China issues guide to investing in Britain

The Chinese government on Tuesday issued a guide for companies wanting to invest in Britain. The Chinese Enterprises Investment Guide to the UK was published by the Institute for International Economic Research under the National Development and Reform Commission (NDRC), with the support of the British Embassy in Beijing. The guide is targeted at Chinese investors who want to invest in Britain infrastructure, financial services as well as the manufacturing, property and high-end consumer goods sectors. Oliver Letwin, the British Minister for Government Policy, welcomed strong Britain-China cooperation on bilateral investment at the launch of the guide. He said the document would provide practical support to the growing number of Chinese companies that wanted to enter British and European markets. Wang Yiming, deputy head of the Academy of Macroeconomic Research under the NDRC, said China's overseas investment is expected to grow at a double-digit rate to about 100 billion U.S. dollars this year. The guide forms part of China's 'Going Out' strategy, which recognizes the role overseas investment can play in supporting the country's economic development and reform. It is of strategic importance for China to accelerate outward investment and economic restructuring as well as avoid potential trade frictions, said Zhang Yansheng, secretary general of the NDRC's academic committee. There are more than 500 Chinese companies in Britain, and the investment environment is extremely attractive to foreign investors, said Zhang Jianping, NDRC researcher who oversaw the project. China-Britain bilateral trade reached a record high in 2013, surpassing 70 billion U.S. dollars.