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4.
Visits by businessmen
-
more than 2500 in 1985
Chairmen and board members of major British firms
including
have led to
improvement in UK's volume of exports and balance of trade with PRC,
as shown in table below:
YEAR
1
1983 | 1984
| 1985 | 1986
Jan-June 1987
UK Exports
160
UK Imports | 231
| 317 | 297
1 396
536
210
1 308
| 327
178
Balance (£m) | −71
+20
+88
+209
+32
Two large contracts have recently been concluded by UK firms:
(September 1986) with GEC for gas turbine generators for Daya Bay nuclear power station project, worth over £250 million;
(12 April 1987) with Govan Shipyard for two container ships, each worth £33.15 million with option for a third.
The latter was supported under the Development Loan Agreement, as are British bids for the Yueyang power station project worth about £175 million. Following the Claims Agreement, China has come to the
City of London for a $200m Eurobond issue.
5.
The British Council has been actively involved in an explosion in cultural exchanges: 23 town-twinning agreements have been signed or are under negotiation. Numerous civic and academic visits, both
inward and outward have taken place.
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