economy
February 2, 2026
From PopMart to JD.com: Britain and China rush to forge business deals as diplomatic thaw takes hold
Chinese firms moved to pledge hundreds of millions of investment in the U.K. as Starmer's visit to China spurred a flurry of business deals and money flows.
TL;DR
- Chinese businesses pledged hundreds of millions of pounds in investment and struck new partnerships during Prime Minister Keir Starmer's visit to China.
- Deals include Pop Mart establishing a regional headquarters in London, Chery Commercial Vehicles planning a base in Liverpool, and HiTHIUM investing £200 million.
- Asymchem plans a major expansion of its U.K. operations, adding 150 jobs over five years.
- JD.com will help British brands sell to Chinese consumers and launch its retail platform Joybuy in the U.K.
- The U.K. government stated that HiTHIUM's investment will add 300 jobs and provide grid reliability technologies.
- AstraZeneca announced a $15 billion investment in China for R&D expansion.
- Schroders signed an MOU with CATL to develop battery energy storage systems in Europe.
- Beijing promised broader access for British businesses and an improved business environment in China.
- Despite positive developments, U.S. President Trump warned against U.K. business with China, and EU leaders expressed concerns over Chinese export surpluses.
- Gabriel Wildau noted Chinese overcapacity is a 'marginally less acute concern' for the U.K. due to its service-based economy.
Continue reading the original article