Chinese vice-premier in London as UK seeks investment

AP News
Posted: Nov 10, 2016 6:42 AM
Chinese vice-premier in London as UK seeks investment

LONDON (AP) — China's vice-premier is holding talks Thursday with Britain's Treasury chief as the two countries try to smooth over a rocky patch in their growing economic relationship.

Chancellor of the Exchequer Philip Hammond is meeting a delegation led by Vice Premier Ma Kai as Britain seeks more Chinese investment in U.K. infrastructure.

"The mutual benefits are clear," Hammond said, noting that China is the world's second largest economy.

Ma is also meeting Prime Minister Theresa May.

The U.K.-China relationship wobbled in July when May unexpectedly delayed approval of a nuclear power plant being built with Chinese investment. May eventually approved the Hinkley Point power plant in September.

"I'm determined that as we leave the European Union, we build a truly global Britain that is open for business," she said in a statement ahead of the talks.

She said Britain and China were in a "golden era of relations" — echoing a phrase used by Chinese President Xi Jinping during a state visit to Britain last year.