§ Mr. McCrindleasked the Secretary of State for Trade and Industry if he will make a statement on the take-up of cheap credit facilities for trade with China and give details of its allocation to date.
§ Mr. Alan Clark[pursuant to his reply, 13 May 1986, c. 408]: My right hon. and learned Friend the Secretary of State for Foreign and Commonwealth Affairs and Mr. Zheng Tuobin, the Chinese Minister for Foreign Economic Relations and Trade, have today signed a formal agreement covering our support under the aid and trade provision for £300 million business in China on favourable loan terms. Four projects have already been agreed as suitable for further consideration under this arrangement and commercial negotiations are continuing between the relevant United Kingdom companies and Chinese organisations. If agreed, these projects will take up a large part of the facility. The Government hope that use of this facility will be accompanied by a more general expansion in our economic and commercial relations with China.