chases moving targets to pin down value of Xi’s legacy projects Sajid
Javid, the business secretary, yesterday announced that President Xi
Jinping’s state visit to Britain would be crowned by ￡25bn of
Sino-British trade deals. Downing Street then increased the estimate to
“up to ￡30bn”.
By the time he arrived at Mansion House on Wednesday night David Cameron
was wielding an even more heady figure of ￡40bn — which found its way
into countless news headlines. 到了周三晚
As Mr Xi headed for Chequers for dinner with Mr Cameron and prepared to
visit Manchester on the final day of his four-day state visit, Number 10
struggled to explain the curious bout of deal inflation.
“I don’t really know where that ￡40bn figure has come from,” said one
government aide. Two senior Whitehall figures said the number was only
obtained by adding ￡12bn of future expenditure on Hinkley Point nuclear
power station by EDF, the French energy company. Downing St denied that
Meanwhile analysis by the Financial Times suggests that even the less
ambitious estimates may have involved some generous interpretation.
Downing St refused to explain how it had made its calculations,
suggesting that some deals were yet to be announced. A press officer
said there would not be a “full breakdown of figures and agreements”
until the Chinese delegation had left.
Officials have attributed a value of ￡1.7bn to a deal to rebuild Royal
Albert Docks in east London: in reality a Chinese investor has merely
bought a minority equity stake in the project from the Chinese developer
which controls the site. 官员们提到
An agreement for BP to sell liquefied natural gas to China Huadian
Corporation has a headline value of ￡6.5bn: but it stretches over 20
Also included is a ￡2.6bn agreement — over 10 years — between two
Chinese groups and Carnival, the world’s biggest cruise company, which
has a joint listing in London but is headquartered in Miami.
Critics say that the government is playing up the value of its deals
with China in a bid to prove that its courtship of Beijing is reaping
“For political reasons, the government needs to show it is maximising
Chinese investment,” said Tony Travers, director of the London School of