(Yicai Global) Nov. 20 -- UK Export Finance, the UK government's export credit agency, appointed its first senior trade representative to China yesterday to boost sales of UK products and services in the world’s second largest economy, the Embassy of the United Kingdom in Beijing told Yicai Global.
Wu Jiang will take charge at a time when the UK-China trade partnership takes on increasing importance. Trade between the two nations broke through the GBP100 billion (USD132.8 billion) mark for the first time last year, reaching GBP104.5 billion.
UKEF’s Country Heads work with overseas governments and multinational companies looking to buy from the UK to create trading opportunities for British businesses, according to the agency’s website.
Wu’s role will be to help Chinese companies purchase from the UK and to support Chinese companies based in the UK to sell goods and services of British origin.
The UKEF plans to provide GBP4 billion (USD5.31 billion) in financial support for UK export projects to China. The London-based agency can also help Chinese companies obtain financing in their local currency, in order to help these firms purchase British goods and services.
"The UK's professional experience in renewable energy and technology will be a great support for projects in China," Wu said. "In addition, I can help Chinese companies communicate with British suppliers and secure financial support," she added.
Wu joins three other newly hired senior trade representatives for Colombia, Kenya and South Africa. UKEF now has 12 Country Heads operating across 11 countries and plans to increase this to 20 in strategic markets across Asia and North America in the coming months.
Before joining UKEF, Wu worked as project financing director at French energy giant Alstom, where she was responsible for the global commercialization of carbon capture and storage technology.
She has more than ten years of experience in assisting multinational companies, such as Irish industrial equipment maker Ingersoll Rand and US chemical producer Eastman Chemical, to enter the Chinese market.
Editor: Kim Taylor