Britain holds talks with China to seek investment after Brexit

[LONDON] Prime Minister Theresa May and Chancellor of the Exchequer Philip Hammond are holding talks with Chinese Vice-Premier Ma Kai as Britain pushes for investment following the Brexit vote.

The so-called UK-China Economic and Financial Dialogue on Thursday will cover trade, financial services, infrastructure and energy, with the government detailing a portfolio of potential investments in northern England for Chinese businesses, the Treasury said in a statement.

Ms May, who has just returned from a visit to India that was dominated by a dispute over visa access, will hope for more success with the Chinese delegation as she tries to show Britain is actively forging trade deals outside the European Union. Mr Ma will also meet Bank of England Governor Mark Carney.

"I'm determined that as we leave the European Union, we build a truly global Britain that is open for business," Ms May said in a statement.

"I am excited about the opportunities for expanding trade and investment between our two countries."

The Treasury announced that Citic Construction will invest £200 million (S$350 million) in phase one of the £1.7 billion London Royal Albert Docks project, being developed by Chinese developer ABP.

The government will also invest as much as £40 million in the Asian Infrastructure Investment Bank in Beijing to help developing countries prepare infrastructure programmes.

BLOOMBERG