British Chancellor George Osborne left Sunday, Oct. 13 on a trip to China to strengthen bilateral business cooperation. On Monday, Mr. Osborne announced a simplified visa system to attract more investments from China. Under the new system, Chinese citizens will not need to submit a separate UK visa application if they are applying for EU Schengen visa with selected travel agencies. On Tuesday, a $13bn pilot scheme was announced to allow Chinese businesses based in London to invest directly in Chinese currency. Currently, Chinese investors have to route investment through Hong Kong. A joint statement from the UK and China said “both sides welcomed this as an important step that cements London’s major role as one of the most important global centers for RMB trading.” On Thursday, Chancellor Osborne also announced a new deal between Chinese companies and EDF Energy to build the first nuclear power station in Somerset, UK, in decades. (BBC, Oct. 14; BBC, Oct. 15; BBC, Oct. 17, 2013)
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SR: The Week’s China Reads
Every week, China Program’s Senior Advisor Dr. Robert A. Kapp compiles a reading list and provides commentary, for you to better understand China.
Robert A. Kapp is senior advisor to the China Program at the Carter Center. He has been principal of Robert A. Kapp and Associates, a business consulting firm, since 2004. From 1994 through 2004 he served as President of the United States-China Business Council…