Shanghai development boss praises Liverpool’s efforts

THE man responsible for the development of Shanghai’s waterfront has praised Liverpool’s efforts to transform itself through the Wirral Waters and Liverpool Waters schemes but said that any large-scale investment in the project by Chinese companies “would depend upon the financial arrangements”.

Mr Yu Li, who is director-deneral of Shanghai Municipal Leading Group Office for Development of Huangpu River Banks, president of Shanghai Huangpu River Banks Development Construction Investment Company and vice-chairman of Shanghai Property Group, was leading a delegation to the city yesterday, and although he said that his corporation was “not focussing on this project at this particular time”, he added that he believed there was much on which that the two cities could work together.

“Given the status of sister cities I believe there is lots that we can learn here in terms of urban regeneration, particularly in shopping and leisure,” he said.

Mr Li said that his visit had been inspired by a visit to Liverpool’s exhibition at Shanghai Expo, where the Wirral Waters and Liverpool Waters projects were the focus of the city’s development plans.

“I believe the project will be a great success,” he said.

Peel’s development director Lindsey Ashworth, who accompanied the delegation on its tour of the city, said that Chinese investment would be important to the project’s delivery.

He said that Peel began talking to Chinese officials three years ago with a view to sharing their expertise of redeveloping Shanghai’s waterfront.

“It’s changed into not only just asking for that but also looking for them to be joint developers with us. China at the moment is a very wealthy nation driving things forwards. Equity partnerships in these schemes will help to drive them forwards more quickly,” he said.

“I want these things to take off in my lifetime and if I have to wait for English banks to get alongside us then I might have to wait longer.”

Cllr Joe Anderson, Leader of Liverpool City Council argued that the visit “shows the success of the Expo where we went out not just to showcase ourselves but to make contacts.”

“This visit shows that it was the right thing to do. We can’t get investment overnight. This is about building relationships, cementing partnerships and creating genuine trust.”