Chinese companies have pledged hundreds of millions of pounds of investment in the UK and forged new partnerships with British counterparts, as Prime Minister Keir Starmer’s visit to China spurred a flurry of bilateral business activity and investment flows.

During a four-day visit to China last week, Starmer met Chinese President Xi Jinping and struck deals that will bring hundreds of millions of dollars worth of new investment to Chinese companies, in addition to £2.2 billion ($3 billion) worth of exports and £2.3 billion in market access, according to a report. statement From the Prime Minister’s Office.

After the high-profile visit, leaders from both countries praised the results of cooperation, with Xi Jinping describing the bilateral relationship as “Mutual benefit”. Starmer, who is leading a large delegation of bank, pharmaceutical and car company executives to China, also described China as vital to British interests.

While a comprehensive free trade deal has not been reached, companies across a range of industries have announced major investments and partnerships aimed at deepening bilateral ties, including Pop Mart, the toymaker behind Labu dolls, e-commerce group Jingdongand battery giant CATL.

The series of deals comes as Britain’s leaders seek to rebuild ties with Beijing despite warnings from US President Donald Trump “Very dangerous” for the UK to do business with China.

This diplomatic adjustment also comes at a time when EU leaders have repeatedly expressed concerns about China’s export surplus flooding into the European market.

Teneo managing director Gabriel Wildau said Chinese overcapacity was “somewhat less of a problem” for the UK as the services sector’s growing role in the economy reduced political focus on the threat of competitive Chinese manufacturing exports.

Wildau added that concerns over the security of critical infrastructure, espionage risks and reliance on Chinese technology have been at the forefront of UK policymakers in recent years, triggering greater scrutiny and selective decoupling.

Likewise, Chinese carmaker Chery Commercial Vehicles plans to set up a regional headquarters in Liverpool, according to a person familiar with the matter. social media posts By City Council. While few details of the deal have been disclosed, Chery is widely believed to expected Partnering with Jaguar Land Rover UK to launch its UK operations.

Tianjin-based life sciences group Kai Laiying The British government said the company is planning a major expansion of its UK operations, adding 150 jobs in advanced research and development and next-generation manufacturing over the next five years.

In another sign of Starmer’s ability to capitalize on new links to make financial gains, Chinese energy storage manufacturer HiTHIUM has pledged to invest £200m in the UK and add 300 jobs in the country. The British government said the Chinese company would provide technology to make its grid “more reliable”.

The transaction is as follows AstraZeneca’s announced last week $15 billion One company said it will invest in China to expand local research and development capabilities and increase its headcount from more than 3,000 to more than 20,000 by 2030 statement.

Separately, British asset management company Schroders said on Friday it had signed a memorandum of understanding with Contemporary Amperex Technology Co., Ltd. (CATL) to develop battery energy storage systems in Europe and will support the battery giant’s international expansion.

China e-commerce group Jingdong It said it will help British brands sell to the hundreds of millions of consumers on its platform and provide logistics services to support their online orders. The tech giant will Launched online retail platform Joybuycurrently undergoing beta testing in the UK in March.

processing with Jingdong A survey conducted by the British Chamber of Commerce in December showed that British companies reported that China’s business environment has deteriorated for six consecutive years due to continued deflationary pressures, a general decline in consumption and intensifying local competition.

The agency said China’s domestic consumption “shows no signs of returning to its pre-pandemic consumption boom”, hampering sales of luxury goods and high-end brands.

But the industry body added that opportunities emerged for experience-led spending, a trend that could benefit UK companies in sectors such as sport, entertainment and health.

The survey shows that companies seem to remain optimistic about the Chinese market, with about one-third of respondents planning to increase investment in China, especially expanding business, establishing new partnerships and localization experiments.

Starmer’s visit also follows a series of other pledges by British brands including Welsh manufacturer Cultech and British bicycle maker Brompton to increase exports to China.

For life sciences, UK biopharmaceutical company Birmingham Biotech announces plan Expanding its business in China, sales in China are expected to be approximately £20 million in the next few years.

Octopus Energy Group, Britain’s largest energy supplier, said on Friday it planned to form new joints Joint venture with China’s PCG Power to launch renewable energy trading, marking its first foray into the renewable energy sector The world’s largest clean energy market.

—CNBC’s Evelyn Cheng contributed to this report.