UK vendors strike deals in China

10 September 2009

11 September 2009

Chinese and UK companies have signed contracts and investment deals worth more than $500 million (£304 million) this week.

The trade was agreed during UK business secretary Lord Mandelson's (pictured) visit to China and came despite his concerns earlier this week that China is "not keeping the spirit" of fair trade.

In an interview with The Guardian he said: "We need a constant dialogue with the [Chinese] government and to exert quite legitimate pressure; when we are open to Chinese goods and services, it must become progressively and more speedily open to ours."

Among the contracts agreed was the launch of a joint venture between Scottish firm Bridge of Weir Leather Company and Chinese company Zibo Polygrace to supply specialist leather seating to the Chinese automotive industry.

A number of the agreements focused on integrating Chinese businesses with UK suppliers that have expertise on cutting carbon emissions. It will help China meet its environmental and energy efficiency targets, as well as increasing trade between the two countries.

The deals included a £10 million joint venture between the Carbon Trust and China Energy Conservation Investment Corporation aimed at introducing UK low carbon technology companies to the Chinese market.

"Across the board, the UK can offer the knowledge, technology and experience to help our two economies de-carbonise," Mandelson said at a low carbon business forum organised by UK Trade and Investment in Beijing.

"The UK has world-class climate change research institutions and consultancy services in carbon measurement and management. Our architects and engineers are creating designs for the low-carbon cities of the future."

SMsep2009

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