news comes on the first full day of a visit by its leader.

The BBC understands the projects the state-owned China Development Bank (CDB) wants to invest in include High Speed 2 and the next generation of nuclear power stations.

A major deal between BP and China National Offshore Oil Corporation is worth about $20bn (£11.8bn).

That will run over 20 years.

CDB has signed a memorandum of understanding with TheCityUK.

The agreement will encourage CDB lending in the UK as well as trading in China's currency, the renminbi, which will open up trade opportunities in China to British businesses.

The memorandum is part of the announcements made by David Cameron and Premier Li Keqiang on Tuesday afternoon on closer Sino-UK commercial relations.

The Prime Minister, David Cameron, said: "The UK is the most popular destination in Europe for Chinese investment with more Chinese investment into the United Kingdom in the last eighteen months than the whole of the last thirty years combined."

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