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Chinese diplomat pledges investment in Northern Powerhouse

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30 Oct 2015

Speaking during a visit to the University of Leeds a senior Chinese diplomat, Jin Xu, minister counsellor at the Chinese Embassy, said Chinese investment is coming to the North of England and that the Northern Powerhouse project to rebalance the UK economy has been received very positively in China.

In an interview with the Yorkshire Post Mr Jin commented, “The Northern Powerhouse is not only a good opportunity for the cities around here and the British people, but also for Chinese investment and Chinese businesses.”

He compared it to China’s One Belt One Road project to rebuild Silk Road trade links with Europe and Asia.

Mr Jin said: “Those two projects are both very important and ambitious so we can put our efforts and experience in places together to do things together to make advantage of each other’s resources.”

He added: “China’s economy is getting stronger and stronger and Chinese businesses are getting more powerful now so the Chinese government is now encouraging Chinese business people to go global. They will choose, they will prefer (countries that) are safer and more open and profitable.

“The Northern Powerhouse regions have a deep culture and very good history in your industries. Also you have a lot of creative businesses in this region, which Chinese people need badly."

Mr Jin was speaking at the Business Confucius Institute annual lecture at the University of Leeds.