Rail investment opportunities in the North West will be top of the agenda, as The Department for International Trade – in partnership with the Alliance Manchester Business School – holds the latest instalment of the UK-China Infrastructure Academy in Manchester later this month, part of a major initiative to further boost regional investment opportunities.
The Academy is running programmes regularly for the next two years, with closer cooperation set to bring economic growth and create even more jobs from FDI & Capital Investment in the North West – more than 30,000 jobs have already been created in the region from FDI since 2012.
This edition’s programme will focus on the rail sector, and will include opportunities to learn from industry experts as well as about integrated transport systems at Manchester Piccadilly rail station and Manchester Airport.
A delegation of senior Chinese businesses and government officials will again be in attendance for the Academy, a unique platform designed to bring together UK and Chinese infrastructure capabilities and attract Chinese investment into UK infrastructure projects.
The previous programme, which took place earlier this year, focused on the energy sector and how to deliver best practices for investing in major infrastructure projects in the UK.
Delegates heard from a range of speakers including Mayor of Greater Manchester Andy Burnham and Sir Howard Bernstein on what the Northern Powerhouse has to offer. Chinese businesses also visited Manchester City Football Stadium and Drax Power Station.
Minister for Investment, Graham Stuart said:
“The UK-China Infrastructure Academy programme is incredibly important for the infrastructure sector here in Manchester and as an international economic department, we’re helping to attracting foreign investment to the Northern Powerhouse.
“China as a world leading economy and the UK’s fifth largest trading partner is an important market for British companies as we look to build independent trading relationships across the world.”
Professor Dame Nancy Rothwell, President and Vice Chancellor of The University of Manchester, said:
“Our support in delivering this UK-China Infrastructure Academy Programme is another significant development in building on our strong relationship with China.
“I am delighted that we are able to deliver this prestigious joint initiative between the UK and Chinese governments. Alliance Manchester Business School and the University are home to some of the leading experts on business links between our two countries and we have put together a programme for the delegates that will foster relationships, and encourage infrastructure investment.”
This comes as International Trade Secretary Liam Fox joined the Prime Minister for a three-day visit to China at the start of February, designed to boost trade and investment after Brexit.
Trade between the two countries is already at record levels, worth over £59 billion, and UK exports to China have grown by over 60% since 2010.
The UK is already one of the largest European recipients of Chinese Foreign Direct Investment. The UK is the world’s largest exporter of financial services and UK firms are leaders in China’s market.
- The UK is the Europe’s number one destination for inward investment and third in the world for inward FDI stock, behind the USA and China (including Hong Kong).
- DIT supported 1,859 of 2,265 FDI projects coming into the UK in 2016/17, up 45% on 2012/13.
- FDI accounts for more than 107,000 jobs across the country.
Notes to editors
- The UK-China Infrastructure Academy programme is part of the UK- China Infrastructure Alliance which was launched in 2015 on the state visit. In the “UK-China Joint Statement” published during Chinese President Xi Jinping’s State Visit to the UK in October 2015, both countries agreed to establish a UK-China Infrastructure Alliance to promote policy and commercial collaboration on infrastructure in each other’s markets and in third country markets.
- China export data based latest ONS export statistics: (https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/uktrade/december2017)
- Latest FDI statistics provided by the Department for International Trade:https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/625682/DIT_Investment_Results_2016-17-A5-digital.pdf
- Contact the DIT Media and Digital Team on 0207 215 2000
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