A UK-China Infrastructure Alliance is set to put UK firms at the forefront of opportunities to work with Chinese companies on infrastructure projects in both countries.
In a speech yesterday during Chinese president Xi Jinping’s UK visit, prime minister David Cameron announced that he had discussed with China’s leader how the two countries could better work together through the alliance.
He said: “President Xi and I have discussed how we can build on these ties through the UK–China Infrastructure Alliance. This will place UK firms at the forefront of opportunities to work with Chinese companies on infrastructure projects, including President Xi’s One Belt One Road initiative and our own Northern Powerhouse.”
Downing Street said a memorandum of understanding on cooperation in infrastructure and public sectors franchise had been signed by chancellor George Osborne and Xu Shaoshi, the chairman of China’s National Development and Reform Commission.
The One Belt One Road initiative promotes development within road, rail, air, energy, pipelines, telecoms and logistics from China through to the UK, including the countries in-between.
China-Britain Business Council head of research Stewart Ferguson told NCE: “Britain is now being recognised as an intelligent partner of China. People, companies, investors and industry recognise that the UK understands its ambitions for development. We’re being asked by members to help make introductions.”