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UK PM Cameron gets down to business in China

UK PM Cameron gets down to business in China
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British Prime Minister David Cameron arrived in China on Tuesday as the head of the UK’s largest-ever trade delegation.

Cameron travelled with several top executives in a bid to boost commercial ties between the two nations and secure new investments.

The UK hopes to export its way to growth as deep budget cuts are likely to hit consumer spending at home.

Finance Minister George Osborne said Britain wants to do more business with Beijing to achieve that.

“I think there is a huge potential at this stage of our countries’ economic development for an expanded economic and commercial relationship,” he said during a meeting with Chinese Vice Premier Wang Qishan.

UK-China trade amounted to 37 billion euros last year but Chinese exports to the UK were three times the size of UK exports to China.

Cameron wants to increase British exports from nine billion euros then to 22 billion euros by 2015.

He also wants to boost bilateral trade to 72 billion euros within the same time frame.