Sajid Javid today (19 June 2015) saw the signing of commercial MoUs and contracts between UK and Chinese companies worth around £30 million.
The Secretary of State for Business, Innovation and Skills, Sajid Javid, met with Chinese and British companies in London to help strengthen the UK and China commercial collaboration across trade and investment.
The Business Secretary welcomed the growing presence of Beijing firms in the UK and encouraged further inward investment.
He also highlighted the UK’s involvement in major projects in China, including the building of Beijing’s new International Airport.
Guests included H.E. Mr Liu Xiaoming, Chinese Ambassador to the UK and representatives from UK and Chinese companies.
Signing of Memorandum of Understanding (MOU) and contracts between UK and Chinese companies
Sajid Javid met with Mr GUO Jinlong, Secretary of the Beijing Municipal Committee and Member of the Political Bureau.
They witnessed the signing of 4 MOUs and contracts worth a total of £30m including:
- unveiling ceremony for Bluefocus - Asia’s largest marketing agency who have a 83% majority equity stake in UK-based PR Agency ‘We Are Social’ worth £21.5m
- a new design and build contract worth £7.5m for BCEGI Construction (UK) Ltd to build a new logistics facility called ALPHA at Airport City Manchester’s Global Logistics Site
- memorandum of understanding between Beiqi Foton Motor Co. Ltd and Ricardo UK Ltd on strategic cooperation in powertrain products development
- a service contract between Beiqi Foton Motor Co. Ltd and Ricardo Shanghai Co. Ltd to develop a 1.0L gasoline engine to help Beiqi Foton improve its engine efficiency and meet new emission and fuel consumptions standards in China