Former UK Prime Minister David Cameron is pushing ahead with a troubled scheme to raise a $1 billion China investment fund despite a hardening of the British government’s stance against Beijing, reported the Financial Times.
Named the UK-China Fund, the private sector initiative is intended to seek partnership opportunities between the two countries in technology, healthcare, energy and manufacturing.
When announced 30 months ago, it was billed as Cameron’s most ambitious commercial undertaking since leaving office in July 2016 after losing the EU referendum.
People close to the former prime minister told the Financial Times that he was still pursuing the fund. “It would be wrong to say [it has been] abandoned,” said one.