18 February 2019

London mayor seeks Chinese funds to overhaul city, report says

London Mayor Boris Johnson and his business delegation arrived in Beijing Sunday on a campaign to lure Chinese sovereign funds, banks and developers to fund an overhaul of the British capital, Xinhua reported Sunday. During its six-day trip, the delegation will meet China’s foreign exchange regulator and the nation’s sovereign wealth fund China International Corporation (CIC) to discuss funding for investment in London’s urban regeneration projects, the report said. The State Administration of Foreign Exchange has invested in the city’s property market, while CIC has been involved in a number deals to acquire offices and apartments in the city, it said.

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