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China to seek investment in Britain: MOC

(Xinhua)
Updated: 2009-03-02 20:31

BEIJING -- China would send a small-scale delegation to Britain to explore mutual investment opportunities, said Minister of Commerce Chen Deming here Monday.

China's procurement trip to Europe is very successful, said Chen, who made the comments when taking reporter questions at a televised meeting on how to expand consumption and facilitate circulation.

The released procurement figure is only the first step, Chen said. He also said China is to send out expert teams to discuss issues concerning key equipment and patent technology.

Related readings:  China signs $2b purchase deals with Britain  Firms sign $320m purchase deals in Spain  Trade team spends $13b in Europe  Purchase group to leave for Europe in late-Feb

"It is what China needed for development, and it meant the same to Europe," said Chen.

China's procurement delegation has just finished its four-nation Europe tour, which included Germany, Switzerland, Spain and Britain.

Chen also noted that it could also be a measure for China to achieve a balance of international payments, if the government supported competitive domestic companies in making overseas investments.

The government should render policy and financial support for these companies, Chen said.