Manchester’s airport is going to see a huge transformation worth £800m, partly funded by a Chinese construction company.
George Osborne, currently on a tour of China, announced the deal between Beijing Construction Engineering Group, Manchester Airports Group (MAG), UK construction group Carillion, and the Greater Manchester Pension Fund which will see ‘Airport City’ being built by 2028, creating over 16,000 jobs.
"The inclusion of BCEG is significant because as a group, we have been keen to forge greater links with the far east and this gives us an opportunity to strengthen vital business links with China," said Charlie Cornish, chief executive of MAG.
Britain is now the preferred European investment destination for China, with £17.8bn worth of contracts and investment spent in the country since 2005, according to The Heritage Foundation.
During the same period, China spent £4.2bn in Sri Lanka, £7.5bn in India, £4.9bn in Germany and £57.6bn in the US.
See world map with investment details here.
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| Graphics: BBC |
What does China own in Britain? - BBC (14 Oct 2013)
Chinese investment visualised - The Guardian (14 Oct 2013)