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China-Britain trade tops 2b pounds

Posted by: Mu Ju 2019-12-05 Comments Off on China-Britain trade tops 2b pounds

Trade figures released by UK Trade & Investment (UKTI) show that business between Britain and China is booming.
Between January and May this year, Britain exported more than 2 billion pounds (about 2.94 billion U.S. dollars) of goods and services to China, an increase of 44 percent on the same period in 2007, whereas Chinese imports for the same period to Britain grew 10 percent to 7.763 billion pounds. The figures were announced yesterday as Digby Jones, minister for trade and investment, heads to China as it prepares to pass the Olympic baton to London to mark Britain’s tenure as the next Olympic host.
British firms have been involved in preparations for the Beijing Olympics, from designing Beijing Airport’s new terminal three, helping the design and construction of many Olympic landmarks, such as the Birds Nest stadium and the Olympic swimming pool, to supplying power and temperature controls as well as pumps for waste-water treatment plants to cope with the influx of visitors and athletes.
British Prime Minister Gordon Brown and Chinese Premier Wen Jiabao agreed in January this year to set a trade target of 60 billion U.S. dollars between the two countries by 2010.
The increase in exports to China is mostly obvious in power generating machinery and components for road vehicles.
"As China opens its markets, fabulous opportunities will present themselves for UK companies."

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