Chinese investors to consider opportunities in Leeds
China will be encouraged to invest in projects across northern England, with a potential scheme in Leeds being showcased by ministers.
China is being encouraged to invest in projects across northern England by MPs with 13 potential schemes being showcased by ministers - including one in Leeds.
The £5 billion investment portfolio is said to represent a major opportunity'' to increase business ties with Chinese investors, Chancellor Philip Hammond said.
Three of the sites are based in Yorkshire, including The Kirkstall Forge development Leeds is 1 of 3 projects in Yorkshire being put forward. The city centre development includes 1,050 new homes, office space, retail and leisure facilities
Northern Powerhouse minister Andrew Percy told Radio Aire: "The 13 projects are not the only projects. Obviously we're looking for foreign investment in the North of England."
"Foreign investment in the North has been growing twice as fast as in the rest of the UK. But these are major projects which are ready to go now."
"We focus very heavily on foreign investment by doing trade missions overseas, but we're also looking for domestic investments."
The launch of the portfolio came as Chinese vice premier Ma Kai led a delegation to London for meetings with ministers and Bank of England governor Mark Carney.
Mr Hammond said: As we seek to take to take the golden era of UK-China relations to the next step, we have a major opportunity to open up investment opportunities across the Northern Powerhouse".
This portfolio, opening up billions of pounds of investment-ready projects to Chinese investors, will support our work to grow and create jobs across the North, as well as underpin our ambitions to bring world class infrastructure to every corner of Britain.'' Alongside the investment portfolio, the Department for International Trade is working with 15 Chinese investors on property development and infrastructure projects in the North of England.