The State Visit to the UK of China’s President Xi Jinping is set to see the completion of a number of wide-ranging trade and investment deals.
Said to be worth £30 billion and credited with creating nearly 4000 jobs across the UK, the latest agreements are in addition to £14 billion worth of deals signed at the UK-China Business Summit last year.
Sectors set to benefit from deals being signed during the visit of the Chinese President include retail, energy, health and technology, financial services, aerospace, the creative industries and education.
It is also anticipated that agreements on commercial opportunities will see British and Chinese businesses forge stronger links.
UK companies looking to expand into China are expected to benefit from new export opportunities, with the retail sector alone said to be in for a £1 billion boost in export deals which will see British companies expanding into the Chinese market.
At home, the UK’s regions will benefit from Chinese investment, according to Ministers. Prior to the State Visit, Chancellor George Osborne showcased a selection of £24 billion worth of investment opportunities in the North of England.
The Northern Powerhouse will enjoy Chinese backing for infrastructure and regeneration investment projects such as the Atlantic Gateway (a series of projects connecting the Port of Liverpool to the City of Manchester) and Science Central (a cutting-edge development in Newcastle).
The State Visit will also provide an opportunity for the UK and China to discuss how they can better work together on global issues such as terrorism and extremism.
