13 projects showcased to Chinese investors for Northern Powerhouse

A portfolio of 13 projects offering more than £5Bn of opportunities to Chinese investors will be published.

Billions of pounds of investment opportunities in the Northern Powerhouse will be showcased today, ranging from doubling the size of MediaCityUK in Salford, to working with Liverpool City Council on major regeneration projects delivering 1,000 new homes.

A total of 13 projects will be showcased offering more than £5Bn of opportunities to Chinese and international investors.

The projects will be unveiled by Chancellor, Phillip Hammond, and supported by Northern Powerhouse Minister, Andrew Percy and International Trade Secretary, Dr Liam Fox.

The portfolio will be launched as part of the eighth UK-China Economic and Financial Dialogue (EFD), which will involve a series of events over a two-day period, including discussions on trade, financial services, infrastructure and energy.

Chinese Vice Premier Ma Kai, who brings with him the most senior Chinese delegation to the UK this year, will also have meetings with the Prime Minister and Bank of England Governor Mark Carney, with a focus on creating a stronger strategic partnership between the UK and China – the world’s second largest economy.

The Chancellor of the Exchequer, Philip Hammond said: “As we seek to take to take the golden era of UK China relations to the next step, we have a major opportunity to open up investment opportunities across the Northern Powerhouse.

“This portfolio, opening up billions of pounds of investment ready projects to Chinese investors, will support our work to grow and create jobs across the north, as well as underpin our ambitions to bring world class infrastructure to every corner of Britain.

Northern Powerhouse Minister Andrew Percy said: “Building the Northern Powerhouse is at the heart of our efforts to create an economy that works for everyone.

“Investors from abroad know that the North has some of the world’s best and most talented entrepreneurs and businesses, and today we’re showcasing 13 oven-ready opportunities to them which could create thousands of jobs for years to come.

International Trade Secretary, Dr Liam Fox said: “Attracting trade and investment is the foundation of our strong economy, helping to create local jobs, build local businesses and contribute to our national wealth.

“These real-time and market-ready projects will build on the successes of the Northern Powerhouse region, which has for centuries been a global hub of commerce, science, technology and innovation. Setting out opportunities like these show to Chinese investors, and to the world, that the UK remains open for business.

The Department for International trade will also confirm that they are working with 15 Chinese investors on property development and infrastructure projects in the North of England.

Last week, the Department for International Trade brought almost 60 delegates on their first-ever Midlands Engine trade mission to China, where delegates from a wide range of sectors and representatives from local government met with their Chinese counterparts to develop trade, investment, higher education and regional relationships. Between 2010 and 2015, exports of goods from the Midlands to China have more than doubled to £4.5 billion.

 

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