China-UK Ties: Trade, investment, BRI cooperation all saw strong growth
[]
China-UK trade and investment saw robust growth in 2017. Cooperation in the Belt and Road initiative also made strong progess. Michelle Van den Bergh has more.
Total cargo trade between China and the UK amounted to 79 billion US dollars in 2017, an increase of 6.2 percent over the previous year. Chinese exports to the UK reached 56.7 billion US dollars, up 1.8 percent from 2016. Imports from the UK hit 22 billion US dollars last year, an 19.4 percent increase.
In addition, the UK invested US$1.5bln in China last year. By the end of 2017, Britain's cumulative direct investment in China had reached US$22.55bln, making it the second-largest EU investor in China. Meanwhile, Britain is also China's second-largest investment destination within the EU. China's non-financial direct investment in the UK totalled US$1.53bln last year, while cumulative non-financial direct investment from China reached US$19.44bln.
Cooperation between the two sides under the Belt and Road initiative, including the construction of the Hinkley Point C nuclear power station, the linking of Sino-European freight trains and the launch of the China-Britain Innovation Industry Park in eastern China's Shandong Province, has played a key role in promoting trade relations to a new level. Michelle Van den Bergh, CGTN.