Prime Minister Meets Shanghai Party Secretary and UK-China Business Forum Takes Place in Shanghai
The day’s events also included the Shanghai edition of the UK-China Business Forum, which was co-organised by CBBC, and attended by the Secretary of State for Business and Trade Peter Kyle.
In a statement concluding the visit, the UK government stated the PM had “welcomed £2.2 billion in export deals, around £2.3 billion in market access wins over five years, and hundreds of millions worth of new investments.” The full statement can be accessed here.
The day saw the announcement of a series of additional business deals, following on from the milestone MoUs revealed in Beijing on Thursday and Friday.
- Education company Pearson announced two deals with local partners – the first for increasing distribution of its products in China, and the second a collaborative agreement to integrate its curricula into the New Channel schools network.
- Leading energy storage manufacturer HiTHIUM will invest £200 million and create 300 high-quality jobs in UK energy storage.
- Life sciences company Asymchem announced a major expansion of its UK operations that will create 150 highly skilled jobs.
- Labubu producer POP MART confirmed plans to establish London as its regional hub.
The World Snooker Tour announced an event in two Chinese cities worth £15 million over five years.
The variety of deals underlines that, whether in consolidating the UK’s leading role in life sciences or energy, or building on our world-class cultural soft power, the visit has demonstrated the huge potential of the UK-China commercial relationship.
Concluding the visit, the PM stated “We are bringing stability, clarity and a long-term strategy to how we engage with China, so we can bring home the benefits for businesses and for working people. Engaging with China is how we secure growth for British businesses, support good jobs at home, and protect our national security.”