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Britain says it welcomes China to invest in non-strategic parts of the economy

This week, the minister hosting the UK’s Global Investment Summit said China will continue to invest in non-strategic parts of the UK economy and boost Saudi investment in the Newcastle United Football Club, despite human rights issues. Said to welcome.

The new Secretary of State for International Trade, Anne-Marie Trevelian, argued that this week’s meeting was attended by 200 major investors, “soaring” global interest in the UK, especially the green economy.

But she acknowledged that Britain as an open economy is vulnerable to supply chain shocks and that Christmas could be confused by global trade issues.

“The clear message we’re hearing is that there’s a mess that will last for months,” she said in an interview with the Financial Times.

Trevelian, a candid Britain who replaced Liz Truss as a trade secretary last month, is a solid favorite of British Prime Minister Boris Johnson. Her use of phrases such as “world-leading” and “rocket boost” comes from the same glossary used by Johnson.

She revealed that despite concerns over human rights abuses, Britain is not worried about China’s or Saudi Arabia’s investment in most parts of the economy. “We want people who want to invest to do it,” she said.

Trevelian, who has been a member of parliament since 2015 on behalf of Berwick-upon-Tweed’s northeastern England seat, has no concerns about the Saudi-led acquisition of Newcastle United, and her members It wasn’t. “No one is excited and not bouncing off the wall,” she said.

“This investment comes from a sovereign investment fund for investing in business proposals,” she said. “This is to support the growth of the club.”

Chinese telecommunications company Huawei has been kicked out of the UK’s 5G network, and the minister is worried about China’s role in the UK’s nuclear industry, Trevelyan said. The value and importance of working here. “

Treberian will welcome investors and financiers at a conference at the Science Museum in London on Tuesday, followed by a royal reception at Windsor Castle.

Ministers hope that the Investment Summit will create an inward investment transaction for the UK by bringing together some of the world’s top financiers, although it has not set specific goals. Most of the participants come from outside the UK, but they are already doing business in the UK.

Participants include Bill Gates, Larry Fink, Steve Schwarzman, Jamie Dimon and Jes Staley, the bosses of BlackRock, Blackstone, JPMorgan Chase and Barclays, respectively.

The summit is related to the UN COP26 Climate Change Summit in Glasgow next month, and Trevelyan’s enthusiasm for “green” investment represents a significant shift in her position.

Between 2010 and 2012, she sent a series of tweets denying that the ice cap had melted and claiming that “global warming wasn’t really happening,” but she now I realized I was wrong.

“I wasn’t in tune with it — I was busy running a small business at home, I had kids,” she said. “Honestly, that wasn’t the focus of my agenda.” David Attenborough’s Blue planet It was Epiphany with her son.

Regarding the UK’s 2050 Net Zero target, she said: We have set a real challenge, but say it is a world-leading effort and we understand the pace at which it needs to go. “

Trevelian spoke on the top floor of London’s Leadenhall Building at the start of a new investment in communications over the capital’s transport network, saying the trade deal between Australia and New Zealand is “on the verge of completion.” rice field.

She “wanted” a free trade agreement with the United States during Joe Biden’s first term as president, but much of Washington is skeptical.

Meanwhile, she wanted to join a comprehensive and progressive agreement on the Trans-Pacific Partnership “by the end of next year,” when Britain began negotiations to join the trade bloc last month.

“It’s a great free trade relationship with many countries like us, and we absolutely believe in free trade and fair competition,” she said. The 11 CPTPP members are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

She said she is keen on further bilateral trade relations with individual European countries after a recent “export-investment partnership” agreed with Italy on the margins of the G20 meeting in Sorrento.

Trevelian, whose mother is French, struck a settlement when talking about future trade negotiations with a European partner. She described the EU as “our closest and beloved neighbor” and said there was no need to “thaw” the frosty relationship.

“That doesn’t mean you don’t sometimes wrestle with your family, but they’re a family,” she added. “I hope that the current frustration is over and we can embark on an incredibly powerful and intertwined trade relationship.”

Britain says it welcomes China to invest in non-strategic parts of the economy

Source link Britain says it welcomes China to invest in non-strategic parts of the economy

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