U.K.’s Osborne Backs Green Energy, Stem-Cell Projects in China
U.K. Chancellor of the Exchequer George Osborne backed joint scientific research projects into stem cells and green energy with China as he sought to forge links with companies in the world’s fastest growing economy.
The U.K. will invest 3 million pounds ($4.6 million) in work carried out by the Research Councils U.K. Energy Programme and the National Natural Science Foundation of China to develop electricity generation on a small scale, the British Embassy in Beijing said today. The U.K. Medical Research Council and the same Chinese body will each invest 420,000 pounds in joint stem- cell research.
“The U.K. has ambitious plans to engage with China on a range of research projects,” Osborne said in a statement released by the embassy. “Our research partnership recognizes the priorities and strengths of the two countries.”
Osborne is on a three-day tour of Asia, during which he’s seeking to expand commercial ties with China and Japan. Yesterday, he called for London to expand its role as an offshore trading center for the Chinese yuan as Europe’s deepening debt crisis prompts Britain to seek new growth markets.
To contact the reporter on this story: Gonzalo Vina in London at gvina@bloomberg.net
To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net
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