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Open for business

Nick Robinson | 07:00 UK time, Friday, 18 January 2008

BEIJING: Gordon Brown has come to China with one clear message - Britain is open for business with you. In recent years, the story of China's economic growth has been one of cheap labour and cheap manufactured goods. Now, as the country grows richer, it has money to spend at home - more Bentleys are sold in Beijing than in London - and money to invest abroad.

The prime minister believes that the hostility towards Chinese investment which has been expressed both in America and in Europe gives the UK an opportunity to be seen as welcoming to a country which recently created an investment or "sovereign wealth" fund with £100 million to spend. Cheap Chinese goods have underpinned low British inflation for years. Now Gordon Brown hopes that Chinese investment and growing consumer power will sustain British prosperity.


  • 1.
  • At 09:11 AM on 18 Jan 2008,
  • Martyn Egan wrote:

Probably more than 100 million - China's SWF currently has assets of around $300bn. Global assets under SWF management are now greater than those held by hedge funds. I'm not sure it's always and everywhere a good idea to encourage investment from SWFs: with the exception of Norway's, most have absolutely no transparency.

  • 2.
  • At 09:17 AM on 18 Jan 2008,
  • VK wrote:

I think you mean £100 BILLION...

  • 3.
  • At 01:11 PM on 18 Jan 2008,
  • Haroon wrote:

100 million ?

its a very small figure Nick

talk about billions.

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