3:21 am - Sunday November 23, 2014

China and UK announce £1.40 billion business deals

Asia Bizz: After a long wait, UK and China announced business deals worth a massive £1.40 billion on Monday. The announcement included the reopening of the British Poultry exports to China, along with the increased pork exports and will strengthen the ties between UK and China.


Photo: Getty

After talks between the countries which took place Monday, between British Prime Minister David Cameron and Chinese Premier Wen Jiabao, the deals were announced. Jiabao is currently on the European tour in Britain, Hungary and Germany.

Apart from the Greece, who is on the verge of default, Beijing is trying its best to safeguard its majority of holdings of the European denominated assets and also to preserve the growth of the trade with the European Union, which is its largest trading partner.

Cameron’s office has also confirmed that deals worth more than one billion pounds have been announced following talks between Wen and Cameron.

Some of the UK-Chins business deals include British-based Seamwell International Ltd. signing a deal with China Energy Conservation and Environmental Protection Group to set up a coal electricity plant, British design house Priestmangoode will have a branch in Qingdao, Diageo PLC has given a green signal to Chinese spirit company Sichuan Chengdu Quanxing Group Company Ltd. to increase its stake to 53%, among certain other deals,

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