The chief executive of the UK arm of the Bank of China has called for a “new chapter” in the relationship between the two nations after a year of increasing political tension. Relations between the UK and China have soured this year, with both the domestic and overseas activities of the world’s second largest economy under deeper scrutiny. In July, Boris Johnson took the decision to ban telecoms giant Huawei from playing any role in the development of the UK’s 5G infrastructure over security concerns. MPs have also turned their attention to state-owned China General Nuclear’s role in building the UK’s new fleet of nuclear plants, with particular concerns about plans to build a Chinese-designed reactor at Bradwell B in Essex. The two have also clashed over the imposition of a draconian new security law in Hong Kong, as well as the China’s persecution of its Muslim Uighur minority in Xinjiang. He warned that by “turning your back on CGN for example you close the door to leading edge technology in this area, funding and make it harder to bring emissions down”. Chinese firms are “ready to make a big and substantial investment in the UK by building other plants such as the one proposed at Bradwell”, he added.
City AM 24th Nov 2020 read more »