09 November 2005
Tony Blair met with Chinese President Hu Jintao at Number 10 during his state visit to the UK. After their meeting they issued a press release announcing new commercial deals.
Read the text in full
Major UK-China commercial deals agreed
President Hu Jintao and Prime Minister Tony Blair announced today at Downing Street major commercial deals which will give a further boost to the rapidly growing business relationship between China and Britain..
The China Insurance Regulatory Commission has granted a request by Lloyd’s of London to establish a reinsurance operation in China. President Hu Jintao said in his meeting with Tony Blair that “we have approved entry into the Chinese market by Lloyd’s”. The Prime Minister said that “he greatly welcomed this new venture, which opened up a major new market for Lloyd’s, but would also give the Chinese access to Lloyd’s renowned global expertise in the insurance sector.” Lord Peter Levene, Chairman of Lloyds confirmed that the new operation will be known as Lloyd’s China Reinsurance Company Ltd. He said, “China is developing into one of the world’s largest and most important global insurance markets. I am delighted that His Excellency, President Hu Jintao, has confirmed that Lloyd’s will now be able to support China in this critical area”.
Air China Limited has selected the Rolls-Royce Trent 700 engines to power its new fleet of 20 Airbus A330-200 wide body aircraft. Together with a long-term Total Care services agreement, the total value of the contract is US $800 million. The deal was signed by Li Jiaxiang, President of Air China and Sir John Rose, Chief Executive Rolls Royce.
Arup signed a partnership with Shanghai Industrial investment Corporation (SIIC) which expands on its August contract to develop the world’s first sustainable city, Dongtan, in China. The new agreement sees Arup and SIIC partner on the development of two further sustainable cities. Dongtan Eco-City will initially house 20,000 people, and the 88 square km site will be ready in time for the Shanghai Expo 2010. SIIC and Arup are committed to making the project eco-friendly from the outset, implementing a solution to offset carbon emissions directly from the planning stage.
Airbus and AVIC 1 signed a protocol extending cooperation on a $500 million contract to produce Airbus A320 family wing boxes in China, under the third phase of the “A320 Family Wing Cooperation Programme”.
delicious
digg
facebook