Chinese investors are being asked to pump their leftover cash into four great developments across Manchester as they push their Northern Powerhouse initiative with business and politics from the Far East.
Ministers hope to attract more than £5 billion in 13 projects from Chinese and international business leaders and four of those developments are in the Greater Manchester region.
Chancellor Phillip Hammond, Northern Powerhouse Minister Andrew Percy and International Trade Secretary Liam Fox are hoping to secure investment for Future Carrington development in Trafford; the Kampus project in Manchester city centre; the expansion of MediaCityUK at Salford Quays; and the Stockport Exchange plan.
The Northern Powerhouse, the centre piece of former Chancellor George Osborne’s political push for change, is – according to the Government – growing rapidly. Statistics revealed it’s attracting double the foreign investment compared to the national average last year.
The Government believes fostering the relationships between China and the UK can elevate the plan to create a balanced economy in the north to the next level.
The four Mancunian projects that will benefit the most from Chinese investment will together create over 3,000 new homes and thousands of new jobs as well as plenty of space for commercial units.
Northern Powerhouse Minister Andrew Percy said: “Building the Northern Powerhouse is at the heart of our efforts to create an economy that works for everyone.
“Investors from abroad know that the North has some of the world’s best and most talented entrepreneurs and businesses, and we’re showcasing 13 oven-ready opportunities to them which could create thousands of jobs for years to come.”
