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Chinese businesses have pledged hundreds of millions of pounds’ worth of investment in the U.K. and struck new partnerships with British peers as Prime Minister Keir Starmer’s visit to China spurred a flurry of bilateral business activity and investment flows.
During his four-day visit in China last week, Starmer met Chinese President Xi Jinping and secured deals that would see hundreds of millions worth of new investments from Chinese businesses, in addition to £2.2 billion ($3 billion) worth of exports and £2.3 billion in market access, according to a statement from the prime minister’s office.
Following the high-profile visit, the two leaders hailed the benefits of cooperation, with Xi describing the bilateral ties as “mutually beneficial.” Starmer, who brought a large delegation of executives from banking, pharmaceutical, and automobile companies to China, also described the country as vital to Britain’s interests.
While no sweeping free trade deal was reached, companies across several industries have announced major investments and partnerships aimed at deepening the bilateral ties, including Pop Mart, the toymaker behind Labubu dolls, e-commerce group JD.com, and battery giant CATL.
