Deals worth than £40bn were announced between China and Britain
when China's President Xi Jinping visited the UK in October.
China’s investment in business and infrastructure in the UK has increased by almost 500 per cent in just the past six years, analysis has revealed.
Chinese companies have splurged £3.8bn on 20 mergers and acquisitions so far this year compared with just nine deals worth £666m in 2010 – a rise of more than 470 per cent.
This year’s total has already outstripped the £2.1bn spent by Chinese firms last year – according to figures produced by financial data analysts Dealogic – and shows how the Government’s cosy relationship with Beijing is reaping huge benefits.
The analysis comes after it was reported last week that China is now the biggest oil producer in the North Sea with China’s state-controlled China National Off-Shore Oil Corporation taking over the two biggest fields to pump out nearly 200,000 barrels a day.
The Chinese have already pumped about £29bn into UK investment and contracts since 2005 and have taken a huge stake in the nation’s real estate, football clubs and household companies including Weetabix, according to separate figures from the American Enterprise Institute and the Heritage Foundation.
The biggest draw for the Chinese has been real estate, with £9.5bn invested since 2005, followed by energy, finance and agriculture.
Transport, metals, entertainment and technology have also received billions of Chinese cash. Technology and energy have had the biggest investments this year.
A 2014 report by international law firm Pinsent Masons and the Centre for Economic and Business Research also found that China is set to invest a “game-changing” sum of £105bn in UK infrastructure by 2025.
Business leaders have welcomed China’s growing British investment portfolio, which they say will be ever more vital after Brexit.
iNews
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