§ Mr. RedwoodTo ask the President of the Board of Trade what new inward investments to Britain she signed during her visit to China. [23710]
§ Mrs. BeckettNone were under discussion.
Inward investment activities were not the principal purpose of my visit, the first visit by a cabinet minister to China since the handover of Hong Kong last June. At the invitation of the Chinese government, I chaired a meeting of the Joint Economic Commission with the Chinese Minister for Foreign Trade and Economic Cooperation. I also met with other senior Chinese ministers including Premier Li Peng and launched a major new initiative, "Britain in China 1998", which will raise awareness of what Britain can offer China. I was accompanied on the visit by a team of senior business people from UK power, aerospace and chemical sectors.
During my recent visit to China I also addressed audiences at inward investment seminars held in Beijing and Shanghai. Both seminars were chaired by Adair Turner of the CBI. These events, organised by the Invest in Britain Bureau (IBB) with the full support and encouragement of the Chinese government, form part of IBB's annual overseas promotional programme to promote the advantages of a UK location for manufacturing investment. The seminars in China, a new market for IBB, are a long term initiative aimed at raising awareness of the opportunities which the UK offers as an investment location as and when business in China looks to increase its investment overseas.