China wants to back UK High Speed 2 and new nuclear - Polidicks

[QUOTE]One of the world's biggest lenders, the state owned China Development Bank, wants to become a significant backer of Britain's major infrastructure projects. China Development Bank (CDB) is a wholly owned subsidiary of the Chinese government and I have been told that it wants to directly fund two major (and controversial) project areas in the UK - High Speed 2 and the next generation of nuclear power stations. CDB has signed a Memorandum of Understanding (MoU) with the City via the representative body, The CityUK. The MoU will encourage CDB lending in the UK as well as trading in China's currency, the renminbi, which will open up trade opportunities in China to British businesses. The MoU will be part of the announcements made by David Cameron and Premier Li Keqiang on Tuesday afternoon on closer Sino-UK commercial relations. The memorandum has been brokered by Sir Gerry Grimstone, the chairman of The CityUK. Speaking to me earlier today, Sir Gerry said that his discussions with CDB this morning revealed that they were focused on three specific sectors. "They are interested in nuclear, high speed rail and telecommunications," he said. "High Speed 2 was one of the things they specifically mentioned [in the meeting this morning]. Knowing the finance is available is an important part of any project. This is an important development." Despite the political controversy surrounding the £42.6bn HS2 project, CDB's position will be a welcome boost for supporters of the line. [/QUOTE] [url]http://www.bbc.co.uk/news/business-27888027[/url]

[QUOTE]"They are interested in nuclear, high speed rail and telecommunications,"[/QUOTE] Does this mean I finally get Fibre?

Nuclear I can understand, but why HS2?

[QUOTE=danharibo;45131417]Nuclear I can understand, but why HS2?[/QUOTE] the chinese are slowly taking over all our large projects and then they will conquer the uk :tinfoil:

Some of these comments are great. [QUOTE]The UK's flagship infrastructure project will have "Made in China " stamped on the bottom of it. Is this what we have become? Whatever happened to the "Made in Britain" stamp.[/QUOTE] Any time I hear someone uses the phrase "Made in Britain" I can only ever think of this: [IMG]http://saloon.sixgun.org/uploads/db5862/161/4f63821012d89b85.gif[/IMG]

[QUOTE=frankie penis;45131441]the chinese are slowly taking over all our large projects and then they will conquer the uk :tinfoil:[/QUOTE] Probably trying to go for an Economic Victory before we encounter Space Gandhi.

[QUOTE=danharibo;45131417]Nuclear I can understand, but why HS2?[/QUOTE]Might have something to do with the fact that China has one of the largest and fastest growing HSR networks in the world. [url]http://en.wikipedia.org/wiki/High-speed_rail_in_China[/url]

[QUOTE=danharibo;45131417]Nuclear I can understand, but why HS2?[/QUOTE] The Government is overpaying for infrastructure and undervaluing assets - the Chinese want some of the easy money that's being handed out. For example, Royal Mail was sold off at far too low a price to a number of City traders and all of the energy infrastructure effective from 2014 onwards cost twice the current price of wholesale energy per MWh.

why would china be interested in building infastructure in places like britain? i mean they build roads and stuff in africa but thats to remove minerals and secure oil rights

[QUOTE=Sableye;45131929]why would china be interested in building infastructure in places like britain? i mean they build roads and stuff in africa but thats to remove minerals and secure oil rights[/QUOTE] Basically China will build, own and be in charge of operating a 'service', be it power generation, transport, etc. They then sell that service back to the UK, which from current understanding/popular opinion, is at a price that is significantly higher than what it would have been had we produced it domestically, even when factoring in the construction and operating costs. Its easy money for China basically, our government are quite good at undervaluing public assets and getting rinsed when it comes to anything funded with public funds.

[QUOTE=danharibo;45131417]Nuclear I can understand, but why HS2?[/QUOTE] Cause it's a major infrstructure upgrade that'll increase how well connected parts of the UK are?

[QUOTE=bravehat;45132540]Cause it's a major infrstructure upgrade that'll increase how well connected parts of the UK are?[/QUOTE] London to Birmingham exclusively (and by better connected half an hour on an already existing train journey for 40bn is terrible in every sense).

[QUOTE=ThePunisher1;45132443]Basically China will build, own and be in charge of operating a 'service', be it power generation, transport, etc. They then sell that service back to the UK, which from current understanding/popular opinion, is at a price that is significantly higher than what it would have been had we produced it domestically, even when factoring in the construction and operating costs. Its easy money for China basically, our government are quite good at undervaluing public assets and getting rinsed when it comes to anything funded with public funds.[/QUOTE] ah makes perfect sense, thats what they've done with rare-earth minerals, they killed all competition with under-cutting and then now reset the price well above the original values

Does China have so little faith in the future of their own infrastructure that that they are investing in another country's infrastructure?

[QUOTE=StrawberryClock;45133604]Does China have so little faith in the future of their own infrastructure that that they are investing in another country's infrastructure?[/QUOTE] [I]Damn, our infrastructure is "shit" The only way to rectify this problem is by spending money on infrastructure belonging to someone else[/I] That doesn't even begin to make sense

You're right, that was really dumb of me. I'm not sure what was my train of thought was when I wrote that reply, but it somehow made sense to me at the time. My apologies.