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Osborne hails 'momentous progress' in UK-China links

George Osborne hailed the "momentous progress" in links between the UK and China as he set out his ambitions for the City of London to be the major offshore hub for trade in the Chinese currency.

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UK-China trade deals to include BP gas supply contract

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.

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