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UK 'welcomes' Chinese capital (2)

By Bao Chang  (China Daily)

15:53, November 05, 2012

Last year, China's investment in the UK surpassed $1.1 billion, an increase of more than 55 percent year-on-year.

Justin Yifu Lin, a former chief economist at the World Bank, told the FT Forum that infrastructure investment is becoming a key engine for economic growth in developed economies.

"Although developed nations have mature infrastructure networks, there is still big investment potential in the area," Lin said.

The Council of Europe estimates that countries across the continent will invest $2.8 trillion in infrastructure over the next 10 years.

UKTI says that the country has identified 250 billion pounds worth of infrastructure investment needed over the next 10 years, with increased private-sector involvement needed to deliver that, on projects including energy generation and transmission, airports, rail, digital communications, and waste and water treatment.

The UK government's attitude differs from that in the US, where the authorities have expressed national security concerns over Huawei's investment plans in the country.

FT quoted a spokesman for British Prime Minister David Cameron as saying: "The 500 jobs brought by Huawei are the kind of jobs we need to rebalance the economy and compete in the global race."

The UK's largest telecom operator Everything Everywhere announced on Wednesday that its network infrastructure and solutions will all be supplied by Huawei, when it launches commercial operation of its 4G service.

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