Seeing the enormous potential of economic cooperation, Britain is
ready to attract more investment from China.
Claire West, China Country Manager of Invest UK, made the comment
to Xinhua in Beijing Wednesday, adding that China has become the
second largest investor in Britain, next to Japan, from the Asia
Pacific region.
During the fiscal year 2002 to 2003, 22 Chinese companies opened
business organs in Britain, creating 234 local job opportunities.
This tripled the number of Chinese companies investing in Britain
from 50 three years ago to 150.
Some well-known Chinese companies, such as Petrochina,
chose to set up their first headquarters in Britain for European
business.
"I
am delighted to see the increasing investment from China in
Britain, as Chinese companies will find a sound environment there
for their business," said West.
Investment in software and high value-added technology remained
vibrantly growing in Britain despite the ongoing downturn in IT
industries, she said.
Britain, as the largest research and development base in Europe for
the United States and Japan, has also attracted investment from 70
percent of manufacturers in Hong Kong and Taiwan. The reputable
Chinese Haier Group has also cooperated with British company CCT on
a research and development center.
West pointed to low market entry, flexible and ample work force and
world-class universities with leading research facilities as the
major factors attracting global investors.
Her words were recently illustrated as the Shanghai Government
Overseas Investment Development Board and the Fujian Software
Alliance both chose Britain for their first European offices.
Invest UK is the British governmental administration for promoting
foreign investment. A newly released annual report of Invest UK
showed that Britain remained the leading country in Europe in
foreign investment.
In
the first three months this year, a total of 709 projects using
foreign investment were reported to Invest UK, including new
projects, business expansions and acquisitions with 35
countries.
(Xinhua News Agency July 16, 2003)