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Wales of Britain Encourages Chinese Enterprises to Invest in Europe
Wales expects investment from Chinese enterprises, according to David Rowebeddoe, chairman of Welsh Development Agency who attended a forum in Beijing.
China and Wales share the same cultural icon of a mythical dragon, a symbol of power and good fortune, and a close relationship in the global economy, Rowebeddoe said.
He said he believes that Wales may be the most favorable destination for Chinese investors because it has tariff-free access to a market of nearly 400 million European consumers and the lowest corporate and personal tax rates in Britain and the European Union (EU).
He made the remarks in his keynote speech in the China-UK Forum 2000 held by the Chinese People's Institute of Foreign Affairs and the Royal Institute of International Studies of UK.
Welsh Development Agency was established in 1975 to promote the growth of employment opportunities and a more competitive business environment in Wales. It set up a branch in Hong Kong in 1995 to promote better relations between Chinese and Welsh companies.
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