{"id":88684,"date":"2018-02-05T15:35:41","date_gmt":"2018-02-05T15:35:41","guid":{"rendered":"http:\/\/mostafa.openonline.co.uk\/?guid=5d2e14bb7cd6d828df824cc90cb271f3"},"modified":"2018-02-05T15:35:41","modified_gmt":"2018-02-05T15:35:41","slug":"press-release-prime-minister-and-dr-liam-foxs-china-visit-boosts-trade-and-jobs","status":"publish","type":"post","link":"https:\/\/mostafa.openonline.co.uk\/?p=88684","title":{"rendered":"Press release: Prime Minister and Dr Liam Fox\u2019s China visit boosts trade and jobs"},"content":{"rendered":"<div class=\"govspeak\">\n<p>International Trade Secretary Dr Liam Fox led a 50-strong business delegation on his visit to China with the Prime Minister.<\/p>\n<p>International Trade Secretary, Dr Liam Fox, said:<\/p>\n<blockquote>\n<p>I am delighted to have joined the Prime Minister on this crucial and incredibly fruitful visit.<\/p>\n<p>The agreements signed this week, valued at more than \u00a39 billion, demonstrate a clear demand for British goods and services.<\/p>\n<p class=\"last-child\">As an international economic department, we will continue to develop this valuable trading relationship, which is now worth more than \u00a359 billion, with UK exports to China increasing by over 25% last year.<\/p>\n<\/blockquote>\n<p>During the visit deals worth over \u00a39.8 billion have been agreed, representing commercial signings, market access agreements and future contract commitments within a variety of sectors, creating more than 2,600 jobs across the UK.<\/p>\n<h3 id=\"further-information\">Further information:<\/h3>\n<p>Deals valued at \u00a39.89 billion have been agreed, creating 2,666 UK jobs.<\/p>\n<p>Within advanced manufacturing, deals valued at \u00a33.25 billion have been agreed, creating 500 new jobs. Some of these deals include:<\/p>\n<ul>\n<li>a new \u00a350 million <abbr title=\"Research and Development\">R&amp;D<\/abbr> centre in Birmingham by Times Electric, which will develop new technology in the area of electric vehicles and create 150 high-skilled jobs in the UK over the next 5 years<\/li>\n<li>a \u00a320 million dealer investment and expansion programme by Aston Martin Lagonda, taking its total footprint in the Chinese market to more than 20 locations<\/li>\n<li>investment in a new design studio for all-electric London cabs in Coventry by Geely. Owners of the London Electric Vehicle Company (LEVC), the studio will create 100 new jobs<\/li>\n<li>a Memorandum of Understanding (<abbr title=\"memorandum of understanding\">MoU<\/abbr>) signed by Ultra MTS with the China Railway Eryuan Engineering Group Co. Ltd (CREEC) to supply its award-winning driverless pods, as used in Heathrow Terminal 5, to the Chinese market<\/li>\n<li>Surrey Satellite Technology Ltd (SSTL) has agreed a contract worth \u00a322 million with the Chinese company 21-AT for the provision of Earth Orbital data<\/li>\n<li>Graphene Lighting is to form a joint venture with Nanjing Economic and Technological Development Zone (NETDZ) that will enable them to export environmentally-friendly graphene lightbulbs to the EU worth \u00a365 million in exports<\/li>\n<\/ul>\n<p>During the visit, \u00a31.27 billion of deals and market access were secured for the UK financial services industry, creating around 890 jobs:<\/p>\n<ul>\n<li>Shanghai Clearing House has agreed to connect London FinTech company R5FX\u2019s R5 automated currency trading platform onto their systems, providing Chinese Institutional Investors direct access to currency exchanges without needing to go through brokers<\/li>\n<li>Shanghai International Group has signed a deal to invest \u00a3340 million in South Molton Street Capital\u2019s European <abbr title=\"mergers and acquisition\">m&amp;a<\/abbr> fund &#8211; South Molton Street Capital will set up an office in Shanghai in support of this deal<\/li>\n<li>UK FinTech company Currency Cloud has signed a deal with Chinese company X-Transfer to undertake foreign currency exchange for its cross-border payments business<\/li>\n<li>the People\u2019s Bank of China has welcomed applications by Experian to undertake corporate credit rating business and World First to undertake cross border payments business<\/li>\n<li>Standard Chartered Bank (China) has received its lead underwriting licence for non-financial enterprise Panda bonds<\/li>\n<li>Shanghai Pudong Development Bank has secured a licence to open its first European branch in London &#8211; the \u00a374 million investment will create an additional 20 UK jobs<\/li>\n<li>\u200aInnovate