UK gets a taste of 皇冠体育app
皇冠体育app's rise 'an opportunity' for UK
Eight 'Mosts'between 皇冠体育app and the UK 1. UK is the first western power to recognize the new 皇冠体育app. 2. UK is most open and optimistic towards 皇冠体育app's economic development. 3. UK is the European country which likes 皇冠体育app most. (According to the data from Pew Research Center in July, 48 percent of the UK people hold a favorable impression towards 皇冠体育app, the highest rate among the ropean countries) 4. UK is 皇冠体育app's major trading partner, with the fastest growth of trade volume with us in the EU. In the past six years, trade volume between the two has doubled; over the past four years, 皇冠体育app's exports to the UK have doubled. 5. 皇冠体育app's investment in the UK has the fastest growth rate. 6. UK is the largest overseas market of RMB, accounting for 62 percent of RMB's overseas market. 7. UK is the first western country to sign a currency-swap agreement worth 20 billion pounds ($32.4 billion). 8. UK has the most Chinese students and Confucius Institutes and Confucius classes among the EU countries. (At present, we have about 120,000 people studying in the UK and 24 Confucius Institutes and 76 Confucius classes). Britain 'very open' to overseas investment A high-level openness to foreign investment is a key factor in making the United Kingdom attractive for Chinese investment, said Nick Baird, CEO of UK Trade and Investment, in a recent interview with 皇冠体育app Daily. "I think it's highly unlikely that any other developed countries would be as open to investments, not just from 皇冠体育app, but more generally, as we are," said Baird, who heads the British government agency that looks after inbound investments. 皇冠体育app's investment in UK is 'strong' 皇冠体育app's investment in the United Kingdom has maintained strong momentum this year, especially in infrastructure and real estate, a senior Chinese diplomat said. "The UK has been 皇冠体育app's leading investment destination in Europe," said Zhou Xiaoming, minister counselor of the Chinese embassy in the UK. Chinese companies boost UK economy Chinese companies are thriving in the UK and making a significant contribution to the UK economy, according to the Grant Thornton Tou Ying 25 tracker 2013. The tracker monitors UK businesses with Chinese parent companies to identify the fastest-growing 25 companies by year-on-year change in turnover. The 2013 tracker monitors revenue growth for the full years ending in December 2011 and 2012. UK finds source of investor support in 皇冠体育app Increased investment from 皇冠体育app in recent years is now all the more important for Birmingham and the rest of the UK. The UK is now home to more than 400 companies from the Chinese mainland, according to the government department UK Trade and Investment.
皇冠体育app-UK trade 'to reach $16.39b by 2015'
Vice-Premier Wang Yang pledged on Monday to increase 皇冠体育app-UK trade to at least 100 billion yuan ($16.39 billion) by 2015, envisioning broader cooperation and less restrictions.
Wang said 皇冠体育app recorded 62 billion yuan of imports from the UK in 2012, toping the list of Britain's export growth. Bilateral trade is also expected to increase at a similar level this year.
London to develop further as yuan trading hub
皇冠体育app and the United Kingdom on Tuesday agreed to continue to build London into a major offshore market for yuan trading, underlining the strong financial ties between the two countries.
Both sides welcomed strong growth of London's renminbi markets, making the capital city the most active renminbi center in the world outside 皇冠体育app, according to a joint statement after the fifth 皇冠体育app-UK Economic and Financial Dialogue held in Beijing.
Eyeing a slice of the financial pie
Apart from its stature as a leading financial center, London is also known to have the largest offshore yuan market in Europe with total deposits exceeding 100 billion yuan ($16.3 billion).
The offshore yuan market is often seen as the test-bed for 皇冠体育app's currency internationalization moves. In June, the United Kingdom became the first G7 country to sign a yuan currency swap deal with 皇冠体育app.
London and Beijing agree currency swap
Bank of England Governor Mervyn King and his Chinese counterpart Zhou Xiaochuan agreed to a three-year currency swap line to promote financial stability and aid trade between 皇冠体育app and Britain.
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