Chinese, UK firms to build finance and tech park in Xiong'an New Area

Companies from China and Britain will jointly establish a finance and technology park in Xiong'an New Area, the major new state-level development hub connecting Beijing, Tianjin and Hebei.

An aerial view of Xiong'an News Area on October 26, 2017. [Photo: VCG]

According to a report in thepaper.cn, the signing of a cooperation agreement between Bank of China, China Xiong'an Construction & Investment Group, and Britain's Canary Wharf Group was witnessed by Chinese Premier Li Keqiang and visiting British Prime Minister Theresa May in Beijing on January 31.

The Ministry of Commerce said in a statement that China and Britain signed deals worth nine billion pounds during Prime Minister May's visit last week for the construction, finance, agriculture, and technology industries.

The involvement of a British company in the Xiong'an New Area is a sign of the deepening relationship between the two countries. During her visit, Prime Minister May said that Britain is also willing to promote cooperation with China on the Belt and Road Initiative, a blueprint for the future of China's economy.

The Canary Wharf business district in London on June 9, 2015. [Photo: AP Photo/Matt Dunham]

Founded in 1995, London-based Canary Wharf Group is a well-known property developer in Western Europe. Its Canary Wharf project, known as London's new financial center, is home to the headquarters of major commercial and investment banks, media organizations, and technology enterprises.