Finance and the National Internet Finance Association of China (NIFA) have signed an <abbr title=\"memorandum of understanding\">MoU<\/abbr> to cooperate on supporting and promoting the UK and China\u2019s leading FinTech hubs and member firms<\/li>\n<\/ul>\n<p>Consumer sector deals worth over \u00a32 billion have been agreed:<\/p>\n<ul>\n<li>JD.com, one of China\u2019s largest <abbr title=\"Business to Consumer\">B2C<\/abbr> online retailers, has <a href=\"https:\/\/www.gov.uk\/government\/news\/jdcom-commits-2-billion-to-bring-uk-products-to-chinese-consumers\">signed an agreement with <abbr title=\"Department for International Trade\">DIT<\/abbr><\/a> committing to sales of \u00a32 billion of British retail goods and food and drink over the next 2 to 3 years &#8211; up to 50 jobs are expected to be created as a result<\/li>\n<li>JD.com has also announced a promotional \u2018Super Brand Day\u2019 dedicated to British products which is expected to be worth up to \u00a325 million &#8211; this will run across JD.com\u2019s platforms including retail, <abbr title=\"fast-moving consumer goods\">FMCG<\/abbr> and food and drink<\/li>\n<\/ul>\n<p>Announcements valued at \u00a31.36 billion within the energy and infrastructure sectors have been secured, including:<\/p>\n<ul>\n<li>BP has agreed a deal with the Shandong Dongming Petrochemical Group. The agreement will see over 500 petrol stations in China open over a 10 year period &#8211; this investment milestone demonstrates BP\u2019s continued commitment to growth in China\u2019s oil and gas sector through outward direct investment<\/li>\n<li>Zaha Hadid Architects has won an architectural design contract for a new iconic building in Wuhan &#8211; the project will host the headquarters of the Taikang Insurance company, alongside residential and retail areas<\/li>\n<li>an agreement by Savills Property Services with Wuhan\u2019s Jian\u2019an District to set up Savills in Wuhan &#8211; this office will be responsible for Savills\u2019 central China business and will allow Savills to develop its wider presence in China<\/li>\n<li>China Resources to take a 30% stake in Dudgeon offshore wind farm worth up to \u00a3600 million has now received competition clearance from the Chinese authorities<\/li>\n<li>a <a rel=\"external\" href=\"https:\/\/www.beltandroad.london\/\">Belt and Road website for London<\/a>  has been created by London &amp; Partners and the City of London Corporation, and is a step to help create awareness about the Initiative and how UK firms can play a role<\/li>\n<\/ul>\n<p>Agreements valued at over \u00a3550 million have been agreed within the education sector, creating more than 800 jobs, including:<\/p>\n<ul>\n<li>Xi\u2019an Jiaotong-Liverpool University (XJTLU) \u2013 a joint venture university of the University of Liverpool \u2013 is to build a new campus in Taicang &#8211; the new campus will develop strong links with industry to develop leading graduates in science and technology<\/li>\n<\/ul>\n<p>Announcements valued at over \u00a3500 million have been secured within the life sciences and healthcare sectors. For example:<\/p>\n<ul>\n<li>Cambridge Science Park to receive a \u00a3200 million investment from world-leading science facility Tsinghua University Holdings to build a state-of-the-art biohub, providing labs and offices for UK and Chinese biotech and med-tech companies<\/li>\n<li>digital health company Medopad has signed a \u00a336 million deal with China Resources to develop health care apps &#8211; Medopad will also collaborate with Internet retail giant Tencent to advance digital health solutions in the UK and China<\/li>\n<li>AstraZeneca and Ali Health (Alibaba) have signed an <abbr title=\"memorandum of understanding\">MoU<\/abbr> to partner on Internet of Things-enabled smart healthcare provision across China, and also with Tencent to tackle medicine counterfeiting and enhance the protection of intellectual property rights in China &#8211; both MoUs support AstraZeneca\u2019s ambition to partner with the Chinese government in achieving its Healthy China 2030 plan<\/li>\n<li>Future Planet Capital and Eight Great Technologies have signed <abbr title=\"memorandum of understanding\">MoU<\/abbr>\u2019s with Shenzhen Gian Hai Sunflower Financial Service and Jian Xin Tian Ran Investment Management Ltd., to invest RMB 3 billion (around \u00a3310 million) into healthcare innovation and bio-technology between the UK and China<\/li>\n<li>Eight Great Technologies and Tsinghua University\u2019s venture