UK, China sign almost $61bn in business deals

The government of British Prime Minister David Cameron announced it had secured nearly GBP40 billion (US$61 billion) in contracts with China, the lion’s share of which will come from state-owned China General Nuclear Power Corporation’s US$28 billion stake in a new plant to be built in Somerset, The Guardian reported, citing a joint statement from the prime minister and Chinese President Xi Jinping. As part of the deal, French energy firm EDF and the Chinese firm will also cooperate to license a Chinese-designed reactor to be built near London. However, the deal is subject to approval by UK ministers, according to the UK’s Department of Energy and Climate Change.