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David Cameron secures £14bn trade deals with China
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China signs £14bn trade deals with UK amid Premier's visit
17 June 2014 Last updated at 18:30
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. CDB is one of the biggest players in infrastructure development loans worldwide and is seen as an arm of Beijing's economic development policy as well as an extension of the country's "soft power" around the globe. Sir Gerry describes it as the "trillion-dollar bank" and it spends billions of pounds every year supporting projects, particularly across Asia and Africa. CDB is now looking to extend its influence, and that of China, into Europe.
Another deal is expected between BP and China National Offshore Oil Corporation worth about $20bn (£11.8bn). That will run over 20 years.The oil giant will supply its Chinese peer with liquefied natural gas (LNG), BP chief executive Bob Dudley said at a conference in Moscow. Mr Dudley said the deal would be signed in London. "It is a 20-year supply agreement on LNG. It is a fair price for them and a fair price for us. It is a good bridge between the UK and China in terms of trade," Mr Dudley said.
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."
http://www.bbc.co.uk/news/business-27882954
More jobs have been created by David Cameron, those who speak Mandarin will have an edge in securing jobs tied to the China trade.
17 June 2014 Last updated at 18:30
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. CDB is one of the biggest players in infrastructure development loans worldwide and is seen as an arm of Beijing's economic development policy as well as an extension of the country's "soft power" around the globe. Sir Gerry describes it as the "trillion-dollar bank" and it spends billions of pounds every year supporting projects, particularly across Asia and Africa. CDB is now looking to extend its influence, and that of China, into Europe.
Another deal is expected between BP and China National Offshore Oil Corporation worth about $20bn (£11.8bn). That will run over 20 years.The oil giant will supply its Chinese peer with liquefied natural gas (LNG), BP chief executive Bob Dudley said at a conference in Moscow. Mr Dudley said the deal would be signed in London. "It is a 20-year supply agreement on LNG. It is a fair price for them and a fair price for us. It is a good bridge between the UK and China in terms of trade," Mr Dudley said.
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."
http://www.bbc.co.uk/news/business-27882954
More jobs have been created by David Cameron, those who speak Mandarin will have an edge in securing jobs tied to the China trade.
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Comments
Doubt the labourites on the forum will agree with you but hey ho, that will happen.
How low have we sunk as a nation - that we are willing to sell our soul so easily!
And is giving a foreign government control of our energy sources that good an idea?
You think a £14bn trade deal isn't news???
You're 15 years too late.
So you have nothing in your house labelled "Made in China"?
Just a shame that we need to look abroad for this cash.
是啊！
I have been gratified to see that more and more schools in the UK are offering Mandarin as a subject option - it's unquestionably a business language of the future.
For any folks out there with young children, it would do no harm to consider placing them in a Mandarin immersion playgroup after school, or whenever you can do it. Best time to learn languages when you're young - and this is something we haven't excelled at historically - you'll equip them well for the future.
Regards,
Cypher
This one, never, it was only signed yesterday.
These particular deals, or trade deals in general?
THESE deals - as I said
I seem to recall similar when Dave went to China and comments at the time on how they had been announced before then
Of course it could be that there are two or more separate deals for nuclear power stations and that this announcement is not related to the previous ones
Then again it could just be groundhog Day
Apologies, I misunderstood - I originally thought you were talking about all trade deals (as in "these (type of) deals"). I think these particular deals with China have been on the go for some time. IIRC Osborne mentioned China potentially investing in nuclear power stations last year and last month there was talk of a major series of deals with China being negotiated. But it's one thing to have it all under discussion and another to return with signed deals.
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why would any of them be?
generally the ones that are relate to building factories and the like which would allow access to european markets.
these deals are not like that.
Agree with that.
the profit doesn't go abroad.
it doesn't work like that. firstly the 'profit' from HS2 is not profit in the conventional sense. it's the benefit to the country and the economy of having faster rail links. they're just lending the money.
remember our government borrows like a £1bn every 2-3 days. just to keep the lights on. if the government paid for HS2 it would have to borrow the money anyway. this is just another way of doing it.
building HS2 will create a lot of jobs.
I'm pretty sure the Chinese would like some sort of access to the EU and the markets within.
They are happily buying up expensive bits of London. I'm not sure if they are 'investing' like this in other European countries?
we know exactly what they are investing in.
the chinese development bank does not invest in individual houses. you might persuade them to build a massive apartment complex but even then i doubt it. too small.
the chinese have access to the EU and the markets within. the kind of thing you are talking about is when honda builds a car factory here.
the chinese are not building factories here. look at the deals announced. nothing to do with the EU.
AHH yes, forget about democracy, forget about human rights, forget about workers rights, pay, working conditions, health and safety, living conditions, free speech, political freedom, religious freedom, Tibet, forget about most of the things that the Tories see as a nuisance in this country, there's a quid or two to be made,
But MOST of all, stuff British values when it comes to making a few quid,
only what we would expect, after all, they know the price of everything and the value of nothing,