Theresa May to sign investment pact with China

Theresa May - credit Michael Kappeler/DPA/PA 

Prime Minister Theresa May has hailed the “next step in this golden era” of UK-China relations as the Government announces a fresh wave of infrastructure deals between the two countries.

May announced the investment as Chancellor Philip Hammond welcomed Chinese vice premier Ma Kai to Britain for talks on “building the relationship” between the two powers.

The visit comes a week after it was reported the Scottish Government’s £10bn pact with two Chinese firms had collapsed following what Nicola Sturgeon called “a climate of hostility”.

The Sunday Times reported the deal had been known in China as 'the Scottish shambles'.

The Conservatives in Scotland criticised the SNP for “secrecy” over the deal, while other parties had questioned the human rights record of Chinese firms.

Yesterday May said: “I’m determined that as we leave the European Union, we build a truly global Britain that is open for business.

“That is the message I took to India this week, and that’s the message I will be giving Vice Premier Ma Kai on his visit to the UK.

“As we take the next step in this golden era of relations between the UK and China, I am excited about the opportunities for expanding trade and investment between our two countries.”  

Chancellor Mr Hammond meanwhile said: “The golden era in UK China relations continue to deepen… The mutual benefits are clear.

“China is the world’s second largest economy; UK exports to China have grown rapidly and Britain is home to more Chinese investment than any other European country.”

The announcement quashes rumours May was less enthusiastic about strengthening ties with China.