Chinese state visit: up to 40 billion deals agreed

UK Trade and Investment

October 23
18:14 2015

Almost 40 billion worth of deals between the 2 countries were agreed during the visit.

The below is a list of commercial deals that have been agreed during the China State Visit:

Highlights of commercial deals

Hinkley: 6 billion Chinese investment to build 2 new nuclear reactors at Hinkley Point C in Somerset. Hinkley Point C will generate a stable source of clean power to nearly 6 million homes, and will provide up to 25,000 employment opportunities. In operation Hinkley Point C will employ around 900 permanent staff.

BP and China Huadian Corporation today signed a sale and purchase agreement for BP to sell Huadian up to 1 million tonnes of liquefied natural gas (LNG) per year worth up to 6.5 billion over the next 20 years.

Rolls-Royce announced a deal with HNA Group to provide Trent 700 engines to power 20 Airbus A330s. This includes TotalCare service support for the engines. Rolls-Royce and HNA Group have also agreed a TotalCare package for a further 9 Trent 700 engines and 15 Trent XWB engines. The total value of the deal is 1.56 billion. The Trent 700 and Trent XWB engines are 2 of Rolls-Royces best-selling engines and are assembled in Derby.

Carnival plc has entered into a joint venture with China State Shipbuilding Company and China Investment Corporation to own and operate a fleet of cruise ships to serve the Chinese domestic market, with an investment value of 2.6 billion.

CITIC - The developer behind the transformation of Royal Albert Dock, ABP has announced it is joining forces with CITIC Group. It will cost 1.7 billion to transform Royal Albert Dock into Londons next business district.

Oxford University - China Construction Bank through her subsidiary CCBI to provide capital market assistance of up to 6 billion to help fund regenerative medicine and tissue engineering research after signing a deal with Oxford University

Hualing - Hualings investment will unlock 3 major regeneration projects in Leeds, Manchester and Sheffield with a combined Gross Development Value of 1.2 billion.

Alexander Dennis - A 2 billion commitment by 2 of the worlds leading bus manufacturers. BYD is to join forces with British bus builder Alexander Dennis Limited (ADL) to build 200 12 metre single deck emission free buses a year representing turnover of around 660m over the next 10 years. The companies confirmed they are extending their alliance to include double decker buses taking their commitment to 2 billion and will help secure up to 2,100 jobs in the Yorkshire, Scotland and the South East.

Inmarsat has signed a MOU with its long-established Chinese partner China Transport Telecommunication Information Centre (CTTIC) to implement a strategic partnership worth more than 2 billion. This will deliver Inmarsats revolutionary fifth generation satellite service, Global Xpress, throughout China and the One Belt One Road region. In addition this will to establish a joint venture to provide aviation passenger connectivity and safety services to Chinese airlines globally.

MoU to establish Garden of Ideas Created by Simon Elliott in collaboration with Sir Tim Smit KBE and the Eden Project: 1 billion.

Sinophi will be building 7 hospitals in China which will generate 800 million.

Sanpower acquisition and expansion of Hamleys. Sanpower will initially invest 100 million plus 100 million over 5 years and create an extra 500 jobs. They will also invest 400 million on taking Hamleys to China. Total value: 600 million.

BP-ICBCL - As part of its ongoing fleet rejuvenation programme, BP Shipping has entered into a $900 million financing agreement with Industrial and Commercial Bank of China Financial Leasing affiliates (ICBCL) for the purchase and lease-back of 18 oil tankers being built for BP in South Korea. The agreement marks BPs first such transaction with ICBCL and is BPs highest value tanker-financing deal to date. Value 550 million.

IHG has signed 204 million deal with China engineering company, a 1,000 bed hospital in a district in central China.

University of York has developed a 200 million TV training programme. Working with China Culture Investment Group (CCIG), the programme will recruit up to 300 students a year from China and other countries and will be delivered in bespoke facilities on the York campus.

Beijing Construction Engineering Group (BCEG) are making a significant equity investment to take a 21% stake in a major regeneration project in Manchester city-centre: 200 million, 600 permanent jobs.

Aston Martin unveiled a 50 million deal with China Equity to develop its zero-emission RapidE sports car.

London Taxi Company owner Geely also announced an additional 50 million investment to enhance their research capabilities and launch a new fleet of zero-emission-capable black cabs.

Full list of deals

Deal BN/MN Jobs
BP agreement to sell Liquid Natural Gas to Huadin over 20 years 6.5 billion
Hinkley Point C China to take a 33.5% stake in the power station in a joint venture with EDF 6 billion Up to 25,000 jobs (24,100 temporary / 900 permanent)
Oxford University China Construction Bank (through subsidiary CCBI) to help fund regenerative medicine and tissue engineering research with Oxford University 6 billion
Carnival Plc Agreement with China State Ship Building Company to build ships 2.6 billion 1,600 created, 400 safeguarded
Alexander Dennis joint venture with BYD for 200 electric buses 2 billion 2,100 safeguarded
Inmarsat to supply fifth generation satellite to China 2 billion
Royal Albert Docks CITIC construction investment to redevelop Royal Albert Docks 1.7 billion
Rolls-Royce deal with Hainan Airlines for 20 Trent 700 engines and Total Care Package 1.56 billion
Hualing investment into 3 regeneration projects, Manchester, Leeds, Sheffield 1.2 billion
Garden of ideas MoU to establish Garden of Ideas: 1 billion 1 billion 200 created
Sinophi Hospital building 7 hospitals 800 million
Sanpower acquisition and expansion of Hamleys 600 million 500 created
BP ICBCL third party financing BPs fleet rejuvenation programme. BPs first commercial transaction with ICBL 550 million
International Hospital Group hospital build with CREC 204 million
York University a TV training programme with China Culture Investment Group 200 million
BRE (UK) partnership on green building with Evergrande Group and Tsinghua University 200 million
Beijing Construction Engineering Group (BCEG) taking a 21% stake in a major regeneration project in Manchester city-centre 200 million 600 created
Sanpower first 3 House of Fraser stores to open in China 100 million
Future TV and Distrify Online distribution of film and TV programmes in China and internationally 85 million
Zhong Project project to bring FDI to UK for export-oriented UK life sciences 100 million
NetDragon Websoft inc purchase of Promethean World plc 84.8 million
Fosun Group increased its stake in Thomas Cook 70 million
Cerno to distribute medical imaging machines for use by NHS trusts 58 million
Counton GMS working with UK private hospitals to provide specialist hospital treatment for Chinese patients in the UK 57 million
Hainan Airlines direct flights from Manchester to Beijing
Geely additional investment in Coventry 50 million
Aston Martin MoU with China Equity to finance the new electric Aston Martin Rapide 50million
China Dream Space creation of a 2,000sqm to incubate innovative companies at Canary Wharf 50 million
Thomas Pink deal with LongGal to act as a franchise partner for roll out of

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