UK-China partnerships worth £150m

Press Association
Updated
Flag of ChinaBlue Clear Sky Day Outdoors Rectangle Rippled Flag Wind Identity Patriotism Culture Close-up Color Image Nobod
Flag of ChinaBlue Clear Sky Day Outdoors Rectangle Rippled Flag Wind Identity Patriotism Culture Close-up Color Image Nobod



Partnerships between the UK and China expected to be worth £150 million over the next five years have been announced at a creativity festival launched in Shanghai by the Duke of Cambridge.

The Great Festival of Creativity is a partnership between the UK government and the private sector to create jobs and growth by supporting UK companies looking to break into Chinese markets.

Deals announced today included:

  • Tourism - A partnership of Birmingham Airport, Hainan Airlines and leading Chinese tour operator Caissa Touristic will launch a series of 17 return Beijing-Birmingham flights this summer, creating £19 million for the Birmingham and wider West Midlands economy;

  • A collaboration between the British Museum, Chinese broadcaster CCTV and digital media agency Yadii to produce a documentary, The Magic Museum and launch a supporting app - Magic M. These will introduce Chinese audiences to some of the most popular treasures in the British Museum.

  • Healthcare - Oxford-based Phynova has received the first ever market approval for a traditional Chinese medicine from the Medicines and Healthcare Products Regulatory Agency, estimated to be worth £15 million over five years.

  • Film and Television - A co-production treaty between the UK and China has been ratified and announced today in Shanghai. The treaty will allow qualifying film co-productions to access domestic benefits, including sources of finance and an easier route to audiences. BBC Worldwide and Smart English, a wholly-owned subsidiary of Popular Holdings Limited, is officially starting the roll-out of its learning centres in China, starting with the first CBeebies-themed English Learning Language in Shanghai in mid-2015.

  • Financial Services - Shanghai Asian Brokers Co Ltd will be one of the first Chinese insurance brokers to set up in the UK, aiming to create 30 new jobs over three years. UK Trade Minister Lord Livingston said: "Our creative industries are a highly valued asset to the UK - worth almost £80 billion a year to our economy and employing 1.6 million people. I am delighted to see so many British companies at the festival. "The festival offers great opportunities to deepen collaboration and partnerships between the UK and China across a range of areas."


UK Culture Secretary Sajid Javid said: "The UK and China are home to two of the biggest and best film industries in the world, so both of our countries have much to gain from forging closer links."

China Sales Stabilizing and Innovation Boosting U.S. Brands
China Sales Stabilizing and Innovation Boosting U.S. Brands


Economic stories on AOL Money

Why our ageing population needs immigration

Surprise as UK trade gap widens

Economic growth revised upwards

Advertisement