WHY IS HMG NOT REPRESENTED IN CANTON?
The emergence of Canton and Guangdong Province as a market of world
importance is a recent phenomenon. At present, the region is covered by the China Trade Unit based in Hong Kong.
Members of the Unit travel regularly to
Canton to assist UK and exporters and promote UK business interests. However, the government recognises the changes that have occurred in the region and is invest- igating the possibility of some form of
representation there,
as are the China Britain Trade Group.
Concessional Finance
HAS THERE BEEN ENOUGH UK CONCESSIONAL FINANCE?
WHAT CONCESSIONAL FINANCE SUPPORT IS NOW AVAILABLE TO UK FIRMS PURSUING PROJECT BUSINESS IN CHINA?
We have had two
concessional finance arrangements with China since 1986, each able to support £300 million worth of project
business. British
companies must however also be prepared to pursue business founded on commercial terms or by untied aid from international sources (e.g. World Bank as that majority of Japanese aid which is untied).
Support for £300m of UK goods and services has been provided under the second Concessional Finance Agreement (CFA), due to expire on 31 March. Negotiations with the Chinese on a
third CFA are expected to commence this year.
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