5bn of Northern Powerhouse projects made available to Chinese investors

£5bn of Northern Powerhouse projects made available to Chinese investors

A portfolio of investment opportunities valued at £5bn has been unveiled to Chinese investors by the chancellor Phillip Hammond.

Billions of pounds’ worth of investment in the Northern Powerhouse will be showcased to Chinese investors as a part of the eighth UK-China Economic and Financial Dialogue.

The two-day trade forum will feature events and discussions on trade, financial services, infrastructure and energy.

Chinese vice premier Ma Kai, along with a senior Chinese delegation, will have meetings with the prime minister and Bank of England governor Mark Carney.

Mr Hammond said: “As we seek to take the golden era of UK-China relations to the next step, we have a major opportunity to open up investment opportunities across the Northern Powerhouse.

“This portfolio – opening up billions of pounds of investment-ready projects to Chinese investors – will support our work to grow and create jobs across the North, as well as underpin our ambitions to bring world-class infrastructure to every corner of Britain.”

Andrew Percy, the Northern Powerhouse minister, added: “Building the Northern Powerhouse is at the heart of our efforts to create an economy that works for everyone.

“Investors from abroad know that the North has some of the world’s best and most talented entrepreneurs and businesses, and today we’re showcasing 13 oven-ready opportunities to them which could create thousands of jobs for years to come.”

The Department for International Trade also confirmed that they are working with 15 Chinese investors on property development and infrastructure projects in the North of England.

The projects included residential and commercial development projects in Manchester, Leeds and Liverpool, bringing thousands of new homes and jobs to the region.

The full list of investment projects can be seen on the government website.

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