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UK trade minister welcomes investment from China
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UK trade minister Ian Livingston spoke highly of both Chinese and UK institutional efforts to drive trade and said the United Kingdom would remain open towards various forms of investment from China.
Livingston's comments came as a number of deals have been signed at the Great Festival of Creativity being held in Shanghai and organized by UKTI.
"We're very proud to be one of the most welcoming and open countries to Chinese investment," Livingston said today at the festival.
In total, British trade officials estimate the event will bring in 150 million pounds (US$231 million) to the UK economy over the next five years.
Livingston noted that it would also be easier for Chinese banks entering the UK as the country is now the largest offshore center for yuan trading. He said that is a good example of collaborative efforts from both sides.
UK's investment in China doubled in the past five years to US$80.9 billion and Chinese investment in Britain had a compound growth rate of 85 percent in the last five years, according to Livingston.
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