In the presence of the prime ministers of Britain and and China, Rolls-Royce has signed a £750m deal to supply Trent 700 engines for 16 Airbus A330s to China Eastern Airlines.
Prime Minister David Cameron is leading the biggest ever UK government delegation to China, including Chancellor George Osborne, Business Secretary Vince Cable, Energy Secretary Chris Huhne and Education Secretary Michael Gove. There are also industry leaders from over 50 UK companies on the trip.
Cable was also present at today’s deal signing. He said: “China is the world’s second biggest economy. Bilateral trade and investment is growing but there is scope for much more. Exporting is important for UK growth and UK jobs.”
The Chinese invested around £27m in UK goods and services last year, which constitutes 10 per cent of its total investment in the European Union. The current delegation has been set a target of doubling UK exports, in terms of value, to the far East nation.
Click here to read Howard Wheeldon’s thoughts on trip.