top of page

Britain ‘not closed’ to Chinese money: UK’s investment minister

  • Dominic Johnson said while the geopolitical picture is fraught, he is looking to attract Chinese investors, particularly makers of electric vehicles

  • ‘China has a very powerful electric car industry. I’d much rather they made great cars in the UK that we could then capitalise from and export,’ he said


Bloomberg

November 28, 2023

Britain’s Lord Dominic Johnson, left, with Victor Li Tzar-kuoi and Canning Fok Kin-ning in Hong Kong in May. Photo: Lord Dominic Johnson

The British government’s minister for investment says political tensions between Beijing and Washington do not mean the UK is closed to Chinese money.


While the geopolitical picture remains fraught, Dominic Johnson said he is still looking to attract Chinese investors, particularly electric vehicle manufacturers.


“I welcome strong business collaboration between the UK and China,” Johnson said on the sidelines of the UK’s Global Investment Summit in London.


“China has a very powerful electric car industry. I’d much rather they made great cars in the UK that we could then capitalise from and export,” noting one of his ambitions is “to attract a Chinese car manufacturer”.


While some lawmakers in his governing Conservative Party have expressed concern about the prospect of a United Arab Emirates-backed investment vehicle taking over the Telegraph newspaper, Johnson welcomes such interest.


“The UAE is a great partner for the UK,” he said. “We’re an open and liberal economy and where it is possible I welcome their investment.”




Source: scmp.com

bottom of page