capital business Leaguer International Co. signed an <abbr title=\"memorandum of understanding\">MoU<\/abbr> to form a joint venture called the Eight Great Technologies Sino-UK Fund -this is a RMB 5 billion (\u00a3560 million) venture capital fund to invest in UK technology companies first in the UK before scaling to China<\/li>\n<li>Eight Great Technologies and Jiangsu Industrial Technology and Research Institute (<abbr title=\"Jiangsu Industrial Technology and Research Institute\">JITRI<\/abbr>) have signed an <abbr title=\"memorandum of understanding\">MoU<\/abbr> to establish the Eight Great Technologies <abbr title=\"Jiangsu Industrial Technology and Research Institute\">JITRI<\/abbr> Fund &#8211; this is a RMB 1 billion (\u00a3110 million) venture capital fund which will invest in the development and up-scaling of emerging UK technologies in China<\/li>\n<\/ul>\n<p>Creative sector announcements valued at \u00a3287 million have been secured leading to the creation of 376 new jobs. Amongst others, these include:<\/p>\n<ul>\n<li>Silvergate Media and CCTV Animation will jointly produce the fifth season of the award-winning British children\u2019s animation Octonauts &#8211; the new British-Chinese co-production will be broadcast globally, including by the BBC in the UK and by CCTV in China, with a further 2 seasons planned<\/li>\n<li>UK technology company Improbable and leading Chinese internet technology company NetEase have signed an agreement to begin a broad partnership to make and publish games built on SpatialOS, Improbable\u2019s cloud-based platform for game development<\/li>\n<li>leading UK design company PriestmanGoode has signed an <abbr title=\"memorandum of understanding\">MoU<\/abbr> with Hainan Airlines to deliver design services covering aircraft, cabins, airport and ground services on an ongoing basis<\/li>\n<\/ul>\n<p>Food and drink, and agri-food announcements worth \u00a3137 million have been secured, creating 30 new jobs. These include:<\/p>\n<ul>\n<li>Bulkpowders, a leading UK producer of sports nutrition products, has secured an exclusive import and distribution agreement with Shanghai Happydo International for its range of nutrition powder and snack products<\/li>\n<li>Freshways (Dairy) UHT Division, the UK\u2019s largest independent processing dairy company, has signed a variety of import and partnership agreements with companies including Youle Trading Shanghai, Appy Foods and Yeo Valley for the production and sale of various dairy products in China<\/li>\n<li>Moma Cereal, made with wholegrain British jumbo oats, has signed several distribution agreements with numerous high profile national China retailers including OLE Stores, City Super Stores, City Shop and online platforms JD.Com and VIP.com through their China partners Sticksology<\/li>\n<\/ul>\n<p>In addition, market access deals have been secured with the potential to open up markets upwards of \u00a3530 million:<\/p>\n<ul>\n<li>\n<p>a commitment of lifting <abbr title=\"Bovine spongiform encephalopathy\">BSE<\/abbr> restrictions by summer 2018, supporting our beef market access negotiations, valued at \u00a3250 million in the first 5 years<\/p>\n<\/li>\n<li>\n<p>approval of market entry for dairy products, valued at \u00a3280 million in first 5 years<\/p>\n<\/li>\n<\/ul>\n<h3 id=\"for-further-information\">For further information:<\/h3>\n<ul>\n<li>contact the <abbr title=\"Department for International Trade\">DIT<\/abbr> Media Team on 020 7008 3333 or 020 7215 2000 (out of hours)<\/li>\n<li>follow us: <a rel=\"external\" href=\"http:\/\/www.twitter.com\/tradegovuk\">@tradegovuk<\/a>, <a href=\"https:\/\/www.gov.uk\/dit\">gov.uk\/dit<\/a>\n<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>International Trade Secretary Dr Liam Fox today (3 February) welcomes over \u00a39 billion of new commercial deals and the creation of more than 2,600 new UK jobs.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"_links":{"self":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/88684"}],"collection":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=88684"}],"version-history":[{"count":0,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/88684\/revisions"}],"wp:attachment":[{"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=88684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=88684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mostafa.openonline.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=88684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}