Chancellor George Osborne has today said there are “unprecedented opportunities” for China to invest in the Northern Powerhouse.
The Chancellor showcased a selection of investment opportunities worth £24Bn at an event held at the city of Chengdu in China and spoke of the UK and China entering a “golden era of cooperation” that would strengthen economic links.
The Northern Pitchbook was presented to senior investors and included infrastructure and regeneration investment projects such as Atlantic Gateway, which will see a series of projects connecting the Port of Liverpool to the City of Manchester and also Science Central, a cutting-edge development in the heart of Newcastle.
Investment is being sought for key projects including:
Manchester Place, which will create three new areas of more than 10,000 homes with a combined value of over £3Bn.
Sheffield Retail Quarter will look to provide new homes within the city centre and also centrally located offices.
South Bank, Leeds will see the regeneration covering more than 130 hectares in the city centre.
Mr Osborne said: “As we continue to work more closely with China, we have an unprecedented opportunity to secure significant investment into some of our most ambitious projects across our Northern Powerhouse.
“From Liverpool to Newcastle, we are opening up our doors to investment that will not only help us to grow and create jobs, but will allow us to build infrastructure to rival any region in the world.
“The North of England is already a magnet for foreign investment into the country and we’ve seen with announcements from Nissan and Hitachi into the North East recently highlighting how perfectly poised our Northern Powerhouse is to attract the eye of global companies.”
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