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Trade deals worth billions signed as Premier Li visits UK

CCTV.com

06-19-2014 05:58 BJT

Full coverage: Chinese Premier Visits Britain and Greece

Full coverage: China’s Leaders

Chinese Premier Li Keqiang oversaw the signing of trade deals worth billions of US dollars with Britain, marking a new high in Sino-British trade relations. The deals cover multiple industries, from finance and energy to tourism.

Chinese Premier Li Keqiang (4th R) and British Prime Minister David Cameron (3rd L) attend a signing ceremony of a number of bilateral cooperation documents after their annual meeting in London, Britain, June 17, 2014. (Xinhua/Pang Xinglei)

Chinese Premier Li Keqiang (4th R) and British Prime Minister David Cameron (3rd L) attend a signing ceremony of a number of bilateral cooperation documents after their annual meeting in London, Britain, June 17, 2014. (Xinhua/Pang Xinglei)

One of the agreements sees China Construction Bank, China’s second-largest lender, becoming the UK’s first clearing service for offshore trading in Renminbi. Also, oil giant, BP, has signed a 20-year deal worth around 20 billion US dollars to supply the China National Offshore Oil Corporation with cargoes of liquefied natural gas.

Negotiations have also been announced to end a Chinese ban on British beef and lamb imports, giving hope that a market worth up to 200 million dollars to the British economy could be opened up. The UK government has also announced it will ease visa restrictions for Chinese tourists wanting to visit the country.

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