Chinese delegation chooses Coventry as sole UK destination
A CHINESE delegation is to visit Coventry next week as its only UK stop on a European tour looking for investment opportunities.
The Investment Promotion Agency of Chinese Ministry of Commerce (CIPA) is bringing 29 delegates from companies and government organisations on a visit organised by UK Trade and Investment in partnership with the Coventry and Warwickshire Growth Hub.
The delegates are looking to invest or work with UK partners in a range of transport engineering firms – particularly in new energy and autonomous vehicle development, universities and research institutes as well as niche vehicle manufacturers.
They will be in the city for three days as part of a factfinding tour that also takes in Italy and Germany.
Craig Humphrey, chief executive of the Growth Hub, highlighted the £250m investment by Geely at Ansty, China Red Sun Group’s £300m investment in Cad Cam, and the Yongtai Group’s ownership of Covpress as examples of the area’s “proven track record”.
He said: “The first two landmark investments came as a result of the close working with the Chinese companies for months, ensuring that we could offer what they needed.
“There is global competition to attract Chinese investment but we now have considerable experience and success in the field.
“Outside investors know that when they come to this area they will be offered help and support and that all the agencies and organisations – the CW LEP, Growth Hub, Chamber and local authorities – will do everything in their powers to ensure the investment achieves its potential.”
