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OurWorld…passionate about business02-Dec-08
Welcome to UK Trade & Investment today

UK aiding Chinese ICT expansion

Chinese telecommunications and information-technology firms are investing in the UK to help their international expansion.

Tony Collingridge, Head of the Asia-Pacific team at UK Trade & Investment, told the South China Morning Post: "Chinese [information and communications technology] investments have risen from a negligible number in the late 1990s to about 59 projects in our 2007-08 financial year.

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Chinese [information and communications technology] investments have risen from a negligible number in the late 1990s to about 59 projects in our 2007-08 financial year

Tony Collingridge

Head of the Asia-Pacific team

UKTI

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Furthermore, over 300 firms from China's information and communications technology industry, including China Mobile, Huawei Technologies and China Netcom Group Corp have made the UK their base for European expansion.

Henry Ge, China Mobile's Chief Representative for European and Africa business, said easy access to markets, a skilled workforce and a "welcoming investment environment" made the UK attractive to his firm, according to the newspaper.

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In addition, UK Prime Minister Gordon Brown and Chinese Premier Wen Jiabao have set a target for increased trade in goods and services between the two countries to reach $60 billion (£33.7 billion) by 2010.

Last month, Think London, the foreign direct investment agency for the capital, held an event to promote the benefits of the city to Chinese telecommunications firms.



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