Chinese premier's Birmingham visit sparks trade bonanza
More than £1bn in trade deals between China and Britain are expected to be announced after Chinese prime minister Wen Jiabao flew into Birmingham to meet UK ministers.
He visited the Longbridge MG car plant yesterday (26 June) where he launched the European version of the MG6 Magnette.
The MG plant at Longbridge, which was once the largest manufacturing plant in the world, is now owned by the Shanghai Automotive Industry Corporation (SAIC). The MG6 is the first large-scale production at the West Midlands plant since Rover's demise in 2005.
The Chinese premier told reporters that the launch "opened brand new ways of cooperation" between Britain and China.
He said: "We use British design, Chinece manufacture, and British assembly. We adopt Chinese funds and markets, as well as British technology and management.
"The success of the MG6 reflects the great potential of Sino-British cooperation. The cooperation will be even more successful as long as we bear in mind the principle of mutual respect, treating each other equally, and win-win."
Lord Green, the UK minister for trade and investment, added: "I am delighted to welcome Premier Wen to Birmingham. SAIC has been a pioneer for Chinese investors in the UK. I hope other Chinese companies will learn from their example and see how successful they can be in Britain."
Today, the Chinese premier is due to meet British Prime Minister David Cameron and other senior ministers to sign agreements worth more than £1bn. The deals are though to relate to China's regional cities with contracts involving architecture, civil engineering and research and development. The hope is that the two countries can carry out £100bn-worth of bilateral trade by 2015, sources have said.
It is also thought that Wen is leading a Chinese bid for work on the HS2 high-speed rail line between Birmingham and London.
Wen arrived at Birmingham Airport on Saturday night. He also visited Stratford-upon-Avon yesterday (26 June) as he is a fan of the works of William Shakespeare - the town's most famous figurehead.
