Chinese Investments Created More Jobs in the UK Market
For the 2014-15 fiscal year, Chinese investment has created more than 6,000 jobs in the United Kingdom according to the minister counselor of the economic and commercial office at the embassy of China in London, Jin Xu. Having 112 projects during the year, Chinese investments has ranked fourth among all foreign countries in the United Kingdom, thus making it the top job maker in the United Kingdom among the developing countries.
Chinese companies have made a significant contribution to the country’s economy through growth and employment and UK is the main destination of Chinese investment. According to Jin he was speaking as figures coming from the UK Trade and Investment has revealed that more than $1.4 billion in investments that came into the country during the first six months compared to $7 billion in total last year. As of the moment more than 500 Chinese companies established branches and offices in the UK and expanded into the infrastructure, financial services, advanced manufacturing, telecommunications, research, development and brand networking.
One of the largest Chinese investors to the UK is Huawei Technologies which created more than a thousand jobs in the past decade. Plus the company announced in 2012 that it will be spending 1.3 billion pounds until 2017 which will be split equally between investment and procurement. Britain has long been encouraging Chinese investment in the infrastructure industry especially in the transport and energy sectors such as high speed rail, nuclear, offshore wind power and photovoltaic projects.