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23/09/2015
Chancellor Makes Historic Visit To North West China
The Chancellor George Osborne will today (Wednesday) make a historic visit to Urumqi, in the region of Xinjiang, North West China.
The Chancellor is the first serving government minister to visit the region.
Ahead of his visit Chancellor Osborne welcomed a major new investment in the Northern Powerhouse by a Xinjiang-based firm and announced a new aim to make China the UK's second largest trading partner.
The Chancellor visited Hualing Industry and Trade Group which today announced its intention to provide the investment needed to unlock three major property projects in Manchester, Leeds and Sheffield with a gross value of £1.2 billion.
The three projects, which are being led by the UK's Scarborough Group, are expected to create 18,000 jobs and enable the delivery of 10,000 much-needed new homes, helping to build the Northern Powerhouse.
According to the latest available trade figures from the Office for National Statistics, China is currently the UK's sixth largest trading partner, with British exports to the country totalling £25 billion in 2013.
Speaking on his visit to Urumqi, Chancellor George Osborne said:
"China's emerging regions, like Xinjiang, hold enormous potential in the years ahead.
"That's why I wanted to come here today to see this place for myself, and highlight Britain's absolute commitment to support the growth of Urumqi together with the whole of the Xinjiang region.
"We are building an ever closer relationship with China – it's a partnership that is set to unleash growth and help regions like Xinjiang where we know investment can make a real difference, as well as unleash new growth back home, in places like our own Northern Powerhouse."
(MH/CD)
The Chancellor is the first serving government minister to visit the region.
Ahead of his visit Chancellor Osborne welcomed a major new investment in the Northern Powerhouse by a Xinjiang-based firm and announced a new aim to make China the UK's second largest trading partner.
The Chancellor visited Hualing Industry and Trade Group which today announced its intention to provide the investment needed to unlock three major property projects in Manchester, Leeds and Sheffield with a gross value of £1.2 billion.
The three projects, which are being led by the UK's Scarborough Group, are expected to create 18,000 jobs and enable the delivery of 10,000 much-needed new homes, helping to build the Northern Powerhouse.
According to the latest available trade figures from the Office for National Statistics, China is currently the UK's sixth largest trading partner, with British exports to the country totalling £25 billion in 2013.
Speaking on his visit to Urumqi, Chancellor George Osborne said:
"China's emerging regions, like Xinjiang, hold enormous potential in the years ahead.
"That's why I wanted to come here today to see this place for myself, and highlight Britain's absolute commitment to support the growth of Urumqi together with the whole of the Xinjiang region.
"We are building an ever closer relationship with China – it's a partnership that is set to unleash growth and help regions like Xinjiang where we know investment can make a real difference, as well as unleash new growth back home, in places like our own Northern Powerhouse."
(MH/CD)
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