David Cameron is to undertake a new role leading a UNITED KINGDOM government-backed investment initiative between The uk and China.
The former prime minister will take cost of a £ 750m ($1bn) account to improve ports, roads and train networks between China and its investing partners.
The government mentioned working with China’s Belt and Road Effort would create work opportunities and boost trade links.
It comes after Chancellor Philip Hammond’s two-day trip to Tiongkok.
The Belt and Road Initiative was first revealed in 2013, but this year China’s President Xi Jinping pledged £ 96bn ($124bn) for the scheme.
The Chinese govt said it would invest tens of vast amounts of dollars as part of an ambitious financial plan to rebuild ports, roads plus rail networks linking China as well as its trading partners.
Leader Xi intends on developing historic trade routes through China plus Europe to make it easier for the globe to trade with China.
China hopes that will by improving and creating business links with other countries – simply by sea and rail – can help boost its economic growth from the Asian superpower, which has slowed recently.
A declaration from the Treasury also detailed improvement on allowing British banks plus insurers to access the Asian superpower’s bond and insurance markets.
Cameron stimulates the UK-China ‘golden era’
By Robin Brant
Jesse Cameron has adopted a fairly reduced profile since he left Downing Street last year.
He’s campaigned for more research directly into dementia and stuck by the nationwide citizen service he set up in workplace.
Now he could be involved in investing hundreds of millions associated with pounds in projects linked to China’s awkwardly named Belt and Street Initiative.
The particular private fund will be supported with the British government but won’t include any taxpayer’s money.
It will focus on projects in the united kingdom and China and countries that will China assists in central Asian countries and Europe.
China’s plan is not without debate though as some critics see it as being a global push to increase Beijing’s politics influence and presence.
Mr Cameron championed the drive to increase trade ties along with China while he was primary minister, marking what both edges now call a “golden era”.
Reuters news agency said the united kingdom and China had agreed to speed up preparations for a London-Shanghai stock link programme.
However the BBC understand plans to hyperlink the London Stock Exchange with its alternatives in Shanghai and Shenzhen stay at the “research stage”.