LONDON, June 18 (AFP): Britain and China signed trade deals on Tuesday worth more than £14 billion ($28 billion, 17 billion euros), during a visit to London by Premier Li Keqiang aimed at resetting economic and diplomatic ties.
Links between Britain and China were strained after British Prime Minister David Cameron met exiled Tibetan spiritual leader, the Dalai Lama, in 2012.
But Li and Cameron said they were now focused on strengthening British and Chinese economic ties after concluding deals and holding talks at Cameron's Downing Street office.
"Today we have signed deals worth more than £14 billion, securing jobs and long-term economic growth for the British and Chinese people," Cameron told a joint press conference.
"Ours is truly a partnership for growth, reform and innovation."
The largest deal was a £12 billion agreement between British energy giant BP and Chinese state-owned peer CNOOC to supply China with 1.5 million tonnes of liquefied natural gas per year over 20 years from 2019.
China Minsheng Investment Corporation, China's largest private sector investment group, will open its European headquarters in London, with an investment of around £1.5 billion in a range of sectors.
Meanwhile, Royal Dutch Shell, the Anglo-Dutch oil giant, signed a cooperation agreement with CNOOC covering upstream, midstream and downstream activities.
Last year, British exports to China averaged more than £1 billion each month, while more than £8 billion of investment flowed the other way in 2013 to 2014.
China, Britain ink trade deals worth $28 billion
FE Team | Published: June 19, 2014 00:00:00 | Updated: November 30, 2026 06:01:00
Share if you like