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Osborne: 'Huge step forward' in UK-China trade deals

Chancellor George Osborne has welcomed a Pound-Yuan Interbank Market between the two countries, stating that it will help Britain build further links with China, by getting its "currency used and traded in London".

Mr Osborne said that both the UK and China have made "huge steps forward" in building progress, saying that the future belongs to those "ambitious for reform."

Osborne spoke of the importance of the UK-China relationships. Credit: ITV News

In a speech at Lancaster House in London, Mr Osborne said: "I believe the emergence of the Chinese currency as one of the world's leading currencies will be the next huge change in global finance.

"Quite bluntly, I want the City of London to facilitate that change and to be central to it," he said.

UK and China sign £14 billion trade deals

Osborne to hold trade talks with Chinese premier

The Chancellor George Osborne will hold trade talks with the Chinese premier Li Keqiang aimed at deepening Sino-UK trade ties.

Xu Shaoshi, with Business Secretary Vince Cable yesterday. Credit: Reuters

The meeting of the UK-China financial forum, on the final full day of Mr Li's visit to London, comes after the signing yesterday of trade deals between the two countries worth £14 billion.

Yesterday Mr Ling and his wife met with the Queen in Windsor Castle.

Read: The Queen hosts Chinese Premier at Windsor Castle


PM gives Downton Abbey script to China's premier

'Downton Abbey' photo call
Hugh Bonneville, Joanne Froggatt, Michelle Dockery, Shirley MacLaine, Elizabeth MacGovern and Brendan Coyle 'Downton Abbey' photo call Credit: Tammie Arroyo/EMPICS Entertainment

David Cameron gave Chinese premier Li Keqiang a special memento of his trip to the UK - a copy of the shooting script for the first episode of Downton Abbey signed by the hit show's creator.

The period drama, which has been a big hit in China, was written by Julian Fellowes, who was made a Tory peer by Mr Cameron in 2010.

Mr Cameron also handed the premier a special £10 gold coin. The lunar coin was designed by artist Wuon-Gean Ho and celebrates the Chinese year of the horse. The final gift was a DVD box set of works by Charles Dickens.

China backs No vote for Scottish independence

Chinese Premier Li Keqiang
Chinese Premier Li Keqiang during a press conference at the Foreign Office in central London. Credit: Press Association Images/Facundo Arrizabalag

Chinese Premier Li Keqiang said he wanted to see a "united United Kingdom" in an apparent boost for the No campaign ahead of September's Scottish independence referendum.

Mr Li was asked about the referendum at a joint press conference with David Cameron in Westminster.

Mr Li said he wanted a "strong, prosperous and united United Kingdom that can stay at the forefront in leading the world's growth and development."

Scotland's First Minister Alex Salmond responded by saying that "Premier Li is of course entitled to his views" adding "it is noteworthy that he made clear the Chinese government will 'respect the choice' which the people of Scotland make this September whatever it may be".

Osborne: UK China trade deals part of economic plan

Following the announcement of £14 billion worth of bi-lateral trade deals between the UK and China Chancellor George Osborne tweeted:


Connecting British firms to Chinese markets is a key part of our economic plan - bringing jobs and investment to Britain #UKChina


£14bn of #UKChina trade & investment deals announced by PM today – boost to long term growth of both countries

UK-China trade deals to include BP gas supply contract

Chinese Premier Li Keqiang and Britain's Prime Minister David Cameron
Chinese Premier Li Keqiang (L) and Britain's Prime Minister David Cameron laugh during a news conference at the Foreign Office Credit: REUTERS/Facundo Arrizabalaga

An £11.8 billion BP gas supply contract was one of a series of deals unveiled during a visit to the UK by Chinese Premier Li Keqiang.

Other bi-lateral trade deals include the possibility of Chinese involvement in the controversial £50 billion high-speed rail project after the two countries agreed that the UK and Chinese rail industries will work together.

Prime Minister David Cameron signed trade deals worth over £14 billion between the UK and China which he described as a reflection of the popularity of the UK as an investment partner for China.


PM: China trade a 'key part' of govt's economic plan

David Cameron has been tweeting from the first day of the Chinese Premier's UK visit:


Sam and I were delighted to welcome Premier Li and his wife, Professor Cheng-Hong, to the No10 garden.


Read: UK and China sign trade deals worth £14 billion

UK and China sign trade deals worth £14 billion

Chinese premier Li Keqiang and prime minister David Cameron
Chinese premier Li Keqiang and prime minister David Cameron at the Foreign Office, London Credit: Pool

China and the UK have signed business deals worth £14 billion in what Prime Minister David Cameron said was a "growing relationship" and reflected the popularity of the UK as China's country of choice for investment in Europe.

"We've had more Chinese investment into the United Kingdom in the last 18 months than we've had in the whole of the last 30 years combined," he said.

Mr Cameron said the figures proved Britain "was the most open economy in the EU, the most welcoming to Chinese investment," including in the nuclear industry and infrastructure, and was determined to keep it that way.

Campaigners urge PM to raise human rights with China

Campaigners have urged David Cameron to raise China's human rights record during his meeting with the country's premier Li Keqiang.

Mr Li is is accompanied by a team of Chinese business bosses, who are in the UK for the return leg of a trade boosting link-up begun by David Cameron last year.


.@david_cameron mustn't shy away from discussing human rights with #China's Premier during this week's visit:

On the eve of Mr Li's visit, Deputy PM Nick Clegg said the government would not shy away from raising China's "large scale and systematic" human rights abuses.

Activists campaigning for a variety of causes including Tibetan independence staged a noisy protest opposite the gates of Downing Street.

Read: Queen welcomes Chinese premier to Windsor Castle

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