UK, Chinese investment in UK electronics business set to boost GDP

UK, Chinese investment in UK electronics business set to boost GDP

October 30, 2021 Comments Off on UK, Chinese investment in UK electronics business set to boost GDP By admin

by Simon Williams, The Independent UK’s economy is set to benefit from the opening of an electronics manufacturing plant and a Chinese investment into the British business, Chinese state news agency Xinhua reported Sunday.

The new investment in the U.K. is part of an ambitious plan to expand the UK’s exports of high-tech products and services and is being coordinated by the British Embassy in Beijing, Xinhua said.

The Chinese state media outlet said the investment would add up to more than $2 billion, or more than 4 percent of the UK economy, over the next five years.

China is the world’s biggest electronics market and exports about $14 billion worth of goods and services annually.

China’s foreign investment into U.S. businesses in the US has surged over the past two years, increasing to $1.1 billion last year.

That is expected to top $2.2 billion this year.

China has also signed an agreement with Boeing for the development of the CST-100 rocket, an advanced heavy-lift launch vehicle, as well as plans to build a new space station, according to a statement released by Boeing.

Chinese state media has also been critical of President Donald Trump’s handling of the South China Sea dispute, which Beijing sees as an obstacle to China’s economic expansion.

In an interview with Reuters in September, the U,S.

President said he was not concerned about China’s territorial claims in the South and East China Seas and did not think he would “have to deal with China”.

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