Source: CCTV.com
01-17-2008 11:07
Special Report: British PM visits ChinaThe United Kingdom's accumulated investment in China reached nearly 15 billion US dollars as of the end of November. And it continues to be the number one EU country investing in China, according to the Ministry of Commerce.
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| The United Kingdom's accumulated investment in China reached nearly 15 billion US dollars as of the end of November.(Photo:11cr.cn) |
The Ministry of Commerce said on Wednesday that the UK had participated in nearly 5800 investment projects in China as of the end of November.
Sun Yongfu, Director of Europe Div. of Ministry of Commerce said "The UK continues to be the biggest investor in China among EU member countries, with accumulated investments reaching 15 billion US dollars."
Shell is the biggest UK investor in China. Its single investment in a chemical project in Guangdong Province amounted to 4.5 billion US dollars.
As one of the earliest European countries to successfully enter the Chinese market, the UK has seen its bilateral trade with China boom since Hong Kong was returned to China in 1997. The two countries established a cooperative partnership a year later. And their trade has surged from five billion to 40 billion US dollars in ten years.
Sun Yongfu said "Leaders of the two countries set up a goal in 2004, to increase bilateral trade to 40 billion US dollars by 2010. Apparently, we have already reached that goal."
The UK is China's fifth largest technology importer in the EU. China has expressed the hope that the UK will promote bilateral technology exchanges.
The two countries' economic ties are particularly strong in the energy, chemical and financial fields. The Ministry of Commerce expects a number of economic agreements, concerning green energy and sustainable urban development, to be signed during Prime Minister Gordon Brown's visit this week.
Editor:Xiong Qu
