(Yicai Global) Feb. 5 -- China and Britain signed deals worth GPB9.3 billion (USD13.1 billion) during British Prime Minister Theresa May's visit, creating over 2,500 jobs in the United Kingdom, according to 10 Downing Street. Britain came up with a sector that absolutely has a comparative advantage in its cooperation with China: teaching English language.
China has become Britain's largest source of overseas students, UK data show. There are currently 155,000 Chinese students studying in Britain, who contribute about GBP5 billion to the British economy per year, the British government announced. At present, there are more than 300 million people in China who are learning English. The USD2 billion market provides Britain with great business opportunities. In teaching English, British practitioners have undoubtedly absolute comparative advantage.
The total value of education exports in the UK is estimated at GBP17 billion, and the cooperation in this area between Britain and China has tremendous prospects, British international trade secretary Liam Fox, who visited China early last month in preparation for PM May's visit, told Yicai Global at that time.
During May's visit, both sides signed a number of educational agreements worth over GBP550 million, which are expected to create more than 800 jobs in the UK. The educational cooperation between China and Britain is very extensive covering multiple projects from pre-school to post-graduate education.
Among them, Busy Bees, Britain's largest provider of child care services, won a service export agreement worth GBP75 million. The institution will open 20 new kindergartens in China along with China's Orient Cambridge Education Group. In addition, seven British schools, including Adcote School and Middleton College, signed cooperation agreements with their Chinese counterparts.