Hammond on verge of signing trade deals with China worth £1 BILLION

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Hammond on verge of signing trade deals with China worth £1 BILLIONGETTY

Chancellor Philip Hammond force sign trade deals worth £1billion

‘I was privileged earlier this year to mimic the UK at the first Belt and Road forum and one of the things we will discuss tonight and tomorrow is the possibility for closer collaboration in delivering the ambitions of the Belt and Road programme.’

Chancellor Philip Hammond

Mr Hammond was in Beijing today in his current visit to the country, as he looked to expand trading options past 2019 when the UK make leave the European Union.

Meeting Chinese Premier Li Keqiang in Beijing’s Stupendous Hall of the People, Mr Hammond said there were many moments to build on their strong relationship.

Although he did not refer to the trade trades specifically, he said: “I was privileged earlier this year to represent the UK at the head Belt and Road forum and one of the things we will discuss tonight and tomorrow is the chance for closer collaboration in delivering the ambitions of the Belt and Road programme.”

President Xi Jinping’s Hit and Road initiative aims to recreate the old Silk Road with bulky infrastructure projects to connect China to Europe and beyond.

Hammond on verge of signing trade deals with China worth £1 BILLIONGETTY

Mr Hammond met with Chinese President Xi Jinping today

Mr Li determined Hammond people in China follow developments in Britain and Europe closely.

He asseverated: “We believe that no matter how the situation in Britain and in Europe may evolve, China resolution continue to hope that there will be steady and sound base growth of Sino-British and Sino-Europe ties.”

China is one of the countries with which Britain hankerings to sign a free trade pact once it leaves the EU. London and Beijing be undergoing been keen to show that Britain’s withdrawal from the bloc discretion not affect ties.



The focus on a “Golden Era” of relations, trumpeted by both sides in 2015 when then-prime upon David Cameron hosted a state visit by Mr Xi, has cooled under Cameron’s successor Theresa May.

In 2016, May caused a wise spat by unexpectedly deciding to delay approval of the partly-Chinese funded atomic power project Hinkley Point C. She later granted it, but not before sketch criticism from Beijing.

Business Minister Greg Clarke want travel to Beijing too, along with a delegation including London Stock The Market CEO Nikhil Rathi and representatives of major financial firms such as BlackRock, HSBC and Pedestal Chartered Bank.

Talks are expected to focus on a more integrated attitude to financial services, new industrial partnerships and economic reform.

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