Wen, Cameron to unveil £1bn deals

deals worth £1 billion.
Wen arrived at Cameron’s Downing Street office and the two men shook hands for the cameras before starting a morning of talks with senior officials from both sides on a wide range of issues, including the eurozone debt crisis.
The Chinese premier flew into Britain late on Saturday just as Beijing released high-profile rights activist Hu Jia, in what was seen as a move to defuse tensions during Wen’s visit to Europe.
Britain has promised to press Wen on his country’s rights record during the visit, arguing that freedom of expression and the consistent application of the rule of law are prerequisites for its long-term prosperity and stability.
But Cameron’s coalition government is also keen to boost trade ties with China and yesterday’s talks were expected to result in the signing of deals worth more than £1 billion (US$1,6 billion).
Wen said ahead of the summit that he would welcome more British products onto the Chinese market, while the deals will also aim at getting more British businesses into cities beyond Beijing and Shanghai.
On the first leg of his three-nation European tour, Wen promised officials in Hungary that China would continue to support its faltering economy by buying government debt, and he vowed to similarly aid the eurozone.
“When some European countries were hit by the sovereign debt crisis, China has actually increased the purchase of government bonds of some European countries and we have not cut back on our euro holdings,” Wen told the BBC.
“I think these show our confidence in the economies of the European countries and the eurozone.”
Pointing to the help for Hungary, he said: “I believe the friendship and co-operation between China and European countries are most keenly shown in the times of difficulties so as we often say a friend in need is a friend indeed.”
China has repeatedly expressed its confidence in the eurozone economies, and has invested an increasing portion of its world-leading foreign exchange reserves in euro-denominated assets.
Also during the visit, China’s central bank chief, Zhou Xiaochuan, voiced support for French Finance Minister Christine Lagarde’s bid to lead the International Monetary Fund, in Beijing’s first public statement on the issue.
On his first full day in Britain on Sunday, Wen visited a car plant in Longbridge, Birmingham, central England, which is owned by Shanghai Automotive Industry Corp (SAIC), China’s largest carmaker.
He launched the first new MG car to be made in 15 years, the MG6 model, hailing it as a potent symbol of friendship between London and Beijing.
“The model can be summed up as designed in the UK, manufactured in China and assembled in the UK, thereby making the most of China’s capital and markets, as well as the UK’s technology and managerial expertise,” he said.
Several dozen protesters gathered outside the factory, denouncing China’s human rights record. “Cameron and Wen. Human rights before trade,” their banners read, while they also shouted slogans through loudspeakers.
The release of Hu Jia was widely seen as a move to defuse tensions over human rights, and followed the release on bail last week of Chinese artist Ai Weiwei.
Hu (37) was jailed on subversion charges in April 2008 after angering the ruling Communist Party through years of bold campaigning for civil rights, the environment and Aids sufferers.
EU foreign affairs chief Catherine Ashton welcomed news of Hu’s release – but her spokesman stressed the bloc’s demands for Beijing to treat Hu fairly and accord him “full rights” after his release.
Germany will press human rights issues when the Chinese premier visits, Foreign Minister Guido Westerwelle said.
On Sunday, Wen also indulged his interest in Shakespeare with a visit to the bard’s birthplace in Stratford-upon-Avon, where he was treated to performances of extracts from Hamlet. – AFP.