because this will give more businesses confidence to come and invest in china.
uk companies are uniquely placed to support china’s demand for more high value goods for its consumers.
our pavilion at the world expo in shanghai – which won the gold award for the best pavilion design – was a showcase for so many of britain’s strengths
from advanced engineering to education…
from great brands to great pharmaceutical businesses
from low carbon to financial services to the creative industries.
in all these areas and many more, british companies and british exports can help china deliver the prosperity and progress it seeks.
we can be part of china’s development strategy, just as china is part of ours.
a true partnership of growth.
in recent days, britain has won new business worth billions of pounds
involving companies across the uk and cities all over china.
including a deal between rolls royce and china eastern airlines for 16 airbus 330 aeroengines worth £750 million
and inward investments worth in excess of £300 million
this is all in addition to at least £3bn of business which british companies have secured as part of the airbus contract concluded with china last week
and a further £2 billion of investments by tesco to develop new shopping malls over the next five years.
and with nearly 50 of britain’s most influential culture, education and business leaders joining me on this visit.
i hope these deals can be just the beginning of a whole new era of bilateral trade between our countries.
achieving this would be a real win-win for our two countries.
so if china is prepared to pursue further opening of its markets
and to work with britain and the other g20 countries to rebalance the world economy and take steps over time towards internationalising its currency
that will go a long way towards helping the global economy lock in the stability it needs for strong and sustainable growth.
and just as importantly, it will go a long way in securing confidence in the global community that china as an economic power is a force for good.
political responsibilities
but china does not just have new economic power.
it has new political power.
and that brings new political responsibilities too.
what china says – and what china does – really matters.
there is barely a global issue that needs resolution, which does not beg the questions: what does china think, and how can china contribute to a solution?
china has attempted to avoid entanglement in global affairs in the past. but china’s size and global reach means that this is no longer a realistic choice.