UK report predicts US$168b investments by Chinese firms
Print Edition
CHINA is expected to invest about 105 billion pounds (US$168 billion) in the United Kingdom over the next decade with domestic companies increasingly looking at Western markets, experts said yesterday.
The UK transport and real estate sectors will receive 19 billion pounds and 36 billion pounds, respectively, over the next decade, while the firms will also invest in water, telecommunications and waste-management facilities, UK-based law firm Pinsent Masons and the Centre for Economic and Business Research said in a report.
“The big change we’re seeing is Chinese businesses now becoming co-funders and co-contractors in UK infrastructure projects, rather than making indirect investments through sovereign wealth funds like China Investment Corp,” said Helena Chen, infrastructure partner in Pinsent Masons China.
The UK was ranked as the third-most attractive destinations for Chinese foreign direct investment in infrastructure — after the US and Japan — due to its transparent business environment, under-capitalized infrastructure sector and close political ties with China, the report said.
US-founded law firm McDermott Will & Emery noted increasing investment directed to European and US markets over the past years and expect the trend to continue. Earlier this year, Beijing Construction Engineering Group made a major investment in the 800-million-pound Manchester Airport City project.
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