Friday, October 18, 2013

RECENT CHINESE INVESTMENTS IN THE UK


China's Beijing Construction Engineering Group (BCEG) - which worked on the 2008 Beijing Olympics' press centre and gymnasium venue- has entered some few days ago a joint venture to build a business centre -Airport city- at Manchester airport -Britain's third busiest airports. BCEG will team up with construction group Carillion, the Greater Manchester Pension Fund and the airport to build the 800 million pound ($1.3 billion) Airport City scheme. BCEG is being backed by assets of China's biggest bank, the Industrial and Commercial Bank of China.

Manchester Airport was looking for partners to help build the new 5 million square foot (500,000 sq m) business centre, intended to boost the airport's role as a business travel hub. Moreover, BCEG's involvement in the Airport City is being seen as an extension of the memorandum of understanding between China and the UK to further explore joint infrastructure opportunities.  

Britain is trying to attract Chinese investment as part of plans to increase bilateral trade to $100 billion by 2015. And Chinese investors are very much interested in performing investments in the UK as the following examples show.

Just a week before, a Chinese billionaire announced plans to spend 500 million pounds to rebuild London's Crystal Palace. And in May, a Chinese developer signed a deal to turn a plot of land near London's City Airport into the city's third financial district.


No comments:

Post a Comment