Chancellor George Osborne today announced that the UK has agreed to allow Chinese financial institutions to directly invest in UK infrastructure projects or related bonds and funds.
Osborne also announced that China signed a Memorandum of Understanding (MoU) on enhancing co-operation in infrastructure and will establish a joint Infrastructure Task Force. Another MoU was signed on energy to further develop practical co-operation on renewable energy issues, particularly offshore wind.
“The UK offers an attractive investment opportunity to Chinese investors and a gateway for further investment into Europe,” Osborne said.
“Today we have agreed a way forward for infrastructure investment. A joint UK-China Infrastructure Task Force will work together to increase investment flows into infrastructure projects. Both our countries remain committed to further advancing bilateral trade and investment to achieve a virtual doubling in our bilateral trade to $100bn (£62bn) by 2015.”