Merseyside pitched to Chinese government investors by chancellor George Osborne
Senior Chinese officials held talks with Chancellor George Osborne and Peel supremo John Whittaker about major investment opportunities on Merseyside.
At a meeting at the Mansion House, in London, the Chinese vice-premier Li Keqiang met with the Tory finance chief to hear of the major regeneration projects currently planned for the banks of the Mersey, the Liverpool and Wirral Waters projects which are part of the multi-billion Atlantic Gateway scheme.
Mr Osborne said after Monday’s meeting that the Government would be actively encouraging the Chinese to invest in the Liverpool city region, where there were “exciting opportunities” for the “Asian tiger” to invest.
Other issues understood to be discussed at the meeting were encouraging bilateral trade between the region and the North West.
Peel Holdings chairman John Whittaker, who also attended the talks, said discussions centred around developing the North West’s low-carbon and logistics sectors which could “deliver over 100,000 jobs”, but it is not clear over what timescale.
Chancellor Osborne said: “There are exciting opportunities in the North West for Chinese Investment, one of the most impressive projects in the UK at the minute is the Atlantic Gateway.
“Last night, we arranged for the Vice-Premier to have a special presentation, specifically on projects in Liverpool and Manchester, which could encourage the Chinese to invest in opportunities showcased like Media City at Salford and the Port developments in Liverpool.
“We want to see jobs and growth, and we want the North West to be connected to the global community, that is why we arranged for the Vice-Premier and the Chinese delegation to receive a special presentation.”
Since Merseyside councils attended the Shanghai Expo in 2010, a number of Chinese business delegations have visited the region to discuss potential business and investment opportunities, although the involvement of Mr Keqiang is understood to be the most senior government figure to become involved in the talks.
In December, a group of Chinese investors came to discuss possible investment in the Wirral Waters scheme.
Wirral council leader Cllr Jeff Green said: “I believe the Wirral Waters site is a fantastic development and investment opportunity and if we can continue to strengthen these bonds over the coming months and years then the future will be an exciting one for the people of Wirral and the Northwest.”
The combined Liverpool and Wirral Waters schemes will see the regeneration of 800 acres of waterfront industrial land, a £10bn investment creating around 40,000 new jobs over the lifetime of the project.
Also on Merseyside is the massive upgrade of the Seaforth container terminal, which is anticipated to handle more than one million trade containers a year.
Media City, in Salford, is being pitched as the North West’s main media hub, with the £650m first phase having been completed. The BBC and ITV are to relocate their Manchester offices to the site.
Cllr Malcolm Kennedy, Liverpool’s cabinet member for regeneration, said: “It is encouraging the government is promoting the region to Chinese investors because no one can doubt we are the area which has put the work in.”
Peel chairman Mr Whittaker said of the meeting: “We were pleased to be able to describe to Li Keqiang the considerable potential for Chinese investment in the Atlantic Gateway between Liverpool and Manchester, the UK’s second largest economic area, and discussed a range of schemes, including the Low Carbon and Logistics sectors, which could deliver over 100,000 jobs, as well as increasing trade and travel links between the UK and China.”